Guidewire Software (NYSE:GWRE) Price Target Cut to $175.00 by Analysts at BTIG Research

Guidewire Software (NYSE:GWRE) had its target price reduced by equities researchers at BTIG Research from $225.00 to $175.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the technology company’s stock. BTIG Research’s target price suggests a potential upside of 43.17% from the company’s current price.

A number of other analysts have also commented on GWRE. Wall Street Zen lowered Guidewire Software from a “buy” rating to a “hold” rating in a research note on Friday, November 28th. Zacks Research lowered shares of Guidewire Software from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 2nd. DA Davidson upgraded shares of Guidewire Software from a “neutral” rating to a “buy” rating and raised their target price for the stock from $246.00 to $250.00 in a research report on Wednesday, December 17th. Citigroup lifted their target price on shares of Guidewire Software from $242.00 to $245.00 and gave the stock a “neutral” rating in a research note on Friday, December 5th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Guidewire Software in a research note on Thursday, January 22nd. Eleven research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $259.77.

Guidewire Software Stock Down 3.8%

Shares of NYSE GWRE opened at $122.24 on Wednesday. The firm’s 50-day moving average is $170.17 and its two-hundred day moving average is $207.42. The company has a market capitalization of $10.39 billion, a PE ratio of 116.42, a price-to-earnings-growth ratio of 8.19 and a beta of 1.06. Guidewire Software has a 12-month low of $120.37 and a 12-month high of $272.60. The company has a debt-to-equity ratio of 0.44, a current ratio of 3.48 and a quick ratio of 3.48.

Guidewire Software (NYSE:GWRE) last issued its quarterly earnings data on Wednesday, December 3rd. The technology company reported $0.66 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.66. The business had revenue of $332.64 million during the quarter, compared to analysts’ expectations of $316.62 million. Guidewire Software had a net margin of 7.23% and a return on equity of 10.15%. The company’s revenue was up 26.5% on a year-over-year basis. During the same period last year, the company posted $0.43 EPS. Equities analysts anticipate that Guidewire Software will post 0.52 EPS for the current fiscal year.

Guidewire Software declared that its Board of Directors has authorized a stock repurchase program on Thursday, January 8th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the technology company to purchase up to 3.1% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s management believes its stock is undervalued.

Insider Transactions at Guidewire Software

In other news, insider James Winston King sold 1,860 shares of Guidewire Software stock in a transaction dated Thursday, December 18th. The stock was sold at an average price of $195.00, for a total value of $362,700.00. Following the transaction, the insider directly owned 33,702 shares of the company’s stock, valued at $6,571,890. The trade was a 5.23% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, President John P. Mullen sold 7,975 shares of the business’s stock in a transaction dated Tuesday, December 16th. The stock was sold at an average price of $192.08, for a total value of $1,531,838.00. Following the sale, the president owned 141,983 shares of the company’s stock, valued at $27,272,094.64. The trade was a 5.32% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 45,960 shares of company stock worth $8,767,044 over the last ninety days. 0.46% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Wealth Enhancement Advisory Services LLC lifted its position in shares of Guidewire Software by 57.0% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 51,694 shares of the technology company’s stock worth $11,735,000 after purchasing an additional 18,774 shares in the last quarter. Scalar Gauge Management LLC acquired a new position in Guidewire Software in the 3rd quarter worth $5,287,000. Allspring Global Investments Holdings LLC purchased a new position in Guidewire Software in the 3rd quarter valued at about $51,967,000. Y Intercept Hong Kong Ltd grew its stake in shares of Guidewire Software by 59.6% during the third quarter. Y Intercept Hong Kong Ltd now owns 27,763 shares of the technology company’s stock valued at $6,382,000 after acquiring an additional 10,364 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its position in shares of Guidewire Software by 12.8% during the third quarter. Assenagon Asset Management S.A. now owns 150,957 shares of the technology company’s stock worth $34,699,000 after acquiring an additional 17,151 shares during the last quarter.

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.