Guidewire Software (NYSE:GWRE) Now Covered by Piper Sandler

Research analysts at Piper Sandler assumed coverage on shares of Guidewire Software (NYSE:GWRE) in a research report issued to clients and investors on Monday,Benzinga reports. The firm set an “overweight” rating and a $210.00 price target on the technology company’s stock. Piper Sandler’s price objective would indicate a potential upside of 22.78% from the stock’s previous close.

Several other equities analysts have also commented on GWRE. Citizens Jmp dropped their target price on Guidewire Software from $300.00 to $220.00 and set a “market outperform” rating on the stock in a report on Friday, June 5th. Guggenheim started coverage on Guidewire Software in a report on Thursday, July 23rd. They issued a “buy” rating and a $180.00 price objective on the stock. Oppenheimer decreased their target price on Guidewire Software from $250.00 to $180.00 and set an “outperform” rating for the company in a research note on Monday, May 18th. The Goldman Sachs Group dropped their price target on shares of Guidewire Software from $255.00 to $225.00 and set a “buy” rating on the stock in a research note on Friday, June 5th. Finally, Zacks Research cut shares of Guidewire Software from a “strong-buy” rating to a “hold” rating in a report on Monday, May 25th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Guidewire Software has a consensus rating of “Moderate Buy” and a consensus target price of $220.21.

Guidewire Software Stock Up 0.3%

GWRE stock opened at $171.04 on Monday. The company’s 50 day moving average price is $136.70 and its 200 day moving average price is $140.20. The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.44 and a current ratio of 2.44. Guidewire Software has a fifty-two week low of $102.30 and a fifty-two week high of $272.60. The firm has a market capitalization of $14.24 billion, a price-to-earnings ratio of 92.45 and a beta of 0.92.

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

Insider Activity at Guidewire Software

In other news, CEO Michael George Rosenbaum sold 1,200 shares of the company’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $155.92, for a total transaction of $187,104.00. Following the completion of the sale, the chief executive officer owned 191,376 shares in the company, valued at $29,839,345.92. This represents a 0.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Jeffrey Elliott Cooper sold 1,348 shares of Guidewire Software stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $105.67, for a total transaction of $142,443.16. Following the completion of the sale, the chief financial officer directly owned 62,119 shares in the company, valued at approximately $6,564,114.73. The trade was a 2.12% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 28,993 shares of company stock worth $3,651,078 in the last ninety days. Company insiders own 0.46% of the company’s stock.

Institutional Trading of Guidewire Software

Institutional investors and hedge funds have recently modified their holdings of the business. Advisors Asset Management Inc. purchased a new position in Guidewire Software during the first quarter worth $25,000. Measured Wealth Private Client Group LLC acquired a new position in shares of Guidewire Software in the third quarter valued at approximately $29,000. Flagship Harbor Advisors LLC purchased a new position in shares of Guidewire Software during the fourth quarter valued at approximately $36,000. Leonteq Securities AG acquired a new stake in Guidewire Software during the first quarter worth approximately $36,000. Finally, Bogart Wealth LLC boosted its position in Guidewire Software by 127.8% during the first quarter. Bogart Wealth LLC now owns 246 shares of the technology company’s stock worth $37,000 after acquiring an additional 138 shares during 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.