Guidewire Software (NYSE:GWRE) Stock Keeps “Buy” Rating at DA Davidson

Guidewire Software (NYSE:GWRE)‘s stock had its “buy” rating restated by investment analysts at DA Davidson in a research report issued to clients and investors on Friday, Benzinga reports. They currently have a $222.00 target price on the technology company’s stock. DA Davidson’s target price would suggest a potential upside of 44.88% from the company’s current price.

A number of other equities research analysts also recently weighed in on GWRE. Oppenheimer upped their target price on Guidewire Software from $200.00 to $210.00 and gave the stock an “outperform” rating in a research report on Friday, September 4th. The Goldman Sachs Group cut their target price 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. Wells Fargo & Company upped their price target on shares of Guidewire Software from $190.00 to $195.00 and gave the stock an “overweight” rating in a research note on Friday, September 4th. JPMorgan Chase & Co. dropped their price target on shares of Guidewire Software from $300.00 to $258.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 14th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $215.00 price target on shares of Guidewire Software in a research note on Friday, September 4th. 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 company presently has an average rating of “Moderate Buy” and an average price target of $216.23.

Guidewire Software Stock Performance

Shares of NYSE GWRE traded down $2.09 during midday trading on Friday, hitting $153.23. 233,103 shares of the company’s stock were exchanged, compared to its average volume of 1,567,360. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.79 and a quick ratio of 1.79. The stock’s 50 day moving average price is $165.21 and its 200-day moving average price is $146.80. The firm has a market cap of $12.76 billion, a P/E ratio of 94.11 and a beta of 1.03. Guidewire Software has a twelve month low of $102.30 and a twelve month high of $255.89.

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

Insiders Place Their Bets

In related news, CAO David Peterson sold 1,905 shares of the stock in a transaction dated Thursday, September 17th. The shares were sold at an average price of $144.47, for a total value of $275,215.35. Following the completion of the transaction, the chief accounting officer owned 12,233 shares of the company’s stock, valued at $1,767,301.51. This represents a 13.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at 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, President John Mullen sold 39,683 shares of the firm’s stock in a transaction that occurred on Thursday, September 17th. The stock was sold at an average price of $144.47, for a total transaction of $5,733,003.01. Following the sale, the president directly owned 183,647 shares of the company’s stock, valued at approximately $26,531,482.09. The trade was a 17.77% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 193,232 shares of company stock valued at $28,794,756 in the last quarter. 0.46% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Guidewire Software

A number of hedge funds and other institutional investors have recently made changes to their positions in GWRE. Greenwich Wealth Management LLC raised its holdings in shares of 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. boosted its holdings 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 buying an additional 258 shares during the period. Tidal Investments LLC boosted its holdings in shares of Guidewire Software by 20.5% during the 2nd quarter. Tidal Investments LLC now owns 11,134 shares of the technology company’s stock worth $1,370,000 after buying an additional 1,895 shares during the period. Integrated Wealth Concepts LLC bought a new stake in Guidewire Software in the 2nd quarter valued at about $53,000. Finally, Baird Financial Group Inc. boosted its holdings in Guidewire Software by 86.8% in the 2nd quarter. Baird Financial Group Inc. now owns 2,811 shares of the technology company’s stock valued at $346,000 after purchasing an additional 1,306 shares during the period.

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.