Guidewire Software (NYSE:GWRE) Price Target Lowered to $250.00 at Oppenheimer

Guidewire Software (NYSE:GWRE) had its price target decreased by Oppenheimer from $300.00 to $250.00 in a report issued on Tuesday,Benzinga reports. Oppenheimer currently has an outperform rating on the technology company’s stock.

Several other brokerages have also issued reports on GWRE. BTIG Research lowered their target price on Guidewire Software from $225.00 to $175.00 and set a “buy” rating for the company in a research report on Wednesday, February 18th. Wells Fargo & Company lowered their price objective on Guidewire Software from $250.00 to $210.00 and set an “overweight” rating for the company in a research report on Wednesday, February 4th. Zacks Research lowered Guidewire Software from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 2nd. Citizens Jmp reissued a “market outperform” rating and set a $281.00 target price on shares of Guidewire Software in a research report on Wednesday, December 10th. Finally, Citigroup raised their price target on shares of Guidewire Software from $242.00 to $245.00 and gave the stock a “neutral” rating in a report on Friday, December 5th. Eleven research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $255.92.

Guidewire Software Price Performance

GWRE stock opened at $128.28 on Tuesday. The stock has a market cap of $10.91 billion, a price-to-earnings ratio of 122.17, a P/E/G ratio of 7.88 and a beta of 1.06. The company has a debt-to-equity ratio of 0.44, a current ratio of 3.48 and a quick ratio of 3.48. The company has a 50 day simple moving average of $162.91 and a 200 day simple moving average of $204.11. Guidewire Software has a 1 year low of $120.37 and a 1 year high of $272.60.

Guidewire Software (NYSE:GWRE) last posted its earnings results on Wednesday, December 3rd. The technology company reported $0.66 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.66. The firm had revenue of $332.64 million for 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 company’s revenue was up 26.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.43 earnings per share. Research analysts anticipate that Guidewire Software will post 0.52 EPS for the current fiscal year.

Guidewire Software announced that its Board of Directors has approved a stock repurchase program on Thursday, January 8th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the technology company to buy up to 3.1% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

Insider Activity at Guidewire Software

In other news, President John P. Mullen sold 7,975 shares of the company’s stock in a transaction dated Tuesday, December 16th. The shares were sold at an average price of $192.08, for a total transaction of $1,531,838.00. Following the transaction, the president owned 141,983 shares in the company, valued at approximately $27,272,094.64. This represents a 5.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 transaction, the chief executive officer directly owned 240,743 shares in the company, 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 47,160 shares of company stock worth $8,917,644 over the last quarter. 0.46% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Advisors Asset Management Inc. acquired a new stake in Guidewire Software in the first quarter valued at approximately $25,000. Focus Partners Advisor Solutions LLC lifted its holdings in shares of Guidewire Software by 223.1% in the 2nd quarter. Focus Partners Advisor Solutions LLC now owns 4,074 shares of the technology company’s stock worth $959,000 after purchasing an additional 2,813 shares in the last quarter. MQS Management LLC bought a new position in shares of Guidewire Software in the 2nd quarter worth $231,000. Brighton Jones LLC acquired a new position in shares of Guidewire Software during the second quarter valued at about $447,000. Finally, Y Intercept Hong Kong Ltd acquired a new position in shares of Guidewire Software during the second quarter valued at about $4,097,000.

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.