Guidewire Software (NYSE:GWRE) Earns “Buy” Rating from BTIG Research

Guidewire Software (NYSE:GWRE)‘s stock had its “buy” rating restated by equities researchers at BTIG Research in a research report issued to clients and investors on Tuesday,Benzinga reports. They currently have a $250.00 target price on the technology company’s stock. BTIG Research’s price target would suggest a potential upside of 53.74% from the stock’s current price.

A number of other equities analysts have also recently weighed in on the company. Zacks Research cut Guidewire Software from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 2nd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Guidewire Software in a research report on Thursday, January 22nd. Citigroup lifted their price target on shares of Guidewire Software from $242.00 to $245.00 and gave the company a “neutral” rating in a research report on Friday, December 5th. Wells Fargo & Company reduced their price target on shares of Guidewire Software from $275.00 to $250.00 and set an “overweight” rating on the stock in a research note on Thursday, January 8th. Finally, Citizens Jmp reaffirmed a “market outperform” rating and set a $281.00 price objective on shares of Guidewire Software in a research report on Wednesday, December 10th. Twelve equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Guidewire Software presently has a consensus rating of “Moderate Buy” and an average price target of $269.50.

Guidewire Software Price Performance

Shares of GWRE stock opened at $162.62 on Tuesday. 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 company has a market capitalization of $13.83 billion, a PE ratio of 154.87, a price-to-earnings-growth ratio of 10.44 and a beta of 1.08. The firm’s 50-day moving average is $192.62 and its two-hundred day moving average is $216.58. Guidewire Software has a 12 month low of $154.51 and a 12 month high of $272.60.

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. Guidewire Software had a net margin of 7.23% and a return on equity of 10.15%. The business had revenue of $332.64 million during the quarter, compared to the consensus estimate of $316.62 million. During the same quarter last year, the firm earned $0.43 EPS. The business’s revenue was up 26.5% compared to the same quarter last year. Analysts predict that Guidewire Software will post 0.52 earnings per share for the current year.

Guidewire Software announced that its Board of Directors has authorized a stock repurchase program on Thursday, January 8th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the technology company to purchase up to 3.1% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling at Guidewire Software

In related news, insider James Winston King sold 1,860 shares of the business’s stock in a transaction on Thursday, December 18th. The stock was sold at an average price of $195.00, for a total transaction of $362,700.00. Following the completion of the transaction, the insider directly owned 33,702 shares of the company’s stock, valued at $6,571,890. The trade was a 5.23% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Michael George Rosenbaum sold 6,015 shares of the stock in a transaction dated Tuesday, December 16th. The shares were sold at an average price of $192.08, for a total value of $1,155,361.20. Following the completion of the sale, the chief executive officer directly owned 240,743 shares in the company, valued at $46,241,915.44. This represents a 2.44% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 51,558 shares of company stock worth $10,261,857. 0.46% of the stock is currently owned by corporate insiders.

Institutional Trading of Guidewire Software

A number of large investors 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 third quarter worth approximately $29,000. Root Financial Partners LLC purchased a new stake in shares of Guidewire Software during the 3rd quarter worth $29,000. Newbridge Financial Services Group Inc. acquired a new position in shares of Guidewire Software during the second quarter worth $30,000. Advisors Asset Management Inc. acquired a new position in shares of Guidewire Software during the first quarter worth $25,000. Finally, Westside Investment Management Inc. purchased a new position in Guidewire Software in the second quarter valued at $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.