Guidewire Software, Inc. (NYSE:GWRE) Given Consensus Rating of "Moderate Buy" by Brokerages

Key Points

• Guidewire Software currently has a consensus analyst rating of “Moderate Buy” from 13 covering firms, with 10 buy ratings and 3 holds. The average 12-month price target is about $221.36.
• The company’s latest earnings beat expectations, reporting $0.82 EPS versus the $0.74 estimate and $372.54 million in revenue versus the $355.92 million forecast. Revenue also rose 26.9% year over year.
• Several insiders sold shares recently, including CAO David Franklin Peterson and insider James Winston King, with total insider sales over the last 90 days reaching 29,709 shares. The sales were made under pre-arranged plans and for tax withholding related to equity awards.

Shares of Guidewire Software, Inc. (NYSE:GWRE - Get Free Report) have earned an average rating of "Moderate Buy" from the thirteen research firms that are currently covering the firm, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $221.3636.

GWRE has been the subject of several recent research reports. Weiss Ratings reiterated a "hold (c)" rating on shares of Guidewire Software in a report on Wednesday, June 3rd. Royal Bank Of Canada lowered their price target on Guidewire Software from $250.00 to $215.00 and set an "outperform" rating for the company in a report on Friday, June 5th. Oppenheimer lowered their target price on Guidewire Software from $250.00 to $180.00 and set an "outperform" rating for the company in a research note on Monday, May 18th. Wells Fargo & Company lowered their target price on Guidewire Software from $210.00 to $190.00 and set an "overweight" rating for the company in a research note on Friday, June 5th. Finally, Zacks Research downgraded Guidewire Software from a "strong-buy" rating to a "hold" rating in a research note on Monday, May 25th.

Insider Activity at Guidewire Software

In other Guidewire Software news, CAO David Franklin Peterson sold 246 shares of the firm's stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $118.74, for a total value of $29,210.04. Following the transaction, the chief accounting officer owned 12,287 shares of the company's stock, valued at $1,458,958.38. This trade represents a 1.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider James Winston King sold 999 shares of the firm's stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $118.74, for a total transaction of $118,621.26. Following the completion of the transaction, the insider directly owned 31,702 shares in the company, valued at $3,764,295.48. This represents a 3.05% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders sold 29,709 shares of company stock valued at $3,740,332. 0.46% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Guidewire Software

Large investors have recently bought and sold shares of the business. Dynamic Technology Lab Private Ltd raised its holdings in shares of Guidewire Software by 901.1% during the third quarter. Dynamic Technology Lab Private Ltd now owns 9,110 shares of the technology company's stock valued at $2,094,000 after buying an additional 8,200 shares during the last quarter. Comerica Bank raised its holdings in shares of Guidewire Software by 52.0% during the fourth quarter. Comerica Bank now owns 78,659 shares of the technology company's stock valued at $15,811,000 after buying an additional 26,912 shares during the last quarter. BDF Gestion bought a new stake in shares of Guidewire Software during the fourth quarter valued at approximately $1,803,000. American Century Companies Inc. raised its holdings in shares of Guidewire Software by 3.4% during the third quarter. American Century Companies Inc. now owns 520,390 shares of the technology company's stock valued at $119,617,000 after buying an additional 17,104 shares during the last quarter. Finally, Fieldview Capital Management LLC bought a new stake in shares of Guidewire Software during the third quarter valued at approximately $2,862,000.

Guidewire Software Price Performance

Guidewire Software stock opened at $121.10 on Monday. Guidewire Software has a 1 year low of $102.30 and a 1 year high of $272.60. The firm has a 50 day moving average price of $132.62 and a 200 day moving average price of $150.25. The company has a market cap of $10.08 billion, a price-to-earnings ratio of 65.46 and a beta of 0.93. The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.44 and a current ratio of 2.44.

Guidewire Software (NYSE:GWRE - Get Free Report) last issued its earnings results on Thursday, June 4th. The technology company reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.08. The business had revenue of $372.54 million for 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 quarterly revenue was up 26.9% on a year-over-year basis. During the same period last year, the company posted $0.88 EPS. Sell-side analysts predict that Guidewire Software will post 1.83 earnings per share for the current year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.