Guidewire Software (NYSE:GWRE) Earns Buy Rating from Analysts at Guggenheim

Guggenheim initiated coverage on shares of Guidewire Software (NYSE:GWRE) in a report published on Thursday, MarketBeat Ratings reports. The firm issued a buy rating and a $180.00 price target on the technology company’s stock.

GWRE has been the subject of several other research reports. Citizens Jmp cut their price target on Guidewire Software from $300.00 to $220.00 and set a “market outperform” rating for the company in a report on Friday, June 5th. JPMorgan Chase & Co. decreased their price objective on Guidewire Software from $300.00 to $258.00 and set an “overweight” rating on the stock in a report on Tuesday, July 14th. Oppenheimer decreased their price objective on Guidewire Software from $250.00 to $180.00 and set an “outperform” rating on the stock in a report on Monday, May 18th. Weiss Ratings reiterated a “hold (c)” rating on shares of Guidewire Software in a research report on Wednesday, June 3rd. Finally, Stifel Nicolaus cut their target price on shares of Guidewire Software from $225.00 to $200.00 and set a “buy” rating for the company in a report on Friday, June 5th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $221.00.

Guidewire Software Stock Up 5.3%

GWRE opened at $138.34 on Thursday. The firm has a 50-day simple moving average of $132.87 and a two-hundred day simple moving average of $141.68. Guidewire Software has a 52 week low of $102.30 and a 52 week high of $272.60. The company has a market capitalization of $11.52 billion, a PE ratio of 74.78 and a beta of 0.95. The company has a quick ratio of 2.44, a current ratio of 2.44 and a debt-to-equity ratio of 0.51.

Guidewire Software (NYSE:GWRE) last issued its quarterly earnings data on Thursday, June 4th. The technology company reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.08. Guidewire Software had a return on equity of 12.62% and a net margin of 11.25%.The firm had revenue of $372.54 million during the quarter, compared to analyst estimates of $355.92 million. During the same quarter last year, the business posted $0.88 earnings per share. The business’s quarterly revenue was up 26.9% compared to the same quarter last year. Analysts forecast that Guidewire Software will post 1.83 earnings per share for the current fiscal year.

Insider Buying and Selling at Guidewire Software

In other Guidewire Software news, CEO Michael George Rosenbaum sold 5,830 shares of the company’s stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $118.74, for a total transaction of $692,254.20. Following the sale, the chief executive officer directly owned 199,776 shares in the company, valued at $23,721,402.24. This represents a 2.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. 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, President John P. Mullen sold 4,292 shares of the firm’s stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $118.74, for a total value of $509,632.08. Following the completion of the sale, the president directly owned 131,115 shares of the company’s stock, valued at $15,568,595.10. The trade was a 3.17% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 30,193 shares of company stock worth $3,792,858 in the last 90 days. 0.46% of the stock is currently owned by insiders.

Institutional Trading of Guidewire Software

Several hedge funds and other institutional investors have recently bought and sold shares of GWRE. Advisors Asset Management Inc. purchased a new position in Guidewire Software during the first quarter worth $25,000. Amundi raised its stake in shares of Guidewire Software by 703.0% in the second quarter. Amundi now owns 36,093 shares of the technology company’s stock valued at $8,220,000 after acquiring an additional 31,598 shares during the period. Jump Financial LLC bought a new stake in shares of Guidewire Software in the 2nd quarter worth about $305,000. Bank of Nova Scotia lifted its holdings in shares of Guidewire Software by 30.9% in the 2nd quarter. Bank of Nova Scotia now owns 2,024 shares of the technology company’s stock worth $477,000 after acquiring an additional 478 shares during the last quarter. Finally, NewEdge Advisors LLC lifted its holdings in shares of Guidewire Software by 30.6% in the 2nd quarter. NewEdge Advisors LLC now owns 4,911 shares of the technology company’s stock worth $1,156,000 after acquiring an additional 1,152 shares during 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.