Oppenheimer Issues Pessimistic Forecast for Guidewire Software (NYSE:GWRE) Stock Price

Guidewire Software (NYSE:GWRE) had its price target lowered by equities research analysts at Oppenheimer from $300.00 to $250.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has an “outperform” rating on the technology company’s stock. Oppenheimer’s price target points to a potential upside of 83.88% from the stock’s previous close.

GWRE has been the topic of a number of other research reports. Citizens Jmp reiterated a “market outperform” rating and set a $281.00 price target on shares of Guidewire Software in a report on Wednesday, December 10th. Wells Fargo & Company lowered their price objective on Guidewire Software from $250.00 to $210.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 4th. BTIG Research cut their target price on Guidewire Software from $225.00 to $175.00 and set a “buy” rating on the stock in a research note on Wednesday, February 18th. Weiss Ratings restated a “hold (c)” rating on shares of Guidewire Software in a research note on Thursday, January 22nd. Finally, Zacks Research downgraded Guidewire Software from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 2nd. Eleven analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $255.92.

Guidewire Software Price Performance

Shares of NYSE:GWRE opened at $135.96 on Tuesday. Guidewire Software has a 1-year low of $120.37 and a 1-year high of $272.60. The company has a debt-to-equity ratio of 0.44, a current ratio of 3.48 and a quick ratio of 3.48. The business has a fifty day moving average price of $161.76 and a 200-day moving average price of $203.63. The company has a market capitalization of $11.56 billion, a PE ratio of 129.49, a PEG ratio of 8.26 and a beta of 1.06.

Guidewire Software (NYSE:GWRE) last announced its quarterly earnings results on Wednesday, December 3rd. The technology company reported $0.66 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.66. The company had revenue of $332.64 million for the quarter, compared to analysts’ expectations of $316.62 million. Guidewire Software had a net margin of 7.23% and a return on equity of 10.15%. Guidewire Software’s revenue was up 26.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.43 EPS. As a group, equities analysts expect that Guidewire Software will post 0.52 EPS for the current fiscal year.

Guidewire Software declared that its board has authorized a stock repurchase plan on Thursday, January 8th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the technology company to purchase up to 3.1% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling

In other Guidewire Software news, CEO Michael George Rosenbaum sold 1,200 shares of the firm’s stock in a transaction dated Monday, February 23rd. The stock was sold at an average price of $125.50, for a total value of $150,600.00. Following the transaction, the chief executive officer directly owned 229,543 shares of the company’s stock, valued at approximately $28,807,646.50. This trade represents a 0.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Jeffrey Elliott Cooper sold 216 shares of the business’s stock in a transaction dated Tuesday, January 13th. The shares were sold at an average price of $180.87, for a total value of $39,067.92. Following the sale, the chief financial officer owned 72,753 shares of the company’s stock, valued at approximately $13,158,835.11. This represents a 0.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 47,160 shares of company stock valued at $8,917,644 over the last 90 days. Company insiders own 0.46% of the company’s stock.

Hedge Funds Weigh In On Guidewire Software

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Advisors Asset Management Inc. purchased a new stake in Guidewire Software during the first quarter valued at approximately $25,000. Root Financial Partners LLC bought a new stake in shares of Guidewire Software during the 3rd quarter valued at $29,000. Measured Wealth Private Client Group LLC bought a new stake in shares of Guidewire Software during the 3rd quarter valued at $29,000. Newbridge Financial Services Group Inc. purchased a new stake in shares of Guidewire Software in the 2nd quarter worth $30,000. Finally, Westside Investment Management Inc. purchased a new stake in shares of Guidewire Software in the 2nd quarter worth $32,000.

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.