Guidewire Software’s (GWRE) Buy Rating Reaffirmed at DA Davidson

DA Davidson reiterated their buy rating on shares of Guidewire Software (NYSE:GWRE) in a research note published on Friday morning, Benzinga reports. The brokerage currently has a $168.00 price target on the technology company’s stock.

GWRE has been the subject of several other reports. Oppenheimer boosted their target price on shares of Guidewire Software from $170.00 to $185.00 and gave the stock an outperform rating in a research report on Friday. The Goldman Sachs Group increased their price objective on Guidewire Software from $146.00 to $170.00 and gave the stock a buy rating in a research note on Monday, July 22nd. Citigroup lifted their target price on Guidewire Software from $109.00 to $122.00 and gave the company a neutral rating in a research report on Tuesday, June 4th. Needham & Company LLC reissued a hold rating on shares of Guidewire Software in a research report on Friday. Finally, JPMorgan Chase & Co. raised their price objective on Guidewire Software from $133.00 to $145.00 and gave the company an overweight rating in a research note on Wednesday, June 5th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average price target of $158.38.

Guidewire Software Stock Up 12.4 %

GWRE stock opened at $161.71 on Friday. The firm has a market cap of $13.37 billion, a price-to-earnings ratio of -1,243.92 and a beta of 1.19. The company’s fifty day simple moving average is $144.64 and its 200 day simple moving average is $128.04. Guidewire Software has a 12-month low of $83.91 and a 12-month high of $171.74.

Guidewire Software (NYSE:GWRE) last posted its quarterly earnings results on Thursday, September 5th. The technology company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.08. Guidewire Software had a negative net margin of 1.11% and a negative return on equity of 1.19%. The business had revenue of $291.50 million during the quarter, compared to the consensus estimate of $283.84 million. During the same quarter last year, the firm posted $0.30 EPS. Guidewire Software’s revenue was up 8.0% compared to the same quarter last year. Research analysts expect that Guidewire Software will post -0.31 earnings per share for the current year.

Insider Activity

In related news, CEO Michael George Rosenbaum sold 5,582 shares of Guidewire Software stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of $134.54, for a total value of $751,002.28. Following the completion of the transaction, the chief executive officer now directly owns 239,793 shares in the company, valued at approximately $32,261,750.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Michael George Rosenbaum sold 5,582 shares of the company’s stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of $134.54, for a total transaction of $751,002.28. Following the sale, the chief executive officer now directly owns 239,793 shares in the company, valued at $32,261,750.22. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Jeffrey Elliott Cooper sold 1,765 shares of the stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $134.20, for a total transaction of $236,863.00. Following the completion of the sale, the chief financial officer now owns 61,714 shares in the company, valued at $8,282,018.80. The disclosure for this sale can be found here. Insiders have sold a total of 13,064 shares of company stock valued at $1,782,775 over the last quarter. Company insiders own 0.38% of the company’s stock.

Hedge Funds Weigh In On Guidewire Software

Institutional investors have recently added to or reduced their stakes in the business. Transcendent Capital Group LLC purchased a new position in shares of Guidewire Software during the fourth quarter worth about $27,000. ORG Partners LLC bought a new stake in Guidewire Software during the first quarter worth about $29,000. Rothschild Investment LLC purchased a new position in shares of Guidewire Software in the 2nd quarter worth about $31,000. Lynx Investment Advisory purchased a new position in shares of Guidewire Software during the second quarter worth approximately $41,000. Finally, DT Investment Partners LLC purchased a new stake in Guidewire Software during the second quarter valued at about $41,000.

About Guidewire Software

Guidewire Software, Inc provides a platform for property and casualty (P&C) insurers worldwide. The company offers Guidewire InsuranceSuite Cloud, such as PolicyCenter Cloud, BillingCenter Cloud, and ClaimCenter Cloud applications. It also provides Guidewire InsuranceNow, a cloud-based platform that offers policy, billing, and claims management functionality to insurers; and Guidewire InsuranceSuite for Self-Managed.