BTIG Research Increases Guidewire Software (NYSE:GWRE) Price Target to $230.00

Guidewire Software (NYSE:GWRE) had its price target raised by research analysts at BTIG Research from $175.00 to $230.00 in a note issued to investors on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the technology company’s stock. BTIG Research’s price objective would suggest a potential upside of 14.98% from the company’s previous close.

Several other research firms have also recently weighed in on GWRE. Guggenheim increased their price target on shares of Guidewire Software from $180.00 to $210.00 and gave the company a “buy” rating in a research note on Thursday, August 27th. JPMorgan Chase & Co. cut their price target on shares of Guidewire Software from $300.00 to $258.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 14th. Zacks Research cut Guidewire Software from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 25th. Citizens Jmp reduced their target price on shares of Guidewire Software from $300.00 to $220.00 and set a “market outperform” rating on the stock in a report on Friday, June 5th. Finally, Oppenheimer raised their price objective on shares of Guidewire Software from $180.00 to $200.00 and gave the company an “outperform” rating in a report on Monday, August 17th. Thirteen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $223.93.

Guidewire Software Price Performance

Guidewire Software stock opened at $200.04 on Wednesday. The company’s fifty day moving average price is $156.74 and its 200 day moving average price is $145.25. Guidewire Software has a 1 year low of $102.30 and a 1 year high of $272.60. The stock has a market capitalization of $16.66 billion, a P/E ratio of 108.13 and a beta of 0.96. 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) last issued its quarterly earnings results on Thursday, June 4th. The technology company reported $0.82 EPS for the quarter, topping the consensus estimate of $0.74 by $0.08. The company had revenue of $372.54 million during the quarter, compared to analyst estimates of $355.92 million. Guidewire Software had a net margin of 11.25% and a return on equity of 12.62%. The firm’s 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 EPS. As a group, equities research analysts anticipate that Guidewire Software will post 1.83 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Guidewire Software news, insider James Winston King sold 1,684 shares of Guidewire Software stock in a transaction dated Thursday, July 9th. The shares were sold at an average price of $130.64, for a total transaction of $219,997.76. Following the completion of the transaction, the insider owned 30,018 shares in the company, valued at approximately $3,921,551.52. The trade was a 5.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Michael George Rosenbaum sold 5,830 shares of the company’s stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $118.74, for a total transaction of $692,254.20. Following the completion of the sale, the chief executive officer directly owned 199,776 shares in the company, valued at $23,721,402.24. This trade represents a 2.84% decrease in their position. The SEC filing for this sale provides additional information. 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. Insiders sold a total of 47,093 shares of company stock valued at $7,185,902 in the last quarter. Corporate insiders own 0.46% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of GWRE. Advisors Asset Management Inc. acquired a new stake in Guidewire Software during the 1st quarter valued at $25,000. Fiduciary Financial Advisors acquired a new position in shares of Guidewire Software in the second quarter worth $29,000. Measured Wealth Private Client Group LLC acquired a new position in shares of Guidewire Software in the third quarter worth $29,000. Silvant Capital Management LLC purchased a new stake in shares of Guidewire Software in the second quarter valued at $33,000. Finally, Leonteq Securities AG purchased a new stake in shares of Guidewire Software in the first quarter valued at $36,000.

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.