Guidewire Software (NYSE:GWRE – Get Free Report)‘s stock had its “buy” rating reaffirmed by stock analysts at BTIG Research in a report issued on Thursday,Benzinga reports. They presently have a $175.00 price target on the technology company’s stock. BTIG Research’s target price indicates a potential upside of 37.20% from the stock’s current price.
Other equities research analysts also recently issued research reports about the company. DA Davidson cut their price objective on Guidewire Software from $246.00 to $222.00 and set a “buy” rating for the company in a report on Monday, June 8th. Wells Fargo & Company lowered their target price on shares of Guidewire Software from $210.00 to $190.00 and set an “overweight” rating on the stock in a report on Friday, June 5th. Zacks Research lowered shares of Guidewire Software from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 25th. Citizens Jmp cut their price target on shares of 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. Finally, The Goldman Sachs Group decreased their price objective on shares of Guidewire Software from $255.00 to $225.00 and set a “buy” rating for the company in a research report on Friday, June 5th. Ten analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $221.36.
Read Our Latest Report on Guidewire Software
Guidewire Software Stock Performance
Guidewire Software (NYSE:GWRE – Get Free Report) last issued its quarterly earnings results on Thursday, June 4th. The technology company reported $0.82 EPS for the quarter, beating the consensus estimate 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 return on equity of 12.62% and a net margin of 11.25%.The business’s quarterly revenue was up 26.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.88 earnings per share. As a group, sell-side analysts expect that Guidewire Software will post 1.83 earnings per share for the current fiscal year.
Insider Buying and Selling
In related news, CFO Jeffrey Elliott Cooper sold 1,348 shares of the stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $105.67, for a total value of $142,443.16. Following the sale, the chief financial officer owned 62,119 shares in the company, valued at approximately $6,564,114.73. This represents a 2.12% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider James Winston King sold 999 shares of the firm’s stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $118.74, for a total value of $118,621.26. Following the sale, the insider directly owned 31,702 shares of the company’s stock, valued at $3,764,295.48. This represents a 3.05% decrease in their position. 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. Over the last 90 days, insiders sold 29,709 shares of company stock valued at $3,740,332. Insiders own 0.46% of the company’s stock.
Hedge Funds Weigh In On Guidewire Software
Institutional investors and hedge funds have recently modified their holdings of the stock. Measured Wealth Private Client Group LLC acquired a new stake in shares of Guidewire Software during the 3rd quarter worth about $29,000. Advisors Asset Management Inc. acquired a new position in Guidewire Software in the 1st quarter valued at about $25,000. Flagship Harbor Advisors LLC acquired a new position in Guidewire Software in the 4th quarter valued at about $36,000. Leonteq Securities AG bought a new position in Guidewire Software in the 1st quarter valued at about $36,000. Finally, Bogart Wealth LLC raised its holdings in Guidewire Software by 127.8% in the 1st quarter. Bogart Wealth LLC now owns 246 shares of the technology company’s stock valued at $37,000 after acquiring an additional 138 shares during the period.
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.
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