Brokerages Set Guidewire Software, Inc. (NYSE:GWRE) Price Target at $221.36

Guidewire Software, Inc. (NYSE:GWRE) has been assigned an average recommendation of “Moderate Buy” from the thirteen analysts that are presently covering the stock, MarketBeat.com reports. Three investment analysts have rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $221.3636.

A number of research analysts have commented on the company. Zacks Research cut Guidewire Software from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 25th. Citizens Jmp lowered their target price on Guidewire Software from $300.00 to $220.00 and set a “market outperform” rating for the company in a research note on Friday, June 5th. BTIG Research reiterated a “buy” rating and set a $175.00 target price on shares of Guidewire Software in a report on Thursday. Oppenheimer reduced their price target on Guidewire Software from $250.00 to $180.00 and set an “outperform” rating on the stock in a research report on Monday, May 18th. Finally, The Goldman Sachs Group decreased their price target on Guidewire Software from $255.00 to $225.00 and set a “buy” rating for the company in a report on Friday, June 5th.

Insider Activity at Guidewire Software

In other news, insider James Winston King sold 999 shares of the business’s stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $118.74, for a total transaction of $118,621.26. Following the transaction, the insider directly owned 31,702 shares of the company’s stock, valued at approximately $3,764,295.48. The trade was a 3.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO David Franklin Peterson sold 246 shares of the company’s stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $118.74, for a total transaction of $29,210.04. Following the completion of the transaction, the chief accounting officer owned 12,287 shares of the company’s stock, valued at $1,458,958.38. This trade represents a 1.96% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders have sold 28,509 shares of company stock valued at $3,558,964. 0.46% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Guidewire Software

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. CX Institutional increased its position in shares of Guidewire Software by 493.3% during the second quarter. CX Institutional now owns 795 shares of the technology company’s stock worth $98,000 after acquiring an additional 661 shares during the last quarter. Pacer Advisors Inc. boosted its holdings in Guidewire Software by 3.5% in the first quarter. Pacer Advisors Inc. now owns 13,996 shares of the technology company’s stock valued at $2,093,000 after purchasing an additional 468 shares during the last quarter. Empowered Funds LLC boosted its holdings in Guidewire Software by 239.1% in the first quarter. Empowered Funds LLC now owns 7,538 shares of the technology company’s stock valued at $1,127,000 after purchasing an additional 5,315 shares during the last quarter. Parallel Advisors LLC grew its stake in Guidewire Software by 44.7% during the 1st quarter. Parallel Advisors LLC now owns 4,561 shares of the technology company’s stock valued at $682,000 after purchasing an additional 1,409 shares in the last quarter. Finally, Glenmede Trust Co. NA grew its stake in Guidewire Software by 35.5% during the 1st quarter. Glenmede Trust Co. NA now owns 2,030 shares of the technology company’s stock valued at $304,000 after purchasing an additional 532 shares in the last quarter.

Guidewire Software Stock Performance

Shares of GWRE stock opened at $134.21 on Monday. The company’s fifty day simple moving average is $131.28 and its 200-day simple moving average is $147.70. Guidewire Software has a 52 week low of $102.30 and a 52 week high of $272.60. The company has a current ratio of 2.44, a quick ratio of 2.44 and a debt-to-equity ratio of 0.51. The company has a market cap of $11.17 billion, a PE ratio of 72.55 and a beta of 0.95.

Guidewire Software (NYSE:GWRE) last posted its earnings results on Thursday, June 4th. The technology company reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.08. Guidewire Software had a net margin of 11.25% and a return on equity of 12.62%. The business had revenue of $372.54 million for the quarter, compared to analyst estimates of $355.92 million. During the same quarter in the previous year, the business posted $0.88 EPS. The business’s quarterly revenue was up 26.9% on a year-over-year basis. As a group, equities research analysts anticipate that Guidewire Software will post 1.83 EPS for the current year.

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.