Guidewire Software (NYSE:GWRE) Price Target Lowered to $175.00 at BTIG Research

Guidewire Software (NYSE:GWRE) had its price objective cut by investment analysts at BTIG Research from $200.00 to $175.00 in a research report issued on Thursday,Benzinga reports. The firm presently has a “buy” rating on the technology company’s stock. BTIG Research’s price target suggests a potential upside of 58.32% from the stock’s current price.

Other equities research analysts also recently issued research reports about the stock. Citizens Jmp cut their target price on shares of Guidewire Software from $300.00 to $220.00 and set a “market outperform” rating for the company in a research report on Friday, June 5th. Weiss Ratings restated a “hold (c)” rating on shares of Guidewire Software in a report on Wednesday, June 3rd. The Goldman Sachs Group dropped their price target on shares of Guidewire Software from $255.00 to $225.00 and set a “buy” rating on the stock in a research note on Friday, June 5th. Zacks Research lowered Guidewire Software from a “strong-buy” rating to a “hold” rating in a report on Monday, May 25th. Finally, Wells Fargo & Company reduced their price objective on Guidewire Software from $210.00 to $190.00 and set an “overweight” rating for the company in a research report on Friday, June 5th. Ten research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Guidewire Software currently has a consensus rating of “Moderate Buy” and a consensus target price of $221.36.

Guidewire Software Price Performance

Shares of GWRE opened at $110.53 on Thursday. The company has a market capitalization of $9.20 billion, a price-to-earnings ratio of 59.75 and a beta of 0.93. Guidewire Software has a fifty-two week low of $102.30 and a fifty-two week high of $272.60. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.44 and a quick ratio of 2.44. The business’s 50-day moving average is $133.24 and its 200-day moving average is $151.51.

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

Insider Activity at Guidewire Software

In related news, CAO David Franklin Peterson sold 246 shares of the business’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 value of $29,210.04. Following the completion of the sale, the chief accounting officer directly owned 12,287 shares in the company, valued at approximately $1,458,958.38. The trade was a 1.96% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through 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, insider James Winston King sold 999 shares of the business’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 value of $118,621.26. Following the completion of the sale, the insider owned 31,702 shares of the company’s stock, valued at approximately $3,764,295.48. This trade represents a 3.05% 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 have sold a total of 29,709 shares of company stock worth $3,740,332 in the last 90 days. Insiders own 0.46% of the company’s stock.

Hedge Funds Weigh In On Guidewire Software

Institutional investors have recently modified their holdings of the company. Advisors Asset Management Inc. acquired a new stake in shares of Guidewire Software in the first quarter worth $25,000. Measured Wealth Private Client Group LLC acquired a new position in Guidewire Software in the 3rd quarter valued at $29,000. Flagship Harbor Advisors LLC bought a new position in Guidewire Software in the 4th quarter worth $36,000. Leonteq Securities AG bought a new position in Guidewire Software in the 1st quarter worth $36,000. Finally, Bogart Wealth LLC raised its holdings in Guidewire Software by 127.8% in the 1st quarter. Bogart Wealth LLC now owns 246 shares of the technology company’s stock worth $37,000 after acquiring an additional 138 shares during the period.

About Guidewire Software

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.