Guidewire Software (NYSE:GWRE) Given Buy Rating at DA Davidson

Guidewire Software (NYSE:GWRE)‘s stock had its “buy” rating reiterated by research analysts at DA Davidson in a research note issued to investors on Friday, Benzinga reports. They presently have a $222.00 price objective on the technology company’s stock. DA Davidson’s price objective would suggest a potential upside of 46.04% from the company’s previous close.

GWRE has been the subject of several other reports. Needham & Company LLC reiterated a “hold” rating on shares of Guidewire Software in a research note on Friday, September 4th. Oppenheimer raised their price target on Guidewire Software from $200.00 to $210.00 and gave the company an “outperform” rating in a report on Friday, September 4th. Guggenheim lifted their price objective on shares of Guidewire Software from $180.00 to $210.00 and gave the stock a “buy” rating in a research report on Thursday, August 27th. JPMorgan Chase & Co. decreased their price objective on shares of Guidewire Software from $300.00 to $258.00 and set an “overweight” rating on the stock in a report on Tuesday, July 14th. Finally, Wells Fargo & Company increased their price objective on shares of Guidewire Software from $190.00 to $195.00 and gave the company an “overweight” rating in a research report on Friday, September 4th. Twelve analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $216.23.

Guidewire Software Stock Performance

NYSE:GWRE traded down $3.31 during mid-day trading on Friday, hitting $152.01. The stock had a trading volume of 175,734 shares, compared to its average volume of 1,567,240. Guidewire Software has a twelve month low of $102.30 and a twelve month high of $255.89. The stock has a market cap of $12.66 billion, a price-to-earnings ratio of 92.91 and a beta of 1.03. The company’s 50 day simple moving average is $165.21 and its 200 day simple moving average is $146.80. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.79 and a current ratio of 1.79.

Guidewire Software (NYSE:GWRE) last posted its quarterly earnings results on Thursday, September 3rd. The technology company reported $0.99 EPS 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 analysts’ expectations of $402.61 million. Guidewire Software had a return on equity of 12.66% and a net margin of 9.44%.Guidewire Software’s quarterly revenue was up 15.3% on a year-over-year basis. During the same quarter last year, the company posted $0.84 earnings per share. On average, equities research analysts forecast that Guidewire Software will post 2.45 earnings per share for the current year.

Insider Buying and Selling at Guidewire Software

In other Guidewire Software news, President John P. Mullen sold 39,683 shares of the company’s stock in a transaction on Thursday, September 17th. The stock was sold at an average price of $144.47, for a total value of $5,733,003.01. Following the transaction, the president directly owned 183,647 shares of the company’s stock, valued at $26,531,482.09. This represents a 17.77% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO David Peterson sold 1,905 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 $275,215.35. Following the sale, the chief accounting officer directly owned 12,233 shares of the company’s stock, valued at $1,767,301.51. This represents a 13.47% decrease in their position. The SEC filing for this sale provides additional information. 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. Insiders sold a total of 193,232 shares of company stock worth $28,794,756 in the last 90 days. Company insiders own 0.46% of the company’s stock.

Hedge Funds Weigh In On Guidewire Software

Several institutional investors and hedge funds have recently modified their holdings of the business. Greenwich Wealth Management LLC raised its stake in Guidewire Software by 0.4% in the 2nd quarter. Greenwich Wealth Management LLC now owns 37,614 shares of the technology company’s stock worth $4,628,000 after purchasing an additional 146 shares in the last quarter. QRG Capital Management Inc. grew its position in shares of Guidewire Software by 5.1% during the 2nd quarter. QRG Capital Management Inc. now owns 5,280 shares of the technology company’s stock worth $650,000 after purchasing an additional 258 shares in the last quarter. Tidal Investments LLC increased its holdings in shares of Guidewire Software by 20.5% during the second quarter. Tidal Investments LLC now owns 11,134 shares of the technology company’s stock worth $1,370,000 after purchasing an additional 1,895 shares during the period. Integrated Wealth Concepts LLC bought a new position in shares of Guidewire Software during the second quarter worth approximately $53,000. Finally, Baird Financial Group Inc. raised its position in shares of Guidewire Software by 86.8% in the second quarter. Baird Financial Group Inc. now owns 2,811 shares of the technology company’s stock valued at $346,000 after buying an additional 1,306 shares in the last quarter.

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.