Guidewire Software (NYSE:GWRE) Receives Buy Rating from DA Davidson

DA Davidson reaffirmed their buy rating on shares of Guidewire Software (NYSE:GWRE) in a research note issued to investors on Wednesday morning,Benzinga reports. The firm currently has a $210.00 price objective on the technology company’s stock.

Several other brokerages have also recently weighed in on GWRE. JPMorgan Chase & Co. upped their price target on shares of Guidewire Software from $170.00 to $210.00 and gave the stock an “overweight” rating in a research report on Thursday, October 3rd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $215.00 price target on shares of Guidewire Software in a research report on Tuesday, November 19th. Wells Fargo & Company upped their price target on shares of Guidewire Software from $205.00 to $215.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 19th. Needham & Company LLC reaffirmed a “hold” rating on shares of Guidewire Software in a research report on Friday, October 11th. Finally, Oppenheimer upped their price target on shares of Guidewire Software from $200.00 to $220.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 19th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, Guidewire Software has a consensus rating of “Moderate Buy” and an average price target of $193.00.

Guidewire Software Price Performance

Shares of GWRE stock opened at $177.57 on Wednesday. The company has a market capitalization of $14.83 billion, a P/E ratio of -2,219.35, a P/E/G ratio of 52.81 and a beta of 1.18. The company’s 50-day simple moving average is $191.58 and its two-hundred day simple moving average is $160.55. Guidewire Software has a one year low of $95.02 and a one year high of $209.15.

Guidewire Software (NYSE:GWRE) last issued its earnings results on Thursday, September 5th. The technology company reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $0.08. Guidewire Software had a negative net margin of 0.62% and a negative return on equity of 1.29%. The business had revenue of $291.50 million for the quarter, compared to the consensus estimate of $283.84 million. During the same period in the prior year, the firm earned $0.30 EPS. The company’s revenue for the quarter was up 8.0% compared to the same quarter last year. On average, research analysts expect that Guidewire Software will post 0.53 EPS for the current fiscal year.

Insiders Place Their Bets

In other Guidewire Software news, President John P. Mullen sold 1,350 shares of the firm’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $197.72, for a total value of $266,922.00. Following the completion of the transaction, the president now owns 189,261 shares of the company’s stock, valued at approximately $37,420,684.92. This trade represents a 0.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Michael George Rosenbaum sold 23,379 shares of the firm’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $172.16, for a total transaction of $4,024,928.64. Following the completion of the transaction, the chief executive officer now directly owns 287,662 shares of the company’s stock, valued at approximately $49,523,889.92. This represents a 7.52 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 52,601 shares of company stock valued at $9,116,179. Insiders own 0.48% of the company’s stock.

Institutional Trading of Guidewire Software

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Guidewire Software by 21.1% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 345 shares of the technology company’s stock worth $63,000 after acquiring an additional 60 shares during the period. Allspring Global Investments Holdings LLC increased its stake in shares of Guidewire Software by 4.0% in the second quarter. Allspring Global Investments Holdings LLC now owns 2,050 shares of the technology company’s stock worth $283,000 after acquiring an additional 79 shares during the period. CIBC Asset Management Inc increased its stake in shares of Guidewire Software by 3.7% in the third quarter. CIBC Asset Management Inc now owns 2,451 shares of the technology company’s stock worth $448,000 after acquiring an additional 87 shares during the period. Vanguard Personalized Indexing Management LLC increased its stake in shares of Guidewire Software by 1.3% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 9,078 shares of the technology company’s stock worth $1,252,000 after acquiring an additional 116 shares during the period. Finally, CHICAGO TRUST Co NA boosted its position in Guidewire Software by 4.8% in the 2nd quarter. CHICAGO TRUST Co NA now owns 2,845 shares of the technology company’s stock worth $392,000 after purchasing an additional 130 shares in the last quarter.

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.