Guidewire Software (NYSE:GWRE) Given New $175.00 Price Target at BTIG Research

Key Points

• BTIG Research lowered its price target on Guidewire Software to $175 from $200, while keeping a buy rating. The new target still implies about 58% upside from the stock’s current price.
• Other analysts have also trimmed their targets, but the stock still carries a Moderate Buy consensus with 10 Buy ratings and 3 Hold ratings. The average price target across analysts is $221.36.
• Guidewire recently reported better-than-expected quarterly results, with EPS of $0.82 versus the $0.74 estimate and revenue of $372.54 million, up 26.9% year over year. Despite that, shares were trading near $110.53, well below their 52-week high of $272.60.

Guidewire Software (NYSE:GWRE - Get Free Report) had its price target decreased by investment analysts at BTIG Research from $200.00 to $175.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has a "buy" rating on the technology company's stock. BTIG Research's price objective indicates a potential upside of 58.32% from the stock's current price.

A number of other research firms have also issued reports on GWRE. Wells Fargo & Company lowered their target price on Guidewire Software from $210.00 to $190.00 and set an "overweight" rating on the stock in a report on Friday, June 5th. Citizens Jmp cut their price target on shares of Guidewire Software from $300.00 to $220.00 and set a "market outperform" rating for the company in a report on Friday, June 5th. Oppenheimer reduced their price objective on shares of Guidewire Software from $250.00 to $180.00 and set an "outperform" rating for the company in a research report on Monday, May 18th. DA Davidson lowered their price objective on shares of Guidewire Software from $246.00 to $222.00 and set a "buy" rating on the stock in a research note on Monday, June 8th. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Guidewire Software in a report on Wednesday, June 3rd. Ten investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $221.36.

Guidewire Software Stock Performance

Shares of NYSE GWRE opened at $110.53 on Thursday. The stock has a fifty day moving average price of $133.24 and a two-hundred day moving average price of $151.51. The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.44 and a current ratio of 2.44. The firm has a market cap of $9.20 billion, a P/E ratio of 59.75 and a beta of 0.93. Guidewire Software has a 1 year low of $102.30 and a 1 year high of $272.60.

Guidewire Software (NYSE:GWRE - Get Free Report) last posted its quarterly earnings data on Thursday, June 4th. The technology company reported $0.82 EPS for the quarter, topping analysts' consensus estimates of $0.74 by $0.08. Guidewire Software had a return on equity of 12.62% and a net margin of 11.25%.The company had revenue of $372.54 million for the quarter, compared to the consensus estimate of $355.92 million. During the same quarter in the previous year, the business earned $0.88 EPS. The company's quarterly revenue was up 26.9% compared to the same quarter last year. Research analysts forecast that Guidewire Software will post 1.83 EPS for the current fiscal year.

Insider Activity at Guidewire Software

In related news, CAO David Franklin Peterson sold 246 shares of the stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $118.74, for a total value of $29,210.04. Following the completion of the transaction, the chief accounting officer owned 12,287 shares in the company, valued at $1,458,958.38. This trade represents a 1.96% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 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 Guidewire Software stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $118.74, for a total value 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. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 29,709 shares of company stock valued at $3,740,332 over the last ninety days. Company insiders own 0.46% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in GWRE. Pacer Advisors Inc. raised its holdings in shares of Guidewire Software by 3.5% during the first quarter. Pacer Advisors Inc. now owns 13,996 shares of the technology company's stock valued at $2,093,000 after acquiring an additional 468 shares during the period. Empowered Funds LLC boosted its stake in Guidewire Software by 239.1% in the 1st quarter. Empowered Funds LLC now owns 7,538 shares of the technology company's stock worth $1,127,000 after purchasing an additional 5,315 shares during the period. Parallel Advisors LLC grew its position in Guidewire Software by 44.7% during the 1st quarter. Parallel Advisors LLC now owns 4,561 shares of the technology company's stock worth $682,000 after purchasing an additional 1,409 shares in the last quarter. Glenmede Trust Co. NA raised its stake in Guidewire Software by 35.5% during the 1st quarter. Glenmede Trust Co. NA now owns 2,030 shares of the technology company's stock valued at $304,000 after purchasing an additional 532 shares during the period. Finally, Edgestream Partners L.P. purchased a new stake in shares of Guidewire Software in the first quarter valued at $637,000.

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.

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