DA Davidson Analysts Give Guidewire Software (GWRE) a $118.00 Price Target

DA Davidson set a $118.00 price target on Guidewire Software (NYSE:GWRE) in a research note released on Wednesday. The firm currently has a buy rating on the technology company’s stock.

A number of other analysts have also recently weighed in on GWRE. Zacks Investment Research reissued a hold rating on shares of Guidewire Software in a report on Tuesday, November 13th. ValuEngine raised shares of Guidewire Software from a buy rating to a strong-buy rating in a report on Saturday, December 1st. JPMorgan Chase & Co. raised their price objective on shares of Guidewire Software to $117.00 and gave the stock an overweight rating in a report on Friday, September 21st. Deutsche Bank cut shares of Guidewire Software from a buy rating to a hold rating and cut their price objective for the stock from $110.00 to $105.00 in a report on Monday, October 8th. Finally, Guggenheim assumed coverage on shares of Guidewire Software in a report on Tuesday, August 7th. They set a buy rating and a $115.00 price objective on the stock. Five research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of Buy and an average target price of $109.60.

Shares of Guidewire Software stock opened at $85.01 on Wednesday. Guidewire Software has a 52-week low of $72.04 and a 52-week high of $107.79. The company has a quick ratio of 5.43, a current ratio of 5.43 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $6.87 billion, a P/E ratio of 944.56, a PEG ratio of 34.74 and a beta of 1.29.

Guidewire Software (NYSE:GWRE) last released its quarterly earnings data on Tuesday, December 4th. The technology company reported $0.15 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.18. Guidewire Software had a negative net margin of 0.72% and a positive return on equity of 3.38%. The company had revenue of $179.70 million for the quarter, compared to analysts’ expectations of $162.24 million. During the same quarter last year, the company earned ($0.06) earnings per share. The firm’s revenue for the quarter was up 66.1% on a year-over-year basis. On average, equities research analysts anticipate that Guidewire Software will post 0.31 EPS for the current fiscal year.

In other news, insider Steven P. Sherry sold 5,446 shares of Guidewire Software stock in a transaction on Wednesday, September 19th. The shares were sold at an average price of $103.82, for a total value of $565,403.72. Following the transaction, the insider now directly owns 6,868 shares of the company’s stock, valued at approximately $713,035.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Marcus Ryu sold 20,822 shares of Guidewire Software stock in a transaction on Monday, October 1st. The shares were sold at an average price of $100.34, for a total transaction of $2,089,279.48. Following the completion of the transaction, the chief executive officer now directly owns 21,098 shares in the company, valued at $2,116,973.32. The disclosure for this sale can be found here. In the last three months, insiders have sold 88,359 shares of company stock worth $8,598,456. 0.69% of the stock is owned by corporate insiders.

Several institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of Guidewire Software by 3.2% in the 3rd quarter. Vanguard Group Inc. now owns 7,021,764 shares of the technology company’s stock valued at $709,268,000 after acquiring an additional 215,874 shares during the period. Bamco Inc. NY increased its holdings in shares of Guidewire Software by 0.6% in the 3rd quarter. Bamco Inc. NY now owns 6,528,904 shares of the technology company’s stock valued at $659,485,000 after acquiring an additional 40,699 shares during the period. Blair William & Co. IL increased its holdings in shares of Guidewire Software by 4.2% in the 3rd quarter. Blair William & Co. IL now owns 1,317,154 shares of the technology company’s stock valued at $133,046,000 after acquiring an additional 53,070 shares during the period. OppenheimerFunds Inc. increased its holdings in shares of Guidewire Software by 22.0% in the 2nd quarter. OppenheimerFunds Inc. now owns 900,134 shares of the technology company’s stock valued at $79,914,000 after acquiring an additional 162,319 shares during the period. Finally, Jennison Associates LLC increased its holdings in shares of Guidewire Software by 30.1% in the 2nd quarter. Jennison Associates LLC now owns 862,208 shares of the technology company’s stock valued at $76,547,000 after acquiring an additional 199,367 shares during the period.

Guidewire Software Company Profile

Guidewire Software, Inc provides software products for property and casualty insurers worldwide. The company offers Guidewire InsuranceSuite comprising Guidewire PolicyCenter, BillingCenter, and ClaimCenter applications. It also provides Guidewire InsuranceNow, a cloud-based platform, which offers policy, billing, and claims management functionality to insurers that prefer to subscribe to a cloud-based solution.

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Analyst Recommendations for Guidewire Software (NYSE:GWRE)

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