Guidewire Software's (GWRE) "Buy" Rating Reaffirmed at BTIG Research

Key Points

• BTIG Research reaffirmed its “Buy” rating on Guidewire Software and maintained a $200 price target, implying about 16% upside from the prior close.
• Despite some recent mixed analyst moves, the broader consensus remains positive: 11 analysts rate GWRE a Buy, with an average rating of Moderate Buy and a consensus target of $244.46.
• Guidewire reported strong quarterly results, including EPS of $1.17 versus $0.77 expected and revenue of $359.1 million, with revenue up 24% year over year.

Guidewire Software (NYSE:GWRE - Get Free Report)'s stock had its "buy" rating restated by research analysts at BTIG Research in a note issued to investors on Tuesday,Benzinga reports. They currently have a $200.00 target price on the technology company's stock. BTIG Research's price target suggests a potential upside of 16.29% from the stock's previous close.

A number of other brokerages also recently weighed in on GWRE. Oppenheimer dropped their target price on Guidewire Software from $250.00 to $180.00 and set an "outperform" rating on the stock in a report on Monday, May 18th. Zacks Research downgraded shares of Guidewire Software from a "strong-buy" rating to a "hold" rating in a research note on Monday, May 25th. DA Davidson reaffirmed a "buy" rating and issued a $246.00 price target on shares of Guidewire Software in a research note on Tuesday, March 10th. Wells Fargo & Company dropped their price target on shares of Guidewire Software from $250.00 to $210.00 and set an "overweight" rating on the stock in a research note on Wednesday, February 4th. Finally, Royal Bank Of Canada dropped 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 note on Friday, March 6th. Eleven equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Guidewire Software has an average rating of "Moderate Buy" and a consensus price target of $244.46.

Guidewire Software Stock Up 12.6%

GWRE opened at $171.98 on Tuesday. The firm has a 50 day moving average price of $140.20 and a 200 day moving average price of $162.43. The company has a market cap of $14.56 billion, a PE ratio of 78.17 and a beta of 0.93. Guidewire Software has a 1 year low of $115.57 and a 1 year high of $272.60. The company has a debt-to-equity ratio of 0.45, a quick ratio of 2.93 and a current ratio of 2.93.

Guidewire Software (NYSE:GWRE - Get Free Report) last announced its quarterly earnings results on Thursday, March 5th. The technology company reported $1.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.40. The firm had revenue of $359.10 million during the quarter, compared to the consensus estimate of $342.88 million. Guidewire Software had a return on equity of 13.44% and a net margin of 14.11%.The firm's quarterly revenue was up 24.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.51 EPS. Sell-side analysts expect that Guidewire Software will post 1.84 earnings per share for the current year.

Insider Buying and Selling at Guidewire Software

In related news, CAO David Franklin Peterson sold 273 shares of Guidewire Software stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $163.86, for a total value of $44,733.78. Following the completion of the sale, the chief accounting officer directly owned 12,533 shares in the company, valued at $2,053,657.38. The trade was a 2.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Michael George Rosenbaum sold 1,200 shares of Guidewire Software stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $138.51, for a total value of $166,212.00. Following the completion of the transaction, the chief executive officer owned 209,206 shares in the company, valued at $28,977,123.06. This trade represents a 0.57% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 32,479 shares of company stock valued at $5,024,174. Corporate insiders own 0.46% of the company's stock.

Hedge Funds Weigh In On Guidewire Software

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Advisors Asset Management Inc. purchased a new stake in shares of Guidewire Software during the first quarter worth about $25,000. Amundi lifted its holdings in shares of Guidewire Software by 703.0% during the second quarter. Amundi now owns 36,093 shares of the technology company's stock worth $8,220,000 after purchasing an additional 31,598 shares during the period. Jump Financial LLC acquired a new stake in shares of Guidewire Software during the second quarter worth about $305,000. Bank of Nova Scotia lifted its holdings in shares of Guidewire Software by 30.9% during the second quarter. Bank of Nova Scotia now owns 2,024 shares of the technology company's stock worth $477,000 after purchasing an additional 478 shares during the period. Finally, NewEdge Advisors LLC lifted its holdings in shares of Guidewire Software by 30.6% during the second quarter. NewEdge Advisors LLC now owns 4,911 shares of the technology company's stock worth $1,156,000 after purchasing an additional 1,152 shares during the period.

Guidewire Software Company Profile

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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