Guidewire Software (NYSE:GWRE) Stock Rating Upgraded by Guggenheim

Guidewire Software (NYSE:GWRE) was upgraded by analysts at Guggenheim to a “strong-buy” rating in a research note issued to investors on Wednesday,Zacks.com reports.

Other research analysts have also issued reports about the company. Wells Fargo & Company dropped their price objective on Guidewire Software from $210.00 to $190.00 and set an “overweight” rating for the company in a research note on Friday, June 5th. Stifel Nicolaus reduced their target price on shares of Guidewire Software from $225.00 to $200.00 and set a “buy” rating on the stock in a research note on Friday, June 5th. Citizens Jmp lowered their target price on shares of Guidewire Software from $300.00 to $220.00 and set a “market outperform” rating on the stock in a report on Friday, June 5th. JPMorgan Chase & Co. dropped their target price on shares of Guidewire Software from $300.00 to $258.00 and set an “overweight” rating for the company in a research report on Tuesday, July 14th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Guidewire Software in a report on Wednesday, June 3rd. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, Guidewire Software has an average rating of “Moderate Buy” and an average target price of $221.00.

Guidewire Software Stock Performance

NYSE:GWRE opened at $131.33 on Wednesday. Guidewire Software has a 12-month low of $102.30 and a 12-month high of $272.60. The company has a quick ratio of 2.44, a current ratio of 2.44 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $10.93 billion, a PE ratio of 70.99 and a beta of 0.95. The firm has a 50-day moving average price of $132.71 and a 200 day moving average price of $141.71.

Guidewire Software (NYSE:GWRE) last announced 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. The firm had revenue of $372.54 million during the quarter, compared to analysts’ expectations of $355.92 million. Guidewire Software had a net margin of 11.25% and a return on equity of 12.62%. The company’s revenue for the quarter was up 26.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.88 earnings per share. Research analysts anticipate that Guidewire Software will post 1.83 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Jeffrey Elliott Cooper sold 2,594 shares of Guidewire Software stock in a transaction dated 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 of the company’s stock, valued at $7,536,071.58. The trade was a 3.93% decrease in their ownership of the stock. The transaction was disclosed in a filing 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 Guidewire Software stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $118.74, for a total value of $509,632.08. Following the completion of the transaction, the president directly owned 131,115 shares of the company’s stock, valued at $15,568,595.10. This represents a 3.17% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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 worth $3,792,858 in the last three months. Company insiders own 0.46% of the company’s stock.

Institutional Investors Weigh In On Guidewire Software

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Advisors Asset Management Inc. acquired a new position in shares of Guidewire Software during the first quarter worth approximately $25,000. Measured Wealth Private Client Group LLC bought a new stake in shares of Guidewire Software during the third quarter valued at approximately $29,000. Flagship Harbor Advisors LLC bought a new stake in shares of Guidewire Software during the fourth quarter valued at approximately $36,000. Leonteq Securities AG acquired a new stake in shares of Guidewire Software in the first quarter valued at approximately $36,000. Finally, Bogart Wealth LLC increased its holdings in shares of Guidewire Software by 127.8% in 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.