Guidewire Software (NYSE:GWRE – Get Free Report) had its price objective boosted by stock analysts at Guggenheim from $180.00 to $210.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a “buy” rating on the technology company’s stock. Guggenheim’s price target would indicate a potential upside of 4.34% from the stock’s current price.
Other research analysts have also issued research reports about the stock. Wells Fargo & Company reduced their price objective on shares of Guidewire Software from $210.00 to $190.00 and set an “overweight” rating for the company in a research note on Friday, June 5th. Piper Sandler started coverage on shares of Guidewire Software in a research note on Monday, August 10th. They issued an “overweight” rating and a $210.00 target price for the company. Royal Bank Of Canada cut their price target on shares of Guidewire Software from $250.00 to $215.00 and set an “outperform” rating on the stock in a report on Friday, June 5th. DA Davidson reduced their price target on Guidewire Software from $246.00 to $222.00 and set a “buy” rating on the stock in a research report on Monday, June 8th. Finally, JPMorgan Chase & Co. decreased their price objective on Guidewire Software from $300.00 to $258.00 and set an “overweight” rating for the company in a report on Tuesday, July 14th. Thirteen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, Guidewire Software presently has an average rating of “Moderate Buy” and an average price target of $223.79.
Check Out Our Latest Stock Analysis on GWRE
Guidewire Software Price Performance
Guidewire Software (NYSE:GWRE – Get Free Report) last released 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. Guidewire Software had a net margin of 11.25% and a return on equity of 12.62%. The business had revenue of $372.54 million during the quarter, compared to analyst estimates of $355.92 million. During the same period in the prior year, the firm posted $0.88 earnings per share. The company’s quarterly revenue was up 26.9% on a year-over-year basis. Research analysts anticipate that Guidewire Software will post 1.83 earnings per share for the current fiscal year.
Insider Activity at Guidewire Software
In related news, CEO Michael George Rosenbaum sold 5,830 shares of Guidewire Software stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $118.74, for a total value of $692,254.20. Following the completion of the sale, the chief executive officer directly owned 199,776 shares in the company, valued at $23,721,402.24. This trade represents a 2.84% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider James Winston King sold 1,684 shares of Guidewire Software stock in a transaction that occurred on Thursday, July 9th. The stock was sold at an average price of $130.64, for a total transaction of $219,997.76. Following the completion of the sale, the insider owned 30,018 shares of the company’s stock, valued at $3,921,551.52. This trade represents a 5.31% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 44,593 shares of company stock valued at $6,631,278. Company insiders own 0.46% of the company’s stock.
Hedge Funds Weigh In On Guidewire Software
Several hedge funds have recently made changes to their positions in the company. Measured Wealth Private Client Group LLC purchased a new position in Guidewire Software in the 3rd quarter worth $29,000. Advisors Asset Management Inc. purchased a new stake in Guidewire Software during the 1st quarter valued at about $25,000. Fiduciary Financial Advisors purchased a new stake in Guidewire Software during the 2nd quarter valued at about $29,000. Leonteq Securities AG purchased a new stake in Guidewire Software during the 1st quarter valued at about $36,000. Finally, Bogart Wealth LLC increased its holdings 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 valued at $37,000 after purchasing an additional 138 shares during the period.
About Guidewire Software
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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