Guidewire Software’s (GWRE) “Buy” Rating Reaffirmed at DA Davidson

Guidewire Software (NYSE:GWRE)‘s stock had its “buy” rating reaffirmed by DA Davidson in a note issued to investors on Friday, Benzinga reports. They currently have a $222.00 price target on the technology company’s stock. DA Davidson’s target price indicates a potential upside of 45.14% from the company’s previous close.

A number of other research analysts have also recently weighed in on the stock. Needham & Company LLC reiterated a “hold” rating on shares of Guidewire Software in a research report on Friday, September 4th. Citizens Jmp reiterated a “market outperform” rating and set a $220.00 price objective on shares of Guidewire Software in a research report on Friday, September 4th. Robert W. Baird boosted their price objective on shares of Guidewire Software from $202.00 to $235.00 and gave the company an “outperform” rating in a research report on Monday, August 31st. Guggenheim boosted their price objective on shares of Guidewire Software from $180.00 to $210.00 and gave the company a “buy” rating in a research report on Thursday, August 27th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and set a $215.00 price objective on shares of Guidewire Software in a research report on Friday, September 4th. Twelve research 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 currently has an average rating of “Moderate Buy” and a consensus price target of $216.23.

Guidewire Software Trading Down 1.5%

Shares of NYSE:GWRE traded down $2.36 during trading on Friday, hitting $152.96. The company had a trading volume of 476,344 shares, compared to its average volume of 1,568,914. The stock has a market cap of $12.74 billion, a price-to-earnings ratio of 93.62 and a beta of 1.03. Guidewire Software has a one year low of $102.30 and a one year high of $255.89. The company has a fifty day simple moving average of $165.21 and a two-hundred day simple moving average of $146.80. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.79 and a quick ratio of 1.79.

Guidewire Software (NYSE:GWRE) last posted its quarterly earnings data on Thursday, September 3rd. The technology company reported $0.99 earnings per share for the quarter, beating 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 business had revenue of $411.09 million for the quarter, compared to analysts’ expectations of $402.61 million. During the same quarter in the previous year, the business posted $0.84 earnings per share. The business’s revenue was up 15.3% compared to the same quarter last year. As a group, equities analysts forecast that Guidewire Software will post 2.45 earnings per share for the current year.

Insider Buying and Selling

In other news, CAO David Peterson sold 2,500 shares of Guidewire Software stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $200.00, for a total value of $500,000.00. Following the completion of the transaction, the chief accounting officer owned 9,787 shares in the company, valued at approximately $1,957,400. This trade represents a 20.35% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President John Mullen sold 39,683 shares of Guidewire Software stock in a transaction dated Thursday, September 17th. The shares were sold at an average price of $144.47, for a total value of $5,733,003.01. Following the completion of the transaction, the president owned 183,647 shares of the company’s stock, valued at $26,531,482.09. The trade was a 17.77% decrease in their position. The SEC filing for this sale provides additional information. 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 over the last 90 days. 0.46% of the stock is owned by insiders.

Institutional Inflows and Outflows

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