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

Guidewire Software (NYSE:GWRE)‘s stock had its “buy” rating reiterated by stock analysts at DA Davidson in a research report issued on Friday, Benzinga reports. They currently have a $222.00 price objective on the technology company’s stock. DA Davidson’s price target suggests a potential upside of 45.80% from the stock’s previous close.

GWRE has been the subject of several other reports. Citizens Jmp restated a “market outperform” rating and set a $220.00 price target on shares of Guidewire Software in a research report on Friday, September 4th. 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. Robert W. Baird increased their target price on Guidewire Software from $202.00 to $235.00 and gave the company an “outperform” rating in a report on Monday, August 31st. BTIG Research raised their price target on Guidewire Software from $175.00 to $230.00 and gave the stock a “buy” rating in a research report on Wednesday, September 2nd. Finally, Piper Sandler reiterated an “overweight” rating and issued a $210.00 price objective on shares of Guidewire Software in a research report on Friday, September 4th. Twelve analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, Guidewire Software currently has an average rating of “Moderate Buy” and a consensus price target of $216.23.

Guidewire Software Price Performance

NYSE GWRE traded down $3.06 during trading hours on Friday, reaching $152.27. 631,973 shares of the stock traded hands, compared to its average volume of 1,569,692. 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 has a 50 day simple moving average of $165.21 and a two-hundred day simple moving average of $146.80. Guidewire Software has a 1 year low of $102.30 and a 1 year high of $255.89. The company has a market cap of $12.68 billion, a price-to-earnings ratio of 93.62 and a beta of 1.03.

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

Insider Activity at Guidewire Software

In other Guidewire Software news, CEO Michael Rosenbaum sold 72,290 shares of the stock in a transaction that occurred on Thursday, September 17th. The stock was sold at an average price of $144.47, for a total value of $10,443,736.30. Following the completion of the sale, the chief executive officer owned 280,866 shares in the company, valued at approximately $40,576,711.02. This trade represents a 20.47% decrease in their position. The transaction 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. 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 Guidewire Software stock in a transaction that occurred on Thursday, September 17th. The stock was sold at an average price of $144.47, for a total value of $5,733,003.01. Following the completion of the sale, the president owned 183,647 shares in the company, valued at approximately $26,531,482.09. This represents a 17.77% decrease in their ownership of the stock. 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 worth $28,794,756 over the last 90 days. 0.46% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in GWRE. Principal Financial Group Inc. grew its stake in shares of Guidewire Software by 547.3% in the first quarter. Principal Financial Group Inc. now owns 1,180,334 shares of the technology company’s stock worth $176,537,000 after acquiring an additional 997,992 shares during the last quarter. Stephens Investment Management Group LLC raised its position in shares of Guidewire Software by 3.0% in the 1st quarter. Stephens Investment Management Group LLC now owns 524,818 shares of the technology company’s stock worth $78,492,000 after purchasing an additional 15,260 shares during the last quarter. Entropy Technologies LP bought a new position in Guidewire Software in the 4th quarter worth about $5,837,000. Weiss Asset Management LP bought a new position in Guidewire Software in the 1st quarter worth about $6,087,000. Finally, Los Angeles Capital Management LLC grew its position in Guidewire Software by 6.2% during the 4th quarter. Los Angeles Capital Management LLC now owns 128,447 shares of the technology company’s stock valued at $25,819,000 after purchasing an additional 7,459 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.