Guidewire Software (NYSE:GWRE) Upgraded by Guggenheim to Strong-Buy Rating

Guidewire Software (NYSE:GWRE) was upgraded by stock analysts at Guggenheim to a “strong-buy” rating in a research report issued to clients and investors on Wednesday,Zacks.com reports.

A number of other equities analysts have also recently issued reports on GWRE. Zacks Research cut Guidewire Software from a “strong-buy” rating to a “hold” rating in a report on Monday, May 25th. BTIG Research reiterated a “buy” rating and set a $175.00 target price on shares of Guidewire Software in a research report on Thursday, July 2nd. Royal Bank Of Canada lowered their target price on shares of Guidewire Software from $250.00 to $215.00 and set an “outperform” rating for the company in a research note on Friday, June 5th. DA Davidson cut their price target on shares of Guidewire Software from $246.00 to $222.00 and set a “buy” rating on the stock in a report on Monday, June 8th. Finally, Oppenheimer reduced their price target on shares of Guidewire Software from $250.00 to $180.00 and set an “outperform” rating on the stock in a research note on Monday, May 18th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Guidewire Software currently has an average rating of “Moderate Buy” and a consensus price target of $221.00.

Guidewire Software Stock Performance

Guidewire Software stock opened at $131.33 on Wednesday. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.44 and a quick ratio of 2.44. Guidewire Software has a 1-year low of $102.30 and a 1-year high of $272.60. The firm has a market capitalization of $10.93 billion, a P/E ratio of 70.99 and a beta of 0.95. The company’s 50-day moving average is $132.71 and its 200 day moving average is $141.71.

Guidewire Software (NYSE:GWRE) last announced its earnings results on Thursday, June 4th. The technology company reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.08. The business had revenue of $372.54 million during the quarter, compared to analyst estimates of $355.92 million. Guidewire Software had a return on equity of 12.62% and a net margin of 11.25%.The company’s revenue for the quarter was up 26.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.88 earnings per share. Research analysts forecast that Guidewire Software will post 1.83 EPS for the current year.

Insiders Place Their Bets

In related news, President John P. Mullen sold 4,292 shares of Guidewire Software stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $118.74, for a total value of $509,632.08. Following the completion of the sale, the president directly owned 131,115 shares in the company, valued at $15,568,595.10. The trade was a 3.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Michael George Rosenbaum sold 1,200 shares of Guidewire Software stock in a transaction dated Monday, July 13th. The shares were sold at an average price of $138.47, for a total value of $166,164.00. Following the completion of the sale, the chief executive officer owned 194,976 shares of the company’s stock, valued at $26,998,326.72. The trade was a 0.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 30,193 shares of company stock worth $3,792,858. 0.46% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in GWRE. Advisors Asset Management Inc. purchased a new position in Guidewire Software during the first quarter valued at approximately $25,000. Amundi lifted its holdings in Guidewire Software by 703.0% during the second quarter. Amundi now owns 36,093 shares of the technology company’s stock worth $8,220,000 after buying an additional 31,598 shares during the period. Jump Financial LLC purchased a new stake in Guidewire Software during the second quarter worth $305,000. Bank of Nova Scotia boosted its position in Guidewire Software by 30.9% during the 2nd quarter. Bank of Nova Scotia now owns 2,024 shares of the technology company’s stock valued at $477,000 after acquiring an additional 478 shares in the last quarter. Finally, NewEdge Advisors LLC boosted its position in Guidewire Software by 30.6% during the 2nd quarter. NewEdge Advisors LLC now owns 4,911 shares of the technology company’s stock valued at $1,156,000 after acquiring an additional 1,152 shares in the last quarter.

Guidewire Software Company Profile

Guidewire Software, Inc develops software products and cloud services for property and casualty (P&C) insurance carriers. Headquartered in San Mateo, California, the company’s offerings are designed to help insurers manage the core functions of their business—policy administration, billing and claims—while supporting digital engagement, analytics and operational modernization.

Guidewire’s core product portfolio is commonly known as the InsuranceSuite, which includes PolicyCenter for policy administration, BillingCenter for billing and receivables, and ClaimCenter for claims management.