Guidewire Software (NYSE:GWRE) Stock Rated Hold in New Coverage at Jefferies Financial Group

Jefferies Financial Group assumed coverage on shares of Guidewire Software (NYSE:GWRE) in a research note issued to investors on Wednesday, Briefing.com reports. The firm set a “hold” rating and a $175.00 price target on the technology company’s stock. Jefferies Financial Group‘s target price indicates a potential upside of 12.34% from the company’s current price.

Several other equities research analysts also recently weighed in on the stock. Royal Bank Of Canada reissued an “outperform” rating and set a $215.00 price target on shares of Guidewire Software in a research report on Friday, September 4th. Guggenheim upped their target price 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. Robert W. Baird raised their price target on shares of Guidewire Software from $202.00 to $235.00 and gave the company an “outperform” rating in a report on Monday, August 31st. Piper Sandler reiterated an “overweight” rating and issued a $210.00 price target on shares of Guidewire Software in a research note on Friday, September 4th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Guidewire Software from $300.00 to $258.00 and set an “overweight” rating for the company in a report on Tuesday, July 14th. Twelve equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $213.29.

Guidewire Software Price Performance

Shares of NYSE:GWRE opened at $155.78 on Wednesday. Guidewire Software has a 1-year low of $102.30 and a 1-year high of $229.85. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.79 and a quick ratio of 1.79. The business has a fifty day moving average price of $162.35 and a 200-day moving average price of $149.30. The company has a market capitalization of $12.87 billion, a PE ratio of 95.57 and a beta of 1.01.

Guidewire Software (NYSE:GWRE) last announced its quarterly earnings results on Thursday, September 3rd. The technology company reported $0.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.93 by $0.06. The company had revenue of $411.09 million for the quarter, compared to analysts’ expectations of $402.61 million. Guidewire Software had a net margin of 9.44% and a return on equity of 12.66%. Guidewire Software’s revenue was up 15.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.84 EPS. As a group, equities analysts expect that Guidewire Software will post 2.45 EPS for the current fiscal year.

Insider Transactions at Guidewire Software

In other Guidewire Software news, CAO David Peterson sold 2,500 shares of Guidewire Software stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $200.00, for a total transaction of $500,000.00. Following the transaction, the chief accounting officer owned 9,787 shares of the company’s stock, valued at $1,957,400. The trade was a 20.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider James King sold 11,814 shares of Guidewire Software stock in a transaction on Thursday, September 17th. The shares were sold at an average price of $144.47, for a total transaction of $1,706,768.58. Following the transaction, the insider owned 45,939 shares in the company, valued at approximately $6,636,807.33. This trade represents a 20.46% 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. Over the last three months, insiders have sold 209,135 shares of company stock valued at $31,764,329. Company insiders own 0.50% of the company’s stock.

Hedge Funds Weigh In On Guidewire Software

A number of hedge funds have recently made changes to their positions in the business. Bamco Inc. NY bought a new position in Guidewire Software in the 2nd quarter worth approximately $1,106,768,000. Linonia Partnership LP bought a new stake in shares of Guidewire Software during the second quarter valued at approximately $853,165,000. Route One Investment Company L.P. purchased a new position in shares of Guidewire Software in the second quarter worth $227,564,000. Van ECK Associates Corp purchased a new position in shares of Guidewire Software in the second quarter worth $149,611,000. Finally, Principal Financial Group Inc. lifted its holdings in shares of Guidewire Software by 547.3% in the first quarter. Principal Financial Group Inc. now owns 1,180,334 shares of the technology company’s stock worth $176,537,000 after buying an additional 997,992 shares in the last quarter.

Guidewire Software Company Profile

Guidewire Software develops software for property and casualty insurance companies. Its products support core insurance operations, including policy administration, billing and claims management, as well as data analytics and digital customer services. The company offers its applications through Guidewire Cloud and provides related implementation and support services. Its platform includes products such as PolicyCenter, BillingCenter and ClaimCenter, designed to help insurers manage workflows and modernize their technology systems.