Guidewire Software (NYSE:GWRE) Given Buy Rating at DA Davidson

Guidewire Software (NYSE:GWRE)‘s stock had its “buy” rating reissued by research analysts at DA Davidson in a report issued on Friday, Benzinga reports. They presently have a $168.00 price target on the technology company’s stock. DA Davidson’s price target would indicate a potential upside of 5.08% from the company’s previous close.

Several other brokerages also recently issued reports on GWRE. The Goldman Sachs Group increased their price objective on Guidewire Software from $146.00 to $170.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. Needham & Company LLC reissued a “hold” rating on shares of Guidewire Software in a research note on Friday. Stifel Nicolaus increased their price objective on Guidewire Software from $140.00 to $175.00 and gave the stock a “buy” rating in a report on Friday. BTIG Research lifted their price objective on Guidewire Software from $140.00 to $165.00 and gave the company a “buy” rating in a research report on Friday, August 30th. Finally, Citigroup upped their target price on Guidewire Software from $109.00 to $122.00 and gave the stock a “neutral” rating in a research report on Tuesday, June 4th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $158.38.

Guidewire Software Stock Performance

Shares of NYSE:GWRE traded up $15.95 during midday trading on Friday, reaching $159.88. The company had a trading volume of 1,765,291 shares, compared to its average volume of 647,022. Guidewire Software has a 1-year low of $83.91 and a 1-year high of $171.74. The firm has a market cap of $13.22 billion, a price-to-earnings ratio of -1,229.85 and a beta of 1.19. The company has a fifty day simple moving average of $144.17 and a two-hundred day simple moving average of $127.75.

Guidewire Software (NYSE:GWRE) last released its quarterly earnings results on Thursday, September 5th. The technology company reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.54 by $0.08. Guidewire Software had a negative return on equity of 1.19% and a negative net margin of 1.11%. The business had revenue of $291.50 million during the quarter, compared to analyst estimates of $283.84 million. During the same quarter last year, the company posted $0.30 EPS. Guidewire Software’s revenue for the quarter was up 8.0% on a year-over-year basis. Analysts expect that Guidewire Software will post -0.31 EPS for the current year.

Insider Buying and Selling

In related news, CEO Michael George Rosenbaum sold 5,582 shares of the firm’s stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $134.54, for a total value of $751,002.28. Following the transaction, the chief executive officer now directly owns 239,793 shares in the company, valued at approximately $32,261,750.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CFO Jeffrey Elliott Cooper sold 1,765 shares of the firm’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $134.20, for a total value of $236,863.00. Following the transaction, the chief financial officer now directly owns 61,714 shares in the company, valued at approximately $8,282,018.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Michael George Rosenbaum sold 5,582 shares of the firm’s stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $134.54, for a total transaction of $751,002.28. Following the completion of the transaction, the chief executive officer now owns 239,793 shares in the company, valued at $32,261,750.22. The disclosure for this sale can be found here. In the last three months, insiders sold 13,064 shares of company stock valued at $1,782,775. Company insiders own 0.38% of the company’s stock.

Institutional Trading of Guidewire Software

Hedge funds have recently bought and sold shares of the stock. Alberta Investment Management Corp boosted its holdings in Guidewire Software by 11.1% in the 4th quarter. Alberta Investment Management Corp now owns 33,678 shares of the technology company’s stock valued at $3,672,000 after purchasing an additional 3,355 shares during the period. Teca Partners LP boosted its holdings in Guidewire Software by 31.1% in the 4th quarter. Teca Partners LP now owns 195,599 shares of the technology company’s stock valued at $21,328,000 after purchasing an additional 46,453 shares during the period. Kapitalo Investimentos Ltda bought a new stake in Guidewire Software in the 4th quarter valued at $204,000. Wasatch Advisors LP boosted its holdings in Guidewire Software by 4.2% in the 1st quarter. Wasatch Advisors LP now owns 2,874,758 shares of the technology company’s stock valued at $335,513,000 after purchasing an additional 115,600 shares during the period. Finally, SG Americas Securities LLC bought a new stake in Guidewire Software in the 1st quarter valued at $417,000.

Guidewire Software Company Profile

Guidewire Software, Inc provides a platform for property and casualty (P&C) insurers worldwide. The company offers Guidewire InsuranceSuite Cloud, such as PolicyCenter Cloud, BillingCenter Cloud, and ClaimCenter Cloud applications. It also provides Guidewire InsuranceNow, a cloud-based platform that offers policy, billing, and claims management functionality to insurers; and Guidewire InsuranceSuite for Self-Managed.