Oppenheimer Issues Pessimistic Forecast for Guidewire Software (NYSE:GWRE) Stock Price

Guidewire Software (NYSE:GWRE) had its price target cut by investment analysts at Oppenheimer from $300.00 to $250.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has an “outperform” rating on the technology company’s stock. Oppenheimer’s target price would indicate a potential upside of 94.22% from the stock’s current price.

GWRE has been the topic of a number of other research reports. Citigroup lifted their target price on Guidewire Software from $242.00 to $245.00 and gave the company a “neutral” rating in a report on Friday, December 5th. Wall Street Zen lowered shares of Guidewire Software from a “buy” rating to a “hold” rating in a report on Friday, November 28th. Weiss Ratings restated a “hold (c)” rating on shares of Guidewire Software in a research note on Thursday, January 22nd. Citizens Jmp restated a “market outperform” rating and set a $281.00 price objective on shares of Guidewire Software in a research note on Wednesday, December 10th. Finally, Wells Fargo & Company reduced their price objective on Guidewire Software from $250.00 to $210.00 and set an “overweight” rating for the company in a research note on Wednesday, February 4th. Eleven equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Guidewire Software has an average rating of “Moderate Buy” and a consensus price target of $255.92.

Guidewire Software Stock Performance

Shares of GWRE opened at $128.72 on Tuesday. The stock has a market capitalization of $10.94 billion, a P/E ratio of 122.05, a P/E/G ratio of 8.23 and a beta of 1.06. Guidewire Software has a 1 year low of $120.37 and a 1 year high of $272.60. The company’s fifty day moving average is $164.23 and its two-hundred day moving average is $204.71. The company has a debt-to-equity ratio of 0.44, a quick ratio of 3.48 and a current ratio of 3.48.

Guidewire Software (NYSE:GWRE) last issued its earnings results on Wednesday, December 3rd. The technology company reported $0.66 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.66. The company had revenue of $332.64 million during the quarter, compared to analysts’ expectations of $316.62 million. Guidewire Software had a net margin of 7.23% and a return on equity of 10.15%. The firm’s quarterly revenue was up 26.5% compared to the same quarter last year. During the same period last year, the company posted $0.43 earnings per share. On average, sell-side analysts predict that Guidewire Software will post 0.52 earnings per share for the current year.

Guidewire Software announced that its board has authorized a share repurchase plan on Thursday, January 8th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the technology company to buy up to 3.1% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its shares are undervalued.

Insider Buying and Selling

In other news, insider James Winston King sold 1,860 shares of the business’s stock in a transaction that occurred on Thursday, December 18th. The shares were sold at an average price of $195.00, for a total value of $362,700.00. Following the completion of the transaction, the insider directly owned 33,702 shares in the company, valued at approximately $6,571,890. The trade was a 5.23% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Michael George Rosenbaum sold 6,015 shares of the stock in a transaction dated Tuesday, December 16th. The stock was sold at an average price of $192.08, for a total transaction of $1,155,361.20. Following the completion of the transaction, the chief executive officer directly owned 240,743 shares of the company’s stock, valued at $46,241,915.44. This trade represents a 2.44% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 47,160 shares of company stock worth $8,917,644 over the last three months. Company insiders own 0.46% of the company’s stock.

Institutional Investors Weigh In On Guidewire Software

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Wealth Enhancement Advisory Services LLC increased its stake in Guidewire Software by 57.0% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 51,694 shares of the technology company’s stock worth $11,735,000 after purchasing an additional 18,774 shares during the period. Scalar Gauge Management LLC purchased a new position in shares of Guidewire Software during the third quarter worth approximately $5,287,000. Allspring Global Investments Holdings LLC bought a new stake in shares of Guidewire Software during the third quarter valued at approximately $51,967,000. Y Intercept Hong Kong Ltd boosted its holdings in shares of Guidewire Software by 59.6% in the third quarter. Y Intercept Hong Kong Ltd now owns 27,763 shares of the technology company’s stock valued at $6,382,000 after purchasing an additional 10,364 shares during the period. Finally, Assenagon Asset Management S.A. increased its holdings in Guidewire Software by 12.8% during the 3rd quarter. Assenagon Asset Management S.A. now owns 150,957 shares of the technology company’s stock worth $34,699,000 after purchasing an additional 17,151 shares during the period.

Guidewire Software Company Profile

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.