Guidewire Software (NYSE:GWRE) Given “Buy” Rating at BTIG Research

BTIG Research reiterated their buy rating on shares of Guidewire Software (NYSE:GWRE) in a report issued on Tuesday morning,Benzinga reports. The firm currently has a $250.00 target price on the technology company’s stock.

GWRE has been the topic of several other reports. Zacks Research cut Guidewire Software from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 2nd. DA Davidson upgraded shares of Guidewire Software from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $246.00 to $250.00 in a research report on Wednesday, December 17th. Weiss Ratings reiterated a “hold (c)” rating on shares of Guidewire Software in a research report on Thursday, January 22nd. Citizens Jmp reaffirmed a “market outperform” rating and set a $281.00 price target on shares of Guidewire Software in a research report on Wednesday, December 10th. Finally, Citigroup raised their price objective on shares of Guidewire Software from $242.00 to $245.00 and gave the stock a “neutral” rating in a research report on Friday, December 5th. Twelve equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $269.50.

Guidewire Software Price Performance

Shares of NYSE:GWRE opened at $160.32 on Tuesday. The firm has a market cap of $13.63 billion, a PE ratio of 152.69, a price-to-earnings-growth ratio of 10.55 and a beta of 1.08. Guidewire Software has a 52 week low of $154.51 and a 52 week high of $272.60. The firm’s fifty day moving average is $193.65 and its 200-day moving average is $216.96. 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 announced its earnings results on Wednesday, December 3rd. The technology company reported $0.66 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.66. Guidewire Software had a return on equity of 10.15% and a net margin of 7.23%.The business had revenue of $332.64 million during the quarter, compared to analyst estimates of $316.62 million. During the same period last year, the company earned $0.43 EPS. Guidewire Software’s revenue for the quarter was up 26.5% compared to the same quarter last year. Sell-side analysts predict that Guidewire Software will post 0.52 earnings per share for the current year.

Guidewire Software declared that its Board of Directors has initiated a share repurchase program on Thursday, January 8th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the technology company to purchase up to 3.1% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling at Guidewire Software

In other Guidewire Software news, insider James Winston King sold 1,860 shares of the business’s stock in a transaction on Thursday, December 18th. The shares were sold at an average price of $195.00, for a total transaction of $362,700.00. Following the completion of the sale, the insider 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 document filed with the SEC, which can be accessed through the SEC website. Also, CEO Michael George Rosenbaum sold 1,200 shares of the firm’s stock in a transaction on Monday, January 26th. The shares were sold at an average price of $160.32, for a total transaction of $192,384.00. Following the completion of the transaction, the chief executive officer directly owned 234,343 shares in the company, valued at $37,569,869.76. This trade represents a 0.51% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 51,558 shares of company stock worth $10,261,857. 0.46% of the stock is owned by company insiders.

Hedge Funds Weigh In On Guidewire Software

Hedge funds have recently added to or reduced their stakes in the stock. Advisors Asset Management Inc. purchased a new stake in shares of Guidewire Software in the first quarter worth approximately $25,000. HB Wealth Management LLC grew its holdings in Guidewire Software by 1.6% during the second quarter. HB Wealth Management LLC now owns 20,481 shares of the technology company’s stock worth $4,822,000 after buying an additional 314 shares in the last quarter. Poinciana Advisors Group LLC raised its position in Guidewire Software by 5.9% in the 2nd quarter. Poinciana Advisors Group LLC now owns 1,247 shares of the technology company’s stock valued at $294,000 after buying an additional 70 shares during the last quarter. Truist Financial Corp lifted its stake in Guidewire Software by 16.0% during the 2nd quarter. Truist Financial Corp now owns 11,792 shares of the technology company’s stock valued at $2,776,000 after acquiring an additional 1,628 shares in the last quarter. Finally, CHURCHILL MANAGEMENT Corp purchased a new position in Guidewire Software during the 2nd quarter worth $8,511,000.

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.