Guidewire Software (NYSE:GWRE) Price Target Raised to $200.00

by · The Markets Daily

Guidewire Software (NYSE:GWRE – Get Free Report) had its price objective raised by equities researchers at BTIG Research from $175.00 to $200.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has a “buy” rating on the technology company’s stock. BTIG Research’s target price indicates a potential upside of 23.75% from the stock’s previous close.

GWRE has been the topic of a number of other reports. Oppenheimer reduced their price target on shares of Guidewire Software from $300.00 to $250.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 24th. DA Davidson raised shares of Guidewire Software from a “neutral” rating to a “buy” rating and raised their target price for the stock from $246.00 to $250.00 in a report on Wednesday, December 17th. Wall Street Zen downgraded Guidewire Software from a “buy” rating to a “hold” rating in a research note on Friday, November 28th. Citigroup raised their price target on Guidewire Software from $242.00 to $245.00 and gave the stock a “neutral” rating in a report on Friday, December 5th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Guidewire Software in a research note on Thursday, January 22nd. Eleven equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $257.85.

View Our Latest Stock Analysis on GWRE

Guidewire Software Price Performance

Shares of GWRE opened at $161.62 on Friday. Guidewire Software has a 52 week low of $120.37 and a 52 week high of $272.60. The company has a current ratio of 3.48, a quick ratio of 3.48 and a debt-to-equity ratio of 0.44. The firm has a market cap of $13.74 billion, a price-to-earnings ratio of 153.93, a PEG ratio of 9.91 and a beta of 1.06. The stock has a 50 day moving average of $155.43 and a 200-day moving average of $201.24.

Guidewire Software (NYSE:GWRE – Get Free Report) last announced its quarterly earnings data on Thursday, March 5th. The technology company reported $1.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.40. The firm had revenue of $359.10 million for the quarter, compared to analysts’ expectations of $342.88 million. Guidewire Software had a return on equity of 10.15% and a net margin of 7.23%.The firm’s revenue for the quarter was up 24.0% on a year-over-year basis. During the same period last year, the business posted $0.51 earnings per share. As a group, analysts forecast that Guidewire Software will post 0.52 EPS for the current year.

Guidewire Software declared that its Board of Directors has initiated a stock buyback program on Thursday, January 8th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the technology company to repurchase up to 3.1% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its stock is undervalued.

Insiders Place Their Bets

In other news, insider James Winston King sold 1,860 shares of the firm’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 transaction, the insider directly owned 33,702 shares of the company’s stock, valued at approximately $6,571,890. This trade represents a 5.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President John P. Mullen sold 7,975 shares of the company’s stock in a transaction dated Tuesday, December 16th. The stock was sold at an average price of $192.08, for a total transaction of $1,531,838.00. Following the completion of the sale, the president directly owned 141,983 shares of the company’s stock, valued at $27,272,094.64. The trade was a 5.32% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 42,760 shares of company stock valued at $7,978,508. 0.46% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in GWRE. Capital World Investors acquired a new stake in shares of Guidewire Software during the fourth quarter worth $202,405,000. Qube Research & Technologies Ltd raised its holdings in Guidewire Software by 3,636.9% during the 2nd quarter. Qube Research & Technologies Ltd now owns 731,467 shares of the technology company’s stock worth $172,224,000 after buying an additional 711,893 shares during the period. Groupama Asset Managment lifted its stake in Guidewire Software by 240.0% during the second quarter. Groupama Asset Managment now owns 850,000 shares of the technology company’s stock valued at $200,132,000 after buying an additional 600,000 shares in the last quarter. Alliancebernstein L.P. boosted its holdings in shares of Guidewire Software by 405.1% in the second quarter. Alliancebernstein L.P. now owns 538,303 shares of the technology company’s stock worth $126,743,000 after buying an additional 431,725 shares during the period. Finally, Stockbridge Partners LLC increased its position in shares of Guidewire Software by 39.0% in the fourth quarter. Stockbridge Partners LLC now owns 1,445,206 shares of the technology company’s stock worth $290,501,000 after acquiring an additional 405,850 shares in the last quarter.

Guidewire Software News Roundup

Here are the key news stories impacting Guidewire Software this week:

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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