Guidewire Software’s (GWRE) Buy Rating Reaffirmed at DA Davidson

Guidewire Software (NYSE:GWRE)‘s stock had its “buy” rating restated by equities research analysts at DA Davidson in a research report issued to clients and investors on Friday, Benzinga reports. They currently have a $222.00 price objective on the technology company’s stock. DA Davidson’s price target indicates a potential upside of 35.23% from the company’s previous close.

A number of other analysts have also recently issued reports on the stock. Stifel Nicolaus reduced their target price on shares of Guidewire Software from $225.00 to $200.00 and set a “buy” rating for the company in a research note on Friday, June 5th. Weiss Ratings reissued a “hold (c)” rating on shares of Guidewire Software in a research report on Monday, August 31st. Oppenheimer lifted their price target on shares of Guidewire Software from $200.00 to $210.00 and gave the company an “outperform” rating in a research report on Friday, September 4th. The Goldman Sachs Group dropped their price target on shares of Guidewire Software from $255.00 to $225.00 and set a “buy” rating on the stock in a research report on Friday, June 5th. Finally, Piper Sandler reissued an “overweight” rating and issued a $210.00 price target on shares of Guidewire Software in a research report on Friday, September 4th. Twelve research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, Guidewire Software presently has an average rating of “Moderate Buy” and an average target price of $216.23.

Guidewire Software Stock Down 0.2%

NYSE GWRE traded down $0.35 during trading on Friday, reaching $164.17. The company’s stock had a trading volume of 243,826 shares, compared to its average volume of 1,566,969. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $13.67 billion, a PE ratio of 100.58 and a beta of 1.02. The business has a 50-day moving average price of $165.88 and a 200-day moving average price of $146.77. Guidewire Software has a 1-year low of $102.30 and a 1-year high of $255.89.

Guidewire Software (NYSE:GWRE) last posted its earnings results on Thursday, September 3rd. The technology company reported $0.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.93 by $0.06. The firm had revenue of $411.09 million during the quarter, compared to analysts’ expectations of $402.61 million. Guidewire Software had a net margin of 9.44% and a return on equity of 12.66%. The company’s revenue was up 15.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.84 earnings per share. On average, research analysts forecast that Guidewire Software will post 2.45 earnings per share for the current fiscal year.

Insider Buying and Selling at Guidewire Software

In related news, CFO Jeffrey Cooper sold 23,234 shares of the business’s stock in a transaction on Thursday, September 17th. The shares were sold at an average price of $144.47, for a total transaction of $3,356,615.98. Following the transaction, the chief financial officer owned 95,361 shares of the company’s stock, valued at approximately $13,776,803.67. The trade was a 19.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Michael Rosenbaum sold 72,290 shares of the business’s stock in a transaction on Thursday, September 17th. The stock was sold at an average price of $144.47, for a total transaction of $10,443,736.30. Following the transaction, the chief executive officer directly owned 280,866 shares in the company, valued at $40,576,711.02. This trade represents a 20.47% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 193,232 shares of company stock valued at $28,819,824 in the last three months. 0.46% of the stock is owned by insiders.

Institutional Investors Weigh In On Guidewire Software

Institutional investors and hedge funds have recently bought and sold shares of the business. Bamco Inc. NY bought a new stake in Guidewire Software in the 2nd quarter valued at $1,106,768,000. Linonia Partnership LP bought a new stake in Guidewire Software in the 2nd quarter valued at $853,165,000. Route One Investment Company L.P. bought a new stake in Guidewire Software in the 2nd quarter valued at $227,564,000. Capital World Investors bought a new stake in Guidewire Software in the 4th quarter valued at $202,405,000. Finally, Principal Financial Group Inc. increased its holdings in Guidewire Software by 547.3% in the 1st quarter. Principal Financial Group Inc. now owns 1,180,334 shares of the technology company’s stock valued at $176,537,000 after buying an additional 997,992 shares during the period.

About Guidewire Software

Guidewire Software, Inc develops software for the property and casualty (P&C) insurance industry. Its platform is designed to help insurers manage core operations, modernize legacy systems, and support digital interactions with policyholders, agents, brokers, and other stakeholders.

The company’s principal offerings include Guidewire InsuranceSuite, a cloud-based platform with applications such as PolicyCenter for policy administration, BillingCenter for billing and payments, and ClaimCenter for claims management.