Wells Fargo & Company Cuts Guidewire Software (NYSE:GWRE) Price Target to $210.00

Guidewire Software (NYSE:GWRE) had its price objective cut by Wells Fargo & Company from $250.00 to $210.00 in a report released on Wednesday morning,Benzinga reports. They currently have an overweight rating on the technology company’s stock.

GWRE has been the topic of a number of other research reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Guidewire Software in a report on Thursday, January 22nd. Zacks Research cut shares of Guidewire Software from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 2nd. DA Davidson raised shares of Guidewire Software from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $246.00 to $250.00 in a report on Wednesday, December 17th. Citigroup upped their target price on shares of Guidewire Software from $242.00 to $245.00 and gave the company a “neutral” rating in a report on Friday, December 5th. Finally, BTIG Research reiterated a “buy” rating and set a $250.00 price target on shares of Guidewire Software in a research note on Tuesday, January 27th. Twelve investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Guidewire Software has a consensus rating of “Moderate Buy” and a consensus target price of $266.64.

Guidewire Software Trading Up 1.9%

Guidewire Software stock opened at $128.40 on Wednesday. The business’s fifty day simple moving average is $181.60 and its two-hundred day simple moving average is $212.39. Guidewire Software has a 12 month low of $121.88 and a 12 month high of $272.60. The company has a current ratio of 3.48, a quick ratio of 3.48 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $10.92 billion, a price-to-earnings ratio of 122.29, a price-to-earnings-growth ratio of 8.12 and a beta of 1.06.

Guidewire Software (NYSE:GWRE) last released its quarterly earnings data on Wednesday, December 3rd. The technology company reported $0.66 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.66. Guidewire Software had a return on equity of 10.15% and a net margin of 7.23%.The business had revenue of $332.64 million for the quarter, compared to analysts’ expectations of $316.62 million. During the same period in the prior year, the firm posted $0.43 EPS. The firm’s quarterly revenue was up 26.5% on a year-over-year basis. As a group, equities analysts predict that Guidewire Software will post 0.52 earnings per share for the current fiscal year.

Guidewire Software declared that its Board of Directors has authorized a stock repurchase program on Thursday, January 8th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the technology company to buy up to 3.1% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its stock is undervalued.

Insiders Place Their Bets

In other news, CFO Jeffrey Elliott Cooper sold 216 shares of the company’s stock in a transaction dated Tuesday, January 13th. The stock was sold at an average price of $180.87, for a total value of $39,067.92. Following the completion of the transaction, the chief financial officer owned 72,753 shares of the company’s stock, valued at $13,158,835.11. This represents a 0.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider James Winston King sold 1,860 shares of the business’s stock in a transaction that occurred on Thursday, December 18th. The stock was sold at an average price of $195.00, for a total value of $362,700.00. Following the completion of the transaction, the insider directly owned 33,702 shares in the company, valued at approximately $6,571,890. This represents a 5.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 48,358 shares of company stock valued at $9,409,729 in the last ninety days. Insiders own 0.46% of the company’s stock.

Institutional Investors Weigh In On Guidewire Software

Several large investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings in shares of Guidewire Software by 1.3% in the 3rd quarter. Vanguard Group Inc. now owns 9,039,377 shares of the technology company’s stock valued at $2,077,791,000 after buying an additional 116,726 shares in the last quarter. Geode Capital Management LLC grew its holdings in Guidewire Software by 5.6% in the second quarter. Geode Capital Management LLC now owns 1,578,442 shares of the technology company’s stock worth $372,105,000 after purchasing an additional 84,152 shares during the last quarter. AQR Capital Management LLC increased its position in shares of Guidewire Software by 18.9% during the third quarter. AQR Capital Management LLC now owns 1,271,528 shares of the technology company’s stock worth $292,146,000 after purchasing an additional 202,064 shares in the last quarter. Qube Research & Technologies Ltd lifted its holdings in shares of Guidewire Software by 34.4% during the 3rd quarter. Qube Research & Technologies Ltd now owns 982,747 shares of the technology company’s stock valued at $225,894,000 after purchasing an additional 251,280 shares during the last quarter. Finally, Franklin Resources Inc. boosted its position in shares of Guidewire Software by 9.7% in the 3rd quarter. Franklin Resources Inc. now owns 856,487 shares of the technology company’s stock worth $196,872,000 after purchasing an additional 75,955 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.