Guidewire Software (NYSE:GWRE) Shares Gap Up Following Analyst Upgrade

Posted by Defense World Staff on Mar 8th, 2023

Guidewire Software, Inc. (NYSE:GWRE – Get Rating)’s share price gapped up before the market opened on Tuesday after StockNews.com upgraded the stock from a sell rating to a hold rating. The stock had previously closed at $71.52, but opened at $75.62. Guidewire Software shares last traded at $74.93, with a volume of 299,718 shares.

Several other brokerages have also recently commented on GWRE. BTIG Research reduced their price target on shares of Guidewire Software from $105.00 to $90.00 in a research report on Wednesday, December 7th. Robert W. Baird raised their price objective on shares of Guidewire Software from $75.00 to $80.00 in a research note on Tuesday. DA Davidson reduced their target price on shares of Guidewire Software from $96.00 to $90.00 in a report on Thursday, December 1st. Citigroup raised their target price on shares of Guidewire Software from $67.00 to $81.00 in a report on Tuesday. Finally, Stifel Nicolaus raised their price objective on shares of Guidewire Software from $60.00 to $72.00 in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Guidewire Software has an average rating of “Hold” and a consensus target price of $83.55.

Insiders Place Their Bets

In related news, insider James Winston King sold 1,577 shares of the business’s stock in a transaction that occurred on Monday, December 19th. The shares were sold at an average price of $61.40, for a total transaction of $96,827.80. Following the completion of the sale, the insider now directly owns 39,328 shares of the company’s stock, valued at $2,414,739.20. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, insider James Winston King sold 1,577 shares of the business’s stock in a transaction that occurred on Monday, December 19th. The shares were sold at an average price of $61.40, for a total transaction of $96,827.80. Following the completion of the sale, the insider now directly owns 39,328 shares of the company’s stock, valued at $2,414,739.20. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Priscilla Hung sold 9,547 shares of the business’s stock in a transaction that occurred on Wednesday, January 18th. The stock was sold at an average price of $70.00, for a total transaction of $668,290.00. Following the sale, the chief operating officer now directly owns 57,915 shares of the company’s stock, valued at $4,054,050. The disclosure for this sale can be found here. Over the last three months, insiders sold 22,255 shares of company stock valued at $1,450,282. Insiders own 0.17% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of GWRE. NuWave Investment Management LLC acquired a new position in shares of Guidewire Software in the third quarter valued at approximately $59,000. California Public Employees Retirement System boosted its holdings in shares of Guidewire Software by 94.3% in the second quarter. California Public Employees Retirement System now owns 324,999 shares of the technology company’s stock valued at $23,072,000 after buying an additional 157,775 shares during the period. DekaBank Deutsche Girozentrale boosted its holdings in shares of Guidewire Software by 11.4% in the third quarter. DekaBank Deutsche Girozentrale now owns 8,438 shares of the technology company’s stock valued at $525,000 after buying an additional 866 shares during the period. Wildcat Capital Management LLC boosted its holdings in shares of Guidewire Software by 6.3% in the third quarter. Wildcat Capital Management LLC now owns 77,842 shares of the technology company’s stock valued at $4,794,000 after buying an additional 4,637 shares during the period. Finally, TownSquare Capital LLC boosted its holdings in shares of Guidewire Software by 31.1% in the second quarter. TownSquare Capital LLC now owns 11,914 shares of the technology company’s stock valued at $846,000 after buying an additional 2,828 shares during the period.

Guidewire Software Price Performance

The company’s fifty day moving average price is $70.40 and its two-hundred day moving average price is $64.85. The company has a market cap of $6.15 billion, a price-to-earnings ratio of -31.58 and a beta of 1.25. The company has a quick ratio of 3.73, a current ratio of 3.73 and a debt-to-equity ratio of 0.33.

Guidewire Software (NYSE:GWRE – Get Rating) last announced its earnings results on Tuesday, December 6th. The technology company reported ($0.54) EPS for the quarter, topping the consensus estimate of ($0.67) by $0.13. Guidewire Software had a negative net margin of 23.57% and a negative return on equity of 10.64%. The business had revenue of $195.28 million during the quarter, compared to analysts’ expectations of $190.49 million. On average, equities research analysts forecast that Guidewire Software, Inc. will post -1.51 EPS for the current fiscal year.

About Guidewire Software

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Guidewire Software, Inc engages in the provision of technology platform, which comprises software, services, and a partner ecosystem, for the global Property and Casualty insurance industry. Its products include InsuranceSuite, PolicyCenter, ClaimCenter, BillingCenter, InsuranceNow, Analytics, Ecosystem, Guidewire for salesforce, and Guidewire Cloud.