Guidewire Software (NYSE:GWRE) Upgraded by Guggenheim to “Strong-Buy” Rating

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

Several other brokerages also recently weighed in on GWRE. The Goldman Sachs Group lowered their target price on shares of Guidewire Software from $255.00 to $225.00 and set a “buy” rating for the company in a research note on Friday, June 5th. Weiss Ratings reiterated a “hold (c)” rating on shares of Guidewire Software in a report on Wednesday, June 3rd. Wells Fargo & Company lowered their price objective on Guidewire Software from $210.00 to $190.00 and set an “overweight” rating for the company in a research report on Friday, June 5th. BTIG Research restated a “buy” rating and set a $175.00 target price on shares of Guidewire Software in a research note on Thursday, July 2nd. Finally, JPMorgan Chase & Co. reduced their target price on Guidewire Software from $300.00 to $258.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 14th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $221.00.

Get Our Latest Research Report on GWRE

Guidewire Software Stock Performance

GWRE stock opened at $131.33 on Wednesday. The firm has a market cap of $10.93 billion, a price-to-earnings ratio of 70.99 and a beta of 0.95. The firm has a 50-day simple moving average of $132.71 and a two-hundred day simple moving average of $141.71. Guidewire Software has a one year low of $102.30 and a one year high of $272.60. 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 (NYSE:GWREGet Free Report) last issued its quarterly earnings data 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. The firm had revenue of $372.54 million for the quarter, compared to the consensus estimate of $355.92 million. Guidewire Software had a net margin of 11.25% and a return on equity of 12.62%. The company’s quarterly revenue was up 26.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.88 EPS. On average, equities analysts forecast that Guidewire Software will post 1.83 EPS for the current fiscal year.

Insider Buying and Selling at Guidewire Software

In related news, President John P. Mullen sold 4,292 shares of the firm’s stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $118.74, for a total value of $509,632.08. Following the completion of the transaction, the president owned 131,115 shares in the company, valued at $15,568,595.10. This trade represents a 3.17% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Michael George Rosenbaum sold 1,200 shares of the firm’s stock in a transaction on Monday, July 13th. The stock was sold at an average price of $138.47, for a total value of $166,164.00. Following the completion of the transaction, the chief executive officer owned 194,976 shares of the company’s stock, valued at $26,998,326.72. This trade represents a 0.61% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 30,193 shares of company stock valued at $3,792,858. Company insiders own 0.46% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Measured Wealth Private Client Group LLC acquired a new stake in shares of Guidewire Software during the third quarter worth about $29,000. Advisors Asset Management Inc. acquired a new stake in Guidewire Software during the 1st quarter valued at approximately $25,000. Flagship Harbor Advisors LLC purchased a new stake in shares of Guidewire Software in the 4th quarter valued at $36,000. Leonteq Securities AG purchased a new stake in shares of Guidewire Software in the 1st quarter valued at $36,000. Finally, Bogart Wealth LLC increased its stake 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 worth $37,000 after acquiring an additional 138 shares during the period.

Guidewire Software Company Profile

(Get Free Report)

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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Analyst Recommendations for Guidewire Software (NYSE:GWRE)

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