Guidewire Software’s (GWRE) “Buy” Rating Reiterated at DA Davidson

DA Davidson reaffirmed their buy rating on shares of Guidewire Software (NYSE:GWRE) in a research report report published on Tuesday,Benzinga reports. The firm currently has a $246.00 price objective on the technology company’s stock.

Several other research analysts have also recently commented on the company. Royal Bank Of Canada reduced their price target on Guidewire Software from $300.00 to $250.00 and set an “outperform” rating for the company in a research report on Friday, March 6th. Stifel Nicolaus lowered their price target on Guidewire Software from $300.00 to $250.00 and set a “buy” rating on the stock in a research report on Friday, March 6th. Citizens Jmp reiterated a “market outperform” rating and set a $281.00 price objective on shares of Guidewire Software in a research note on Wednesday, December 10th. Weiss Ratings reissued a “hold (c)” rating on shares of Guidewire Software in a report on Thursday, January 22nd. Finally, Oppenheimer decreased their target price on shares of Guidewire Software from $300.00 to $250.00 and set an “outperform” rating for the company in a research note on Tuesday, February 24th. Eleven analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $249.85.

Guidewire Software Stock Down 0.4%

Guidewire Software stock opened at $157.59 on Tuesday. The company has a current ratio of 2.93, a quick ratio of 3.48 and a debt-to-equity ratio of 0.45. Guidewire Software has a 1-year low of $120.37 and a 1-year high of $272.60. The company has a fifty day simple moving average of $151.30 and a 200 day simple moving average of $199.41. The company has a market cap of $13.34 billion, a P/E ratio of 71.63, a price-to-earnings-growth ratio of 10.20 and a beta of 1.06.

Guidewire Software (NYSE:GWRE) last issued its quarterly earnings results on Thursday, March 5th. The technology company reported $1.17 EPS for the quarter, topping the consensus estimate of $0.77 by $0.40. The firm had revenue of $359.10 million for the quarter, compared to analysts’ expectations of $342.88 million. Guidewire Software had a net margin of 14.11% and a return on equity of 13.44%. The company’s revenue for the quarter was up 24.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.51 EPS. Research analysts anticipate that Guidewire Software will post 0.52 earnings per share for the current fiscal year.

Guidewire Software announced that its board has initiated a stock repurchase plan on Thursday, January 8th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the technology company to reacquire up to 3.1% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling

In related news, CFO Jeffrey Elliott Cooper sold 216 shares of the stock in a transaction on Tuesday, January 13th. The stock was sold at an average price of $180.87, for a total value of $39,067.92. Following the sale, the chief financial officer owned 72,753 shares in the company, valued at approximately $13,158,835.11. This represents a 0.30% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael George Rosenbaum sold 1,200 shares of the firm’s stock in a transaction on Monday, March 9th. The shares were sold at an average price of $166.34, for a total value of $199,608.00. Following the sale, the chief executive officer directly owned 227,143 shares of the company’s stock, valued at $37,782,966.62. This represents a 0.53% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 42,560 shares of company stock valued at $7,882,898. Insiders own 0.46% of the company’s stock.

Hedge Funds Weigh In On Guidewire Software

Large investors have recently modified their holdings of the stock. Wealth Enhancement Advisory Services LLC lifted its position in Guidewire Software by 57.0% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 51,694 shares of the technology company’s stock worth $11,735,000 after acquiring an additional 18,774 shares during the last quarter. Scalar Gauge Management LLC acquired a new position in shares of Guidewire Software in the third quarter valued at approximately $5,287,000. American Century Companies Inc. grew its position in shares of Guidewire Software by 3.4% in the third quarter. American Century Companies Inc. now owns 520,390 shares of the technology company’s stock valued at $119,617,000 after purchasing an additional 17,104 shares during the last quarter. Dynamic Technology Lab Private Ltd increased its stake in shares of Guidewire Software by 901.1% during the third quarter. Dynamic Technology Lab Private Ltd now owns 9,110 shares of the technology company’s stock worth $2,094,000 after purchasing an additional 8,200 shares during the period. Finally, Allspring Global Investments Holdings LLC acquired a new stake in Guidewire Software during the 3rd quarter worth approximately $51,967,000.

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.