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

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

A number of other analysts also recently weighed in on GWRE. Piper Sandler reaffirmed an “overweight” rating and set a $210.00 price target on shares of Guidewire Software in a report on Friday, September 4th. Weiss Ratings restated a “hold (c)” rating on shares of Guidewire Software in a research report on Monday, August 31st. The Goldman Sachs Group cut their target price on Guidewire Software from $255.00 to $225.00 and set a “buy” rating for the company in a research note on Friday, June 5th. BTIG Research raised their target price on Guidewire Software from $175.00 to $230.00 and gave the company a “buy” rating in a report on Wednesday, September 2nd. Finally, Guggenheim lifted their price target on Guidewire Software from $180.00 to $210.00 and gave the company a “buy” rating in a research note on Thursday, August 27th. Twelve research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $216.23.

Guidewire Software Price Performance

Shares of NYSE GWRE traded down $3.31 during mid-day trading on Friday, reaching $152.01. The company had a trading volume of 175,734 shares, compared to its average volume of 1,567,240. 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 has a one year low of $102.30 and a one year high of $255.89. The firm has a market cap of $12.66 billion, a price-to-earnings ratio of 92.91 and a beta of 1.03. The business’s 50-day simple moving average is $165.21 and its 200 day simple moving average is $146.80.

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

Insider Activity at Guidewire Software

In related news, CAO David Peterson sold 1,905 shares of the company’s stock in a transaction that occurred on Thursday, September 17th. The shares were sold at an average price of $144.47, for a total transaction of $275,215.35. Following the completion of the transaction, the chief accounting officer directly owned 12,233 shares in the company, valued at $1,767,301.51. This represents a 13.47% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available 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, insider James King sold 1,381 shares of the stock in a transaction that occurred on Friday, September 18th. The shares were sold at an average price of $144.98, for a total transaction of $200,217.38. Following the completion of the transaction, the insider directly owned 44,558 shares of the company’s stock, valued at approximately $6,460,018.84. The trade was a 3.01% 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. Insiders sold a total of 193,232 shares of company stock worth $28,794,756 in the last ninety days. Insiders own 0.46% of the company’s stock.

Institutional Investors Weigh In On Guidewire Software

Several hedge funds have recently modified their holdings of the company. Fiduciary Financial Advisors bought a new position in Guidewire Software in the second quarter valued at about $29,000. Silvant Capital Management LLC bought a new stake in shares of Guidewire Software during the second quarter worth about $33,000. Leonteq Securities AG bought a new stake in shares of Guidewire Software during the first quarter worth about $36,000. Bogart Wealth LLC increased its stake in shares of Guidewire Software by 127.8% in the first quarter. Bogart Wealth LLC now owns 246 shares of the technology company’s stock valued at $37,000 after buying an additional 138 shares during the period. Finally, Rakuten Securities Inc. acquired a new position in shares of Guidewire Software in the second quarter valued at approximately $49,000.

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.