Guidewire Software (NYSE:GWRE) Price Target Lowered to $210.00 at Wells Fargo & Company

Guidewire Software (NYSE:GWRE) had its target price trimmed by Wells Fargo & Company from $250.00 to $210.00 in a research report sent to investors on Wednesday morning,Benzinga reports. The brokerage currently has an overweight rating on the technology company’s stock.

A number of other brokerages also recently commented on GWRE. Citigroup upped 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. Citizens Jmp reissued a “market outperform” rating and issued a $281.00 price objective on shares of Guidewire Software in a research note on Wednesday, December 10th. Weiss Ratings restated a “hold (c)” rating on shares of Guidewire Software in a report on Thursday, January 22nd. Wall Street Zen downgraded Guidewire Software from a “buy” rating to a “hold” rating in a research report on Friday, November 28th. Finally, DA Davidson raised shares of Guidewire Software from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $246.00 to $250.00 in a research note on Wednesday, December 17th. Twelve equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $266.64.

Guidewire Software Price Performance

GWRE opened at $132.01 on Wednesday. The business has a fifty day moving average of $185.11 and a 200 day moving average of $213.65. The stock has a market cap of $11.22 billion, a P/E ratio of 125.73, a PEG ratio of 8.45 and a beta of 1.06. The company has a quick ratio of 3.48, a current ratio of 3.48 and a debt-to-equity ratio of 0.44. Guidewire Software has a 52-week low of $121.88 and a 52-week high of $272.60.

Guidewire Software (NYSE:GWRE) last released its earnings results on Wednesday, December 3rd. The technology company reported $0.66 earnings per share for the quarter, hitting the consensus estimate of $0.66. The business had revenue of $332.64 million during the quarter, compared to the consensus estimate of $316.62 million. Guidewire Software had a return on equity of 10.15% and a net margin of 7.23%.The business’s revenue for the quarter was up 26.5% compared to the same quarter last year. During the same period last year, the company earned $0.43 earnings per share. As a group, sell-side analysts anticipate that Guidewire Software will post 0.52 EPS for the current year.

Guidewire Software announced that its Board of Directors has authorized a share repurchase plan on Thursday, January 8th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the technology company to buy up to 3.1% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s board of directors believes its shares are undervalued.

Insider Activity

In other Guidewire Software news, CEO Michael George Rosenbaum sold 6,015 shares of the stock in a transaction dated Tuesday, December 16th. The shares were sold at an average price of $192.08, for a total transaction of $1,155,361.20. Following the completion of the sale, the chief executive officer directly owned 240,743 shares of the company’s stock, valued at approximately $46,241,915.44. This represents a 2.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider James Winston King sold 1,860 shares of Guidewire Software stock in a transaction that occurred on Thursday, December 18th. The stock was sold at an average price of $195.00, for a total transaction of $362,700.00. Following the completion of the transaction, the insider directly owned 33,702 shares in the company, valued at approximately $6,571,890. The trade was a 5.23% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 48,358 shares of company stock valued at $9,409,729. Company insiders own 0.46% of the company’s stock.

Institutional Trading of Guidewire Software

Hedge funds and other institutional investors have recently made changes to their positions in the business. IFP Advisors Inc boosted its stake in Guidewire Software by 4.6% during the 3rd quarter. IFP Advisors Inc now owns 1,104 shares of the technology company’s stock worth $254,000 after purchasing an additional 49 shares during the period. Earned Wealth Advisors LLC raised its holdings in shares of Guidewire Software by 5.4% in the third quarter. Earned Wealth Advisors LLC now owns 989 shares of the technology company’s stock valued at $227,000 after buying an additional 51 shares during the last quarter. Smartleaf Asset Management LLC boosted its stake in shares of Guidewire Software by 9.3% during the third quarter. Smartleaf Asset Management LLC now owns 624 shares of the technology company’s stock worth $145,000 after buying an additional 53 shares during the period. PDS Planning Inc boosted its stake in shares of Guidewire Software by 6.4% during the third quarter. PDS Planning Inc now owns 911 shares of the technology company’s stock worth $209,000 after buying an additional 55 shares during the period. Finally, American Trust grew its holdings in shares of Guidewire Software by 3.9% during the third quarter. American Trust now owns 1,632 shares of the technology company’s stock worth $375,000 after buying an additional 61 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.