Guidewire Software (NYSE:GWRE) Earns “Buy” Rating from DA Davidson

Guidewire Software (NYSE:GWRE)‘s stock had its “buy” rating reaffirmed by research analysts at DA Davidson in a research report issued to clients and investors on Friday, Benzinga reports. They currently have a $222.00 target price on the technology company’s stock. DA Davidson’s target price would suggest a potential upside of 45.57% from the stock’s previous close.

GWRE has been the topic of several other research reports. Citigroup upped their price target on Guidewire Software from $137.00 to $181.00 and gave the company a “neutral” rating in a research note on Friday, September 4th. Guggenheim increased their price target on Guidewire Software from $180.00 to $210.00 and gave the stock a “buy” rating in a report on Thursday, August 27th. Wells Fargo & Company increased their price objective on Guidewire Software from $190.00 to $195.00 and gave the stock an “overweight” rating in a report on Friday, September 4th. Weiss Ratings reiterated a “hold (c)” rating on shares of Guidewire Software in a report on Monday, August 31st. Finally, BTIG Research increased their price target on Guidewire Software from $175.00 to $230.00 and gave the company a “buy” rating in a research report on Wednesday, September 2nd. Twelve analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $216.23.

Guidewire Software Price Performance

Guidewire Software stock traded down $2.81 on Friday, reaching $152.51. The company’s stock had a trading volume of 392,215 shares, compared to its average volume of 1,568,500. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.79 and a current ratio of 1.79. The company has a market cap of $12.70 billion, a price-to-earnings ratio of 93.58 and a beta of 1.03. The business’s fifty day moving average price is $165.21 and its 200 day moving average price is $146.80. Guidewire Software has a twelve month low of $102.30 and a twelve month high of $255.89.

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

Insider Activity

In other news, insider James King sold 11,814 shares of Guidewire Software stock in a transaction on Thursday, September 17th. The stock was sold at an average price of $144.47, for a total value of $1,706,768.58. Following the transaction, the insider owned 45,939 shares in the company, valued at approximately $6,636,807.33. This trade represents a 20.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible 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, CFO Jeffrey Cooper sold 23,234 shares of Guidewire Software stock in a transaction on 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 transaction, the chief financial officer owned 95,361 shares in the company, valued at approximately $13,776,803.67. The trade was a 19.59% decrease in their position. 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. Over the last 90 days, insiders have sold 193,232 shares of company stock worth $28,794,756. 0.46% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Guidewire Software

Several hedge funds have recently modified their holdings of the company. Castleark Management LLC increased its holdings in Guidewire Software by 1.6% in the first quarter. Castleark Management LLC now owns 5,180 shares of the technology company’s stock valued at $775,000 after buying an additional 80 shares in the last quarter. Avory & Company LLC increased its holdings in Guidewire Software by 10.0% in the fourth quarter. Avory & Company LLC now owns 1,187 shares of the technology company’s stock valued at $239,000 after buying an additional 108 shares in the last quarter. Harbour Investments Inc. increased its holdings in Guidewire Software by 83.0% in the fourth quarter. Harbour Investments Inc. now owns 247 shares of the technology company’s stock valued at $50,000 after buying an additional 112 shares in the last quarter. Elevation Wealth Partners LLC increased its holdings in Guidewire Software by 35.1% in the second quarter. Elevation Wealth Partners LLC now owns 458 shares of the technology company’s stock valued at $56,000 after buying an additional 119 shares in the last quarter. Finally, D.A. Davidson & CO. increased its holdings in Guidewire Software by 3.0% in the first quarter. D.A. Davidson & CO. now owns 4,234 shares of the technology company’s stock valued at $633,000 after buying an additional 124 shares in the last quarter.

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.