Guidewire Software (NYSE:GWRE) Now Covered by Analysts at Guggenheim

Guggenheim assumed coverage on shares of Guidewire Software (NYSE:GWRE) in a research report report published on Thursday, Marketbeat reports. The brokerage issued a buy rating and a $180.00 price target on the technology company’s stock.

A number of other equities research analysts have also recently commented on GWRE. Wells Fargo & Company decreased their target price on shares of Guidewire Software from $210.00 to $190.00 and set an “overweight” rating on the stock in a research note on Friday, June 5th. Royal Bank Of Canada dropped their price target on shares of Guidewire Software from $250.00 to $215.00 and set an “outperform” rating for the company in a research report on Friday, June 5th. The Goldman Sachs Group reduced their price objective on shares of Guidewire Software from $255.00 to $225.00 and set a “buy” rating for the company in a research note on Friday, June 5th. Zacks Research downgraded shares of Guidewire Software from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 25th. Finally, Oppenheimer lowered their target price on shares of Guidewire Software from $250.00 to $180.00 and set an “outperform” rating on the stock in a research note on Monday, May 18th. Twelve investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $221.00.

Guidewire Software Stock Performance

NYSE:GWRE opened at $131.33 on Thursday. The stock has a 50-day simple moving average of $132.71 and a two-hundred day simple moving average of $141.71. Guidewire Software has a 52-week low of $102.30 and a 52-week high of $272.60. The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.44 and a current ratio of 2.44. The firm has a market capitalization of $10.93 billion, a PE ratio of 70.99 and a beta of 0.95.

Guidewire Software (NYSE:GWRE) last issued its quarterly earnings results on Thursday, June 4th. The technology company reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.08. Guidewire Software had a return on equity of 12.62% and a net margin of 11.25%.The business had revenue of $372.54 million during the quarter, compared to analysts’ expectations of $355.92 million. During the same quarter 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. Analysts forecast that Guidewire Software will post 1.83 EPS for the current year.

Insiders Place Their Bets

In other Guidewire Software news, CFO Jeffrey Elliott Cooper sold 2,594 shares of the company’s stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $118.74, for a total value of $308,011.56. Following the completion of the transaction, the chief financial officer directly owned 63,467 shares in the company, valued at $7,536,071.58. This represents a 3.93% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, President John P. Mullen sold 4,292 shares of the stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $118.74, for a total transaction of $509,632.08. Following the sale, the president directly owned 131,115 shares of the company’s stock, valued at approximately $15,568,595.10. This trade represents a 3.17% 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 valued at $3,792,858 in the last 90 days. 0.46% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Guidewire Software

Several institutional investors have recently bought and sold shares of the stock. Advisors Asset Management Inc. bought a new stake in Guidewire Software in the 1st quarter valued at $25,000. Measured Wealth Private Client Group LLC bought a new position in shares of Guidewire Software during the 3rd quarter valued at about $29,000. Flagship Harbor Advisors LLC bought a new position in shares of Guidewire Software during the 4th quarter valued at about $36,000. Leonteq Securities AG purchased a new position in shares of Guidewire Software during the first quarter valued at about $36,000. Finally, Bogart Wealth LLC grew its position in shares of Guidewire Software by 127.8% during the first quarter. Bogart Wealth LLC now owns 246 shares of the technology company’s stock valued at $37,000 after purchasing an additional 138 shares in the last quarter.

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.