Oppenheimer Cuts Guidewire Software (NYSE:GWRE) Price Target to $250.00

Guidewire Software (NYSE:GWRE) had its target price reduced by Oppenheimer from $300.00 to $250.00 in a research note issued to investors on Tuesday morning,Benzinga reports. They currently have an outperform rating on the technology company’s stock.

Several other equities research analysts have also issued reports on GWRE. Wells Fargo & Company lowered their price target on shares of Guidewire Software from $250.00 to $210.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 4th. Zacks Research cut Guidewire Software from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 2nd. DA Davidson upgraded Guidewire Software from a “neutral” rating to a “buy” rating and upped their target price for the stock from $246.00 to $250.00 in a report on Wednesday, December 17th. Weiss Ratings restated a “hold (c)” rating on shares of Guidewire Software in a research note on Thursday, January 22nd. Finally, Wall Street Zen lowered Guidewire Software from a “buy” rating to a “hold” rating in a research report on Friday, November 28th. Eleven equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Guidewire Software has a consensus rating of “Moderate Buy” and a consensus price target of $255.92.

Guidewire Software Stock Up 6.1%

Shares of Guidewire Software stock opened at $144.16 on Tuesday. The company has a market capitalization of $12.26 billion, a P/E ratio of 137.30, a price-to-earnings-growth ratio of 8.76 and a beta of 1.06. The company has a debt-to-equity ratio of 0.44, a current ratio of 3.48 and a quick ratio of 3.48. The business has a 50-day moving average of $160.69 and a two-hundred day moving average of $203.22. Guidewire Software has a 1 year low of $120.37 and a 1 year high of $272.60.

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

Guidewire Software announced that its board has authorized a share repurchase plan on Thursday, January 8th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the technology company to purchase up to 3.1% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

Insider Activity at Guidewire Software

In other Guidewire Software news, CFO Jeffrey Elliott Cooper sold 216 shares of the firm’s stock in a transaction on Tuesday, January 13th. The stock was sold at an average price of $180.87, for a total transaction of $39,067.92. Following the transaction, the chief financial officer owned 72,753 shares in the company, valued at $13,158,835.11. This trade represents a 0.30% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider James Winston King sold 1,860 shares of the stock in a transaction 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 sale, the insider directly owned 33,702 shares in the company, valued at approximately $6,571,890. This trade represents a 5.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 47,160 shares of company stock worth $8,917,644. Company insiders own 0.46% of the company’s stock.

Institutional Investors Weigh In On Guidewire Software

A number of hedge funds have recently made changes to their positions in the stock. Measured Wealth Private Client Group LLC acquired a new position in Guidewire Software during the 3rd quarter worth approximately $29,000. Root Financial Partners LLC bought a new stake in shares of Guidewire Software during the third quarter worth $29,000. Newbridge Financial Services Group Inc. acquired a new position in shares of Guidewire Software during the second quarter worth $30,000. Advisors Asset Management Inc. acquired a new position in shares of Guidewire Software during the first quarter worth $25,000. Finally, Westside Investment Management Inc. bought a new position in shares of Guidewire Software in the 2nd quarter valued at $32,000.

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.