Guidewire Software, Inc. (NYSE:GWRE) Receives Consensus Rating of "Moderate Buy" from Analysts

Key Points

• Analysts maintain a “Moderate Buy” consensus on Guidewire Software, with 12 buys, three holds and one strong buy among 16 analysts. The average 12-month price target is $221.64.
• Guidewire exceeded quarterly expectations, reporting EPS of $0.82 versus the $0.74 consensus and revenue of $372.54 million versus $355.92 million expected; revenue rose 26.9% year over year.
• Shares opened at $171.56 and were reported down 2.3%, while insiders sold 30,193 shares worth roughly $3.9 million over the past 90 days. Several institutional investors, including Bamco and Bank of America, established new positions.

Guidewire Software, Inc. (NYSE:GWRE - Get Free Report) has been given an average recommendation of "Moderate Buy" by the sixteen research firms that are covering the firm, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among brokers that have covered the stock in the last year is $221.6429.

A number of brokerages have recently issued reports on GWRE. Piper Sandler started coverage on Guidewire Software in a research report on Monday, August 10th. They set an "overweight" rating and a $210.00 price target on the stock. Weiss Ratings restated a "hold (c)" rating on shares of Guidewire Software in a research note on Wednesday, June 3rd. Wells Fargo & Company decreased their price target 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. BTIG Research reissued a "buy" rating and issued a $175.00 price target on shares of Guidewire Software in a report on Thursday, July 2nd. Finally, Zacks Research lowered Guidewire Software from a "strong-buy" rating to a "hold" rating in a research note on Monday, May 25th.

Guidewire Software Trading Down 2.3%

Shares of NYSE GWRE opened at $171.56 on Tuesday. Guidewire Software has a 1-year low of $102.30 and a 1-year high of $272.60. The business has a fifty day moving average price of $139.65 and a 200 day moving average price of $140.89. The stock has a market capitalization of $14.28 billion, a P/E ratio of 92.74 and a beta of 0.92. 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 (NYSE:GWRE - Get Free Report) last posted its earnings results on Thursday, June 4th. The technology company reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.08. The company 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 firm's quarterly revenue was up 26.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.88 earnings per share. Equities research analysts expect that Guidewire Software will post 1.83 EPS for the current fiscal year.

Insider Activity at Guidewire Software

In other Guidewire Software news, President John P. Mullen sold 4,292 shares of the company's stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $118.74, for a total transaction of $509,632.08. Following the transaction, the president owned 131,115 shares in the company, valued at approximately $15,568,595.10. This represents a 3.17% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 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 company's stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $105.67, for a total transaction of $142,443.16. Following the transaction, the chief financial officer owned 62,119 shares in the company, 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. Insiders have sold 30,193 shares of company stock valued at $3,908,106 over the last 90 days. Company insiders own 0.46% of the company's stock.

Institutional Investors Weigh In On Guidewire Software

Several institutional investors and hedge funds have recently made changes to their positions in GWRE. Equitable Holdings Inc. purchased a new stake in shares of Guidewire Software during the second quarter valued at $275,000. Public Employees Retirement System of Ohio acquired a new position in shares of Guidewire Software in the 2nd quarter valued at $2,995,000. Corient Private Wealth LP purchased a new position in Guidewire Software in the 2nd quarter worth $10,821,000. Bamco Inc. NY purchased a new position in Guidewire Software in the 2nd quarter worth $1,106,768,000. Finally, Bank of America Corp DE acquired a new stake in Guidewire Software during the 2nd quarter worth about $85,709,000.

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.

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source