Guidewire Software (NYSE:GWRE) Research Coverage Started at Piper Sandler

Piper Sandler initiated coverage on shares of Guidewire Software (NYSE:GWRE) in a research report sent to investors on Monday morning, Marketbeat reports. The brokerage issued an overweight rating and a $210.00 price target on the technology company’s stock.

Other equities research analysts have also issued reports about the company. Citizens Jmp reduced their target price on Guidewire Software from $300.00 to $220.00 and set a “market outperform” rating for the company in a report on Friday, June 5th. BTIG Research reiterated a “buy” rating and set a $175.00 price target on shares of Guidewire Software in a report on Thursday, July 2nd. Wells Fargo & Company dropped their price target on shares of Guidewire Software from $210.00 to $190.00 and set an “overweight” rating on the stock in a research report on Friday, June 5th. JPMorgan Chase & Co. reduced their price objective on shares of Guidewire Software from $300.00 to $258.00 and set an “overweight” rating for the company in a research note on Tuesday, July 14th. Finally, The Goldman Sachs Group decreased their price objective on shares of Guidewire Software from $255.00 to $225.00 and set a “buy” rating for the company in a report on Friday, June 5th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, Guidewire Software presently has an average rating of “Moderate Buy” and an average price target of $220.21.

Guidewire Software Stock Down 2.2%

GWRE stock opened at $172.82 on Monday. The company has a current ratio of 2.44, a quick ratio of 2.44 and a debt-to-equity ratio of 0.51. Guidewire Software has a 1 year low of $102.30 and a 1 year high of $272.60. The company has a fifty day simple moving average of $137.35 and a 200 day simple moving average of $140.56. The firm has a market cap of $14.39 billion, a PE ratio of 93.42 and a beta of 0.92.

Guidewire Software (NYSE:GWRE) last posted its 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. Guidewire Software had a net margin of 11.25% and a return on equity of 12.62%. The firm had revenue of $372.54 million for the quarter, compared to the consensus estimate of $355.92 million. During the same period in the prior year, the business posted $0.88 earnings per share. The business’s quarterly revenue was up 26.9% on a year-over-year basis. Sell-side analysts anticipate that Guidewire Software will post 1.83 EPS for the current fiscal year.

Insider Activity at Guidewire Software

In related news, President John P. Mullen sold 4,292 shares of the business’s stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $118.74, for a total transaction of $509,632.08. Following the transaction, the president directly owned 131,115 shares in the company, valued at $15,568,595.10. The trade was a 3.17% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Jeffrey Elliott Cooper sold 2,594 shares of the business’s stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $118.74, for a total value of $308,011.56. Following the transaction, the chief financial officer owned 63,467 shares in the company, valued at $7,536,071.58. This represents a 3.93% 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 sold a total of 30,193 shares of company stock worth $3,854,478 over the last ninety days. Corporate insiders own 0.46% of the company’s stock.

Institutional Trading of Guidewire Software

A number of institutional investors and hedge funds have recently modified their holdings of GWRE. Comerica Bank boosted its stake in Guidewire Software by 52.0% in the fourth quarter. Comerica Bank now owns 78,659 shares of the technology company’s stock worth $15,811,000 after purchasing an additional 26,912 shares in the last quarter. Principal Financial Group Inc. increased 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 valued at $176,537,000 after buying an additional 997,992 shares in the last quarter. Stephens Investment Management Group LLC raised its holdings in shares of Guidewire Software by 3.0% in the first quarter. Stephens Investment Management Group LLC now owns 524,818 shares of the technology company’s stock valued at $78,492,000 after buying an additional 15,260 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Guidewire Software by 8.9% in the fourth quarter. Geode Capital Management LLC now owns 1,778,201 shares of the technology company’s stock valued at $357,504,000 after buying an additional 145,924 shares during the last quarter. Finally, Los Angeles Capital Management LLC lifted 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 worth $25,819,000 after buying an additional 7,459 shares in the last quarter.

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.