Guidewire Software (NYSE:GWRE) Given New $222.00 Price Target at DA Davidson

Guidewire Software (NYSE:GWRE) had its price target lowered by research analysts at DA Davidson from $246.00 to $222.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the technology company’s stock. DA Davidson’s price objective points to a potential upside of 62.25% from the stock’s current price.

Several other equities research analysts have also recently commented on GWRE. Wells Fargo & Company cut their price objective on shares of Guidewire Software from $210.00 to $190.00 and set an “overweight” rating on the stock in a research report on Friday. Royal Bank Of Canada dropped their price target on Guidewire Software from $250.00 to $215.00 and set an “outperform” rating on the stock in a research note on Friday. The Goldman Sachs Group cut their price target on Guidewire Software from $255.00 to $225.00 and set a “buy” rating on the stock in a report on Friday. Zacks Research cut Guidewire Software from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 25th. Finally, Citizens Jmp decreased their price objective on Guidewire Software from $300.00 to $220.00 and set a “market outperform” rating for the company in a report on Friday. Eleven equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $229.00.

Guidewire Software Price Performance

Shares of GWRE opened at $136.82 on Monday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.93 and a current ratio of 2.44. The stock has a 50 day simple moving average of $140.07 and a 200 day simple moving average of $160.52. Guidewire Software has a 52-week low of $115.57 and a 52-week high of $272.60. The firm has a market capitalization of $11.58 billion, a PE ratio of 73.96 and a beta of 0.93.

Guidewire Software (NYSE:GWRE) last announced its earnings results on Thursday, June 4th. The technology company reported $0.82 EPS for the quarter, topping the consensus estimate of $0.74 by $0.08. The firm had revenue of $372.54 million for the quarter, compared to the consensus estimate of $355.92 million. Guidewire Software had a net margin of 11.25% and a return on equity of 12.62%. The business’s quarterly revenue was up 26.9% on a year-over-year basis. During the same period last year, the company posted $0.88 EPS. Sell-side analysts predict that Guidewire Software will post 1.84 EPS for the current fiscal year.

Insider Buying and Selling

In related news, President John P. Mullen sold 6,576 shares of the firm’s stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $163.86, for a total value of $1,077,543.36. Following the completion of the transaction, the president owned 135,407 shares of the company’s stock, valued at approximately $22,187,791.02. This trade represents a 4.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Michael George Rosenbaum sold 4,737 shares of Guidewire Software stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $163.86, for a total transaction of $776,204.82. Following the completion of the sale, the chief executive officer owned 221,206 shares in the company, valued at $36,246,815.16. The trade was a 2.10% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 32,479 shares of company stock worth $5,015,270. 0.46% of the stock is owned by insiders.

Institutional Trading of Guidewire Software

Institutional investors and hedge funds have recently bought and sold shares of the stock. Dynamic Technology Lab Private Ltd lifted its position in Guidewire Software by 901.1% during the third quarter. Dynamic Technology Lab Private Ltd now owns 9,110 shares of the technology company’s stock worth $2,094,000 after acquiring an additional 8,200 shares during the last quarter. Comerica Bank grew its position in shares of Guidewire Software by 52.0% in the fourth quarter. Comerica Bank now owns 78,659 shares of the technology company’s stock valued at $15,811,000 after purchasing an additional 26,912 shares during the last quarter. BDF Gestion acquired a new position in shares of Guidewire Software in the fourth quarter valued at approximately $1,803,000. American Century Companies Inc. increased its stake in shares of Guidewire Software by 3.4% during the third quarter. American Century Companies Inc. now owns 520,390 shares of the technology company’s stock worth $119,617,000 after purchasing an additional 17,104 shares during the period. Finally, Fieldview Capital Management LLC acquired a new stake in Guidewire Software during the 3rd quarter worth approximately $2,862,000.

About Guidewire Software

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.