Guidewire Software’s (GWRE) Buy Rating Reaffirmed at BTIG Research

Guidewire Software (NYSE:GWRE)‘s stock had its “buy” rating reissued by BTIG Research in a report released on Tuesday,Benzinga reports. They currently have a $250.00 target price on the technology company’s stock. BTIG Research’s price target would indicate a potential upside of 54.26% from the company’s current price.

A number of other research analysts have also commented on GWRE. Zacks Research lowered Guidewire Software from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 2nd. Citigroup raised their price target on Guidewire Software from $242.00 to $245.00 and gave the company a “neutral” rating in a report on Friday, December 5th. Weiss Ratings reiterated a “hold (c)” rating on shares of Guidewire Software in a research report on Thursday. Citizens Jmp restated 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, Wall Street Zen lowered shares of Guidewire Software from a “buy” rating to a “hold” rating in a research note on Friday, November 28th. Twelve research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $269.50.

Guidewire Software Stock Performance

Shares of NYSE:GWRE opened at $162.07 on Tuesday. Guidewire Software has a twelve month low of $154.51 and a twelve month high of $272.60. The firm has a market cap of $13.78 billion, a PE ratio of 154.35, a price-to-earnings-growth ratio of 10.42 and a beta of 1.08. The company has a debt-to-equity ratio of 0.44, a quick ratio of 3.48 and a current ratio of 3.48. The business has a fifty day moving average of $194.72 and a 200-day moving average of $217.38.

Guidewire Software (NYSE:GWRE) last issued its quarterly 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. The business had revenue of $332.64 million for the quarter, compared to the consensus estimate of $316.62 million. Guidewire Software had a net margin of 7.23% and a return on equity of 10.15%. The firm’s quarterly revenue was up 26.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.43 EPS. On average, equities research analysts predict that Guidewire Software will post 0.52 EPS for the current fiscal year.

Guidewire Software announced that its Board of Directors has authorized a share repurchase plan 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 plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Insider Activity

In other Guidewire Software news, CFO Jeffrey Elliott Cooper sold 2,872 shares of the company’s stock in a transaction that occurred on Tuesday, December 16th. The shares were sold at an average price of $192.08, for a total value of $551,653.76. Following the completion of the sale, the chief financial officer owned 74,201 shares of the company’s stock, valued at approximately $14,252,528.08. This represents a 3.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael George Rosenbaum sold 6,015 shares of the business’s stock in a transaction on Tuesday, December 16th. The shares were sold at an average price of $192.08, for a total transaction of $1,155,361.20. Following the completion of the transaction, the chief executive officer directly owned 240,743 shares of the company’s stock, valued at $46,241,915.44. This trade represents a 2.44% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 51,558 shares of company stock worth $10,261,857 in the last ninety days. Company insiders own 0.46% of the company’s stock.

Hedge Funds Weigh In On Guidewire Software

Several institutional investors have recently modified their holdings of GWRE. Wealth Enhancement Advisory Services LLC grew its holdings in Guidewire Software by 57.0% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 51,694 shares of the technology company’s stock valued at $11,735,000 after buying an additional 18,774 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new stake in shares of Guidewire Software in the third quarter valued at about $51,967,000. Assenagon Asset Management S.A. grew its stake in shares of Guidewire Software by 12.8% in the third quarter. Assenagon Asset Management S.A. now owns 150,957 shares of the technology company’s stock valued at $34,699,000 after acquiring an additional 17,151 shares in the last quarter. Y Intercept Hong Kong Ltd grew its stake in shares of Guidewire Software by 59.6% in the third quarter. Y Intercept Hong Kong Ltd now owns 27,763 shares of the technology company’s stock valued at $6,382,000 after acquiring an additional 10,364 shares in the last quarter. Finally, CWM LLC increased its position in Guidewire Software by 43.8% during the third quarter. CWM LLC now owns 31,772 shares of the technology company’s stock worth $7,303,000 after acquiring an additional 9,670 shares during the period.

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.