Guidewire Software (NYSE:GWRE) Earns Buy Rating from BTIG Research

Guidewire Software (NYSE:GWRE)‘s stock had its “buy” rating reiterated by research analysts at BTIG Research in a research note issued on Thursday,Benzinga reports. They presently have a $175.00 price objective on the technology company’s stock. BTIG Research’s price target suggests a potential upside of 37.20% from the company’s current price.

Other analysts also recently issued research reports about the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Guidewire Software in a report on Wednesday, June 3rd. Oppenheimer dropped their price target on shares of Guidewire Software from $250.00 to $180.00 and set an “outperform” rating for the company in a research report on Monday, May 18th. Wells Fargo & Company dropped their price target on shares of Guidewire Software from $210.00 to $190.00 and set an “overweight” rating for the company in a research report on Friday, June 5th. DA Davidson cut their price target on Guidewire Software from $246.00 to $222.00 and set a “buy” rating for the company in a research note on Monday, June 8th. Finally, Citizens Jmp reduced their price target on Guidewire Software from $300.00 to $220.00 and set a “market outperform” rating on the stock in a research report on Friday, June 5th. Ten investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $221.36.

Guidewire Software Stock Performance

Shares of NYSE GWRE opened at $127.55 on Thursday. 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 stock’s fifty day moving average price is $131.60 and its two-hundred day moving average price is $148.62. Guidewire Software has a one year low of $102.30 and a one year high of $272.60. The firm has a market cap of $10.62 billion, a price-to-earnings ratio of 68.95 and a beta of 0.95.

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

Insider Activity

In other news, insider James Winston King sold 999 shares of the business’s stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $118.74, for a total value of $118,621.26. Following the completion of the transaction, the insider directly owned 31,702 shares in the company, valued at approximately $3,764,295.48. The trade was a 3.05% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Michael George Rosenbaum sold 1,200 shares of the company’s stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $105.67, for a total transaction of $126,804.00. Following the sale, the chief executive officer directly owned 198,576 shares of the company’s stock, valued at approximately $20,983,525.92. This trade represents a 0.60% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 29,709 shares of company stock valued at $3,740,332. Company insiders own 0.46% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Pacer Advisors Inc. raised its position in Guidewire Software by 3.5% during the first quarter. Pacer Advisors Inc. now owns 13,996 shares of the technology company’s stock valued at $2,093,000 after purchasing an additional 468 shares in the last quarter. Empowered Funds LLC boosted its holdings in shares of Guidewire Software by 239.1% in the 1st quarter. Empowered Funds LLC now owns 7,538 shares of the technology company’s stock valued at $1,127,000 after purchasing an additional 5,315 shares in the last quarter. Parallel Advisors LLC boosted its holdings in shares of Guidewire Software by 44.7% in the 1st quarter. Parallel Advisors LLC now owns 4,561 shares of the technology company’s stock valued at $682,000 after purchasing an additional 1,409 shares in the last quarter. Glenmede Trust Co. NA increased its stake in shares of Guidewire Software by 35.5% in the 1st quarter. Glenmede Trust Co. NA now owns 2,030 shares of the technology company’s stock valued at $304,000 after purchasing an additional 532 shares during the last quarter. Finally, Edgestream Partners L.P. bought a new position in shares of Guidewire Software in the 1st quarter valued at $637,000.

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.