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

DA Davidson reaffirmed their buy rating on shares of Guidewire Software (NYSE:GWRE) in a research note released on Friday morning,Benzinga reports. They currently have a $222.00 target price on the technology company’s stock.

Several other research firms have also weighed in on GWRE. Citigroup lifted their price objective on Guidewire Software from $137.00 to $181.00 and gave the stock a “neutral” rating in a research report on Friday, September 4th. Robert W. Baird upped their target price on Guidewire Software from $202.00 to $235.00 and gave the company an “outperform” rating in a research report on Monday, August 31st. Stifel Nicolaus decreased their target price on Guidewire Software from $225.00 to $200.00 and set a “buy” rating for the company in a research note on Friday, June 5th. Oppenheimer lifted their target price on Guidewire Software from $200.00 to $210.00 and gave the stock an “outperform” rating in a report on Friday, September 4th. Finally, The Goldman Sachs Group dropped their price target on Guidewire Software from $255.00 to $225.00 and set a “buy” rating on the stock in a research note on Friday, June 5th. Twelve investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $216.23.

Guidewire Software Trading Down 0.0%

GWRE opened at $152.07 on Friday. Guidewire Software has a twelve month low of $102.30 and a twelve month high of $255.89. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.57. The company has a fifty day moving average of $165.49 and a 200-day moving average of $146.73. The stock has a market cap of $12.66 billion, a PE ratio of 93.30 and a beta of 1.02.

Guidewire Software (NYSE:GWRE) last announced its earnings results on Thursday, September 3rd. The technology company reported $0.99 earnings per share for the quarter, topping analysts’ consensus estimates of $0.93 by $0.06. The business had revenue of $411.09 million during the quarter, compared to the consensus estimate of $402.61 million. Guidewire Software had a net margin of 9.44% and a return on equity of 12.66%. Guidewire Software’s quarterly revenue was up 15.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.84 earnings per share. On average, sell-side analysts predict that Guidewire Software will post 2.45 EPS for the current year.

Insider Activity

In other news, insider James King sold 11,814 shares of the stock in a transaction dated Thursday, September 17th. The shares were sold at an average price of $144.47, for a total transaction of $1,706,768.58. Following the transaction, the insider owned 45,939 shares of the company’s stock, valued at $6,636,807.33. This represents a 20.46% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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, CFO Jeffrey Cooper sold 23,234 shares of the firm’s stock in a transaction dated Thursday, September 17th. The shares were sold at an average price of $144.47, for a total value of $3,356,615.98. Following the completion of the sale, the chief financial officer owned 95,361 shares of the company’s stock, valued at approximately $13,776,803.67. This represents a 19.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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. In the last ninety days, insiders have sold 192,032 shares of company stock valued at $28,636,800. Corporate insiders own 0.46% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in GWRE. Fiduciary Financial Advisors bought a new stake in shares of Guidewire Software during the second quarter valued at approximately $29,000. Leonteq Securities AG acquired a new position in shares of Guidewire Software during the first quarter worth approximately $36,000. Bogart Wealth LLC lifted its holdings in shares of Guidewire Software by 127.8% in the 1st quarter. Bogart Wealth LLC now owns 246 shares of the technology company’s stock worth $37,000 after purchasing an additional 138 shares in the last quarter. Harbour Investments Inc. lifted its holdings in shares of Guidewire Software by 83.0% in the 4th quarter. Harbour Investments Inc. now owns 247 shares of the technology company’s stock worth $50,000 after purchasing an additional 112 shares in the last quarter. Finally, Silvant Capital Management LLC acquired a new stake in Guidewire Software in the 2nd quarter valued at $33,000.

Guidewire Software Company Profile

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.