Guggenheim Begins Coverage on Guidewire Software (NYSE:GWRE)

Equities research analysts at Guggenheim assumed coverage on shares of Guidewire Software (NYSE:GWRE) in a research note issued on Thursday, MarketBeat reports. The firm set a “buy” rating and a $180.00 price target on the technology company’s stock. Guggenheim’s price target indicates a potential upside of 30.11% from the stock’s current price.

Other research analysts also recently issued research reports about the company. The Goldman Sachs Group cut their target price on Guidewire Software from $255.00 to $225.00 and set a “buy” rating for the company in a research note on Friday, June 5th. Zacks Research downgraded shares of Guidewire Software from a “strong-buy” rating to a “hold” rating in a report on Monday, May 25th. JPMorgan Chase & Co. cut their price objective on shares of Guidewire Software from $300.00 to $258.00 and set an “overweight” rating for the company in a research report on Tuesday, July 14th. BTIG Research reaffirmed a “buy” rating and set a $175.00 price objective on shares of Guidewire Software in a research note on Thursday, July 2nd. Finally, Citizens Jmp decreased their target price on shares of Guidewire Software from $300.00 to $220.00 and set a “market outperform” rating on the stock in a report on Friday, June 5th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Guidewire Software has a consensus rating of “Moderate Buy” and an average price target of $221.00.

Guidewire Software Trading Up 5.3%

Shares of GWRE stock opened at $138.34 on Thursday. The company’s fifty day simple moving average is $132.87 and its two-hundred day simple moving average is $141.68. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.44 and a quick ratio of 2.44. Guidewire Software has a 1 year low of $102.30 and a 1 year high of $272.60. The stock has a market capitalization of $11.52 billion, a price-to-earnings ratio of 74.78 and a beta of 0.95.

Guidewire Software (NYSE:GWRE) last posted its quarterly earnings results on Thursday, June 4th. The technology company reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.08. The firm had revenue of $372.54 million during the quarter, compared to analyst estimates of $355.92 million. Guidewire Software had a return on equity of 12.62% and a net margin of 11.25%.The business’s revenue for the quarter was up 26.9% on a year-over-year basis. During the same period last year, the company earned $0.88 earnings per share. As a group, analysts anticipate that Guidewire Software will post 1.83 earnings per share for the current year.

Insider Transactions at Guidewire Software

In other news, President John P. Mullen sold 4,292 shares of Guidewire Software stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $118.74, for a total transaction of $509,632.08. Following the completion of the sale, the president owned 131,115 shares in the company, valued at approximately $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 can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Jeffrey Elliott Cooper sold 1,348 shares of the business’s stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $105.67, for a total value of $142,443.16. Following the transaction, the chief financial officer directly owned 62,119 shares of the company’s stock, valued at $6,564,114.73. The trade was a 2.12% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 30,193 shares of company stock worth $3,792,858. 0.46% of the stock is owned by insiders.

Hedge Funds Weigh In On Guidewire Software

A number of hedge funds and other institutional investors have recently bought and sold shares of GWRE. Advisors Asset Management Inc. purchased a new stake in shares of Guidewire Software during the 1st quarter valued at $25,000. Measured Wealth Private Client Group LLC purchased a new position in Guidewire Software in the third quarter worth $29,000. Flagship Harbor Advisors LLC bought a new position in Guidewire Software in the fourth quarter valued at $36,000. Leonteq Securities AG bought a new position in Guidewire Software in the first quarter valued at $36,000. Finally, Bogart Wealth LLC raised its position in Guidewire Software by 127.8% during 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 in the last quarter.

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.