DA Davidson Has Lowered Expectations for Guidewire Software (NYSE:GWRE) Stock Price

Guidewire Software (NYSE:GWRE) had its price objective reduced by research analysts at DA Davidson from $246.00 to $222.00 in a report issued on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the technology company’s stock. DA Davidson’s price objective indicates a potential upside of 62.25% from the company’s current price.

A number of other research firms also recently weighed in on GWRE. Royal Bank Of Canada dropped their target price on Guidewire Software from $250.00 to $215.00 and set an “outperform” rating for the company in a research report on Friday. Weiss Ratings reiterated a “hold (c)” rating on shares of Guidewire Software in a research report on Wednesday. Zacks Research cut Guidewire Software from a “strong-buy” rating to a “hold” rating in a report on Monday, May 25th. Citizens Jmp cut 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 research report on Friday. Finally, The Goldman Sachs Group reduced their target price on shares of Guidewire Software from $255.00 to $225.00 and set a “buy” rating on the stock in a research note on Friday. Eleven research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Guidewire Software has an average rating of “Moderate Buy” and a consensus target price of $229.00.

Guidewire Software Stock Performance

Shares of Guidewire Software stock opened at $136.82 on Monday. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.44 and a quick ratio of 2.93. The firm has a 50 day simple moving average of $140.07 and a 200 day simple moving average of $160.52. Guidewire Software has a fifty-two week low of $115.57 and a fifty-two week high of $272.60. The firm has a market cap of $11.58 billion, a P/E ratio of 73.96 and a beta of 0.93.

Guidewire Software (NYSE:GWRE) last posted its quarterly earnings data on Thursday, June 4th. The technology company reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.08. The firm had revenue of $372.54 million for the quarter, compared to the consensus estimate of $355.92 million. Guidewire Software had a return on equity of 12.62% and a net margin of 11.25%.The business’s revenue for the quarter was up 26.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.88 EPS. Sell-side analysts predict that Guidewire Software will post 1.84 earnings per share for the current fiscal year.

Insider Transactions at Guidewire Software

In other Guidewire Software news, CFO Jeffrey Elliott Cooper sold 4,757 shares of the stock in a transaction dated Friday, March 13th. The stock was sold at an average price of $158.72, for a total value of $755,031.04. Following the transaction, the chief financial officer owned 67,996 shares of the company’s stock, valued at approximately $10,792,325.12. This represents a 6.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, President John P. Mullen sold 6,576 shares of the firm’s stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $163.86, for a total value of $1,077,543.36. Following the transaction, the president owned 135,407 shares in the company, valued at approximately $22,187,791.02. This trade represents a 4.63% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 32,479 shares of company stock worth $5,015,270 in the last three months. Insiders own 0.46% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Measured Wealth Private Client Group LLC bought a new stake in Guidewire Software in the third quarter valued at approximately $29,000. Advisors Asset Management Inc. acquired a new position in shares of Guidewire Software in the 1st quarter valued at $25,000. Flagship Harbor Advisors LLC acquired a new position in shares of Guidewire Software in the 4th quarter valued at $36,000. Leonteq Securities AG bought a new stake in shares of Guidewire Software in the 1st quarter valued at $36,000. Finally, Bogart Wealth LLC raised its stake in Guidewire Software by 127.8% during the 1st quarter. Bogart Wealth LLC now owns 246 shares of the technology company’s stock worth $37,000 after buying an additional 138 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.