Guidewire GWRE has entered into an accelerated share repurchase (ASR) agreement with Morgan Stanley & Co. LLC to buy back an aggregate of $200 million worth of its common stock.The total number of shares Guidewire will eventually repurchase under the ASR agreement will be determined using its daily volume-weighted average share price during the agreement's duration, less a discount.Per the ASR agreement, Guidewire is expected to receive an initial delivery of approximately 2,581,478 shares. The remaining shares are expected to be settled in the third quarter of fiscal 2023.Guidewire Software, Inc. Price and Consensus Guidewire Software, Inc. price-consensus-chart | Guidewire Software, Inc. QuoteThis announcement aligns with the company’s previous $400 million share repurchase authorization.Guidewire has a strong balance sheet, which enables it to reward shareholders with risk-adjusted returns in the form of share repurchases and invest enough capital in research and development to launch new products and improve existing product lines.As of Jul 31, 2022, cash and cash equivalents and short-term investments came in at $1.2 billion.San Mateo, CA-based Guidewire is a provider of software solutions for property and casualty insurers. It is slowly shifting from the term license-based model to a subscription base. This will benefit the company in the long run as most enterprises are expected to lean toward cloud-based infrastructure going forward.Further, the company's focus on enhancing the Guidewire Cloud platform with new capabilities, including digital frameworks, automation, tooling and other cloud services, is expected to boost sales of subscription-based solutions in the long haul. Guidewire Cloud continued to gain momentum with 8 cloud deals in the last reported quarter.The company’s acquisition has also helped to cross-sell the product suites, increasing the customer base and revenue generation.Presently, Guidewire carries a Zacks Rank #3 (Hold). In the past year, shares of the company have lost 47.9% compared with the industry’s decline of 33.2%.Image Source: Zacks Investment ResearchStocks to ConsiderSome better-ranked stocks from the broader technology space are Synopsys SNPS, Pure Storage PSTG and Arista Networks ANET. Arista Networks and Pure Storage currently sport a Zacks Rank #1 (Strong Buy), whereas Synopsys presently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.The Zacks Consensus Estimate for Synopsys 2022 earnings is pegged at $8.84 per share, up 4.4% in the past 60 days. The long-term earnings growth rate is anticipated to be 16.2%.Synopsys earnings beat the Zacks Consensus Estimate in the last four quarters, the average being 3%. Shares of SNPS have jumped 3.5% in the past year.The Zacks Consensus Estimate for PSTG 2022 earnings is pegged at $1.18 per share, rising 24.2% in the past 60 days. The long-term earnings growth rate is anticipated to be 35.5%.Pure Storage’s earnings beat the Zacks Consensus Estimate in the last four quarters, the average being 171.8%. Shares of PSTG have jumped 9.4% in the past year.The Zacks Consensus Estimate for Arista Network’s 2022 earnings is pegged at $4.04 per share, increasing 10.1% in the past 60 days. The long-term earnings growth rate is anticipated to be 18.6%.Arista Network’s earnings beat the Zacks Consensus Estimate in the last four quarters, the average being 10.1%. Shares of ANET have surged 34.9% in the past year FREE Report: The Metaverse is Exploding! Don’t You Want to Cash In? Rising gas prices. The war in Ukraine. America's recession. Inflation. It's no wonder why the metaverse is so popular and growing every day. Becoming Spider Man and fighting Darth Vader is infinitely more appealing than spending over $5 per gallon at the pump. And that appeal is why the metaverse can provide such massive gains for investors. But do you know where to look? Do you know which metaverse stocks to buy and which to avoid? In a new FREE report from Zacks' leading stock specialist, we reveal how you could profit from the internet’s next evolution. Even though the popularity of the metaverse is spreading like wildfire, investors like you can still get in on the ground floor and cash in. Don't miss your chance to get your piece of this innovative $30 trillion opportunity - FREE.>>Yes, I want to know the top metaverse stocks for 2022>>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Synopsys, Inc. (SNPS): Free Stock Analysis Report Guidewire Software, Inc. (GWRE): Free Stock Analysis Report Arista Networks, Inc. (ANET): Free Stock Analysis Report Pure Storage, Inc. (PSTG): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research