Guidewire Software (NYSE:GWRE) PT Raised to $170.00 at Royal Bank of Canada

Guidewire Software (NYSE:GWRE) had its target price lifted by research analysts at Royal Bank of Canada from $130.00 to $170.00 in a research report issued on Thursday, Benzinga reports. The firm currently has an “outperform” rating on the technology company’s stock. Royal Bank of Canada’s price target would indicate a potential upside of 23.32% from the stock’s current price.

Other research analysts have also recently issued reports about the stock. Stifel Nicolaus increased their price objective on shares of Guidewire Software from $130.00 to $140.00 and gave the company a “buy” rating in a report on Wednesday, June 5th. Robert W. Baird raised their target price on shares of Guidewire Software from $140.00 to $152.00 and gave the stock an “outperform” rating in a report on Thursday, June 6th. JPMorgan Chase & Co. raised their target price on shares of Guidewire Software from $133.00 to $145.00 and gave the stock an “overweight” rating in a report on Wednesday, June 5th. BTIG Research raised their target price on shares of Guidewire Software from $135.00 to $140.00 and gave the stock a “buy” rating in a report on Wednesday, June 5th. Finally, DA Davidson restated a “buy” rating and set a $126.00 target price on shares of Guidewire Software in a report on Tuesday, March 5th. One research analyst has rated the stock with a sell rating, two have given a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $133.08.

Guidewire Software Trading Up 0.5 %

NYSE GWRE opened at $137.85 on Thursday. The company has a 50-day moving average price of $122.99 and a two-hundred day moving average price of $116.24. The stock has a market cap of $11.39 billion, a price-to-earnings ratio of -1,060.30 and a beta of 1.14. Guidewire Software has a 52 week low of $74.03 and a 52 week high of $139.91.

Guidewire Software (NYSE:GWRE) last posted its quarterly earnings data on Tuesday, June 4th. The technology company reported ($0.09) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.23) by $0.14. The business had revenue of $240.68 million during the quarter, compared to analysts’ expectations of $231.46 million. Guidewire Software had a negative net margin of 1.11% and a negative return on equity of 1.19%. As a group, equities research analysts expect that Guidewire Software will post -0.34 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Guidewire Software news, CFO Jeffrey Elliott Cooper sold 1,765 shares of the stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $134.20, for a total value of $236,863.00. Following the completion of the sale, the chief financial officer now owns 61,714 shares in the company, valued at approximately $8,282,018.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CEO Michael George Rosenbaum sold 5,582 shares of the stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $134.54, for a total transaction of $751,002.28. Following the transaction, the chief executive officer now owns 239,793 shares in the company, valued at approximately $32,261,750.22. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Jeffrey Elliott Cooper sold 1,765 shares of the stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $134.20, for a total transaction of $236,863.00. Following the transaction, the chief financial officer now owns 61,714 shares in the company, valued at approximately $8,282,018.80. The disclosure for this sale can be found here. Insiders sold a total of 13,064 shares of company stock worth $1,710,361 in the last quarter. 0.38% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Vanguard Group Inc. increased its stake in shares of Guidewire Software by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 8,134,952 shares of the technology company’s stock worth $949,430,000 after purchasing an additional 67,439 shares during the last quarter. Wasatch Advisors LP grew its stake in Guidewire Software by 4.2% in the 1st quarter. Wasatch Advisors LP now owns 2,874,758 shares of the technology company’s stock valued at $335,513,000 after buying an additional 115,600 shares during the last quarter. Linonia Partnership LP acquired a new position in Guidewire Software in the 4th quarter valued at $189,965,000. Whale Rock Capital Management LLC grew its stake in Guidewire Software by 23.4% in the 1st quarter. Whale Rock Capital Management LLC now owns 1,270,870 shares of the technology company’s stock valued at $148,323,000 after buying an additional 240,622 shares during the last quarter. Finally, Blair William & Co. IL grew its stake in Guidewire Software by 5.4% in the 1st quarter. Blair William & Co. IL now owns 1,244,416 shares of the technology company’s stock valued at $145,236,000 after buying an additional 64,149 shares during the last quarter.

Guidewire Software Company Profile

Guidewire Software, Inc provides a platform for property and casualty (P&C) insurers worldwide. The company offers Guidewire InsuranceSuite Cloud, such as PolicyCenter Cloud, BillingCenter Cloud, and ClaimCenter Cloud applications. It also provides Guidewire InsuranceNow, a cloud-based platform that offers policy, billing, and claims management functionality to insurers; and Guidewire InsuranceSuite for Self-Managed.