Guidewire Software (NYSE:GWRE) Receives “Hold” Rating from Needham & Company LLC

Needham & Company LLC reaffirmed their hold rating on shares of Guidewire Software (NYSE:GWRE) in a research report report published on Friday, Benzinga reports.

Several other equities research analysts have also recently weighed in on the stock. The Goldman Sachs Group raised their price objective on shares of Guidewire Software from $146.00 to $170.00 and gave the company a buy rating in a research report on Monday, July 22nd. Oppenheimer raised their price objective on shares of Guidewire Software from $185.00 to $200.00 and gave the company an outperform rating in a research report on Friday, October 4th. Citigroup raised their price objective on shares of Guidewire Software from $123.00 to $165.00 and gave the company a neutral rating in a research report on Monday, September 9th. Wells Fargo & Company raised their price objective on shares of Guidewire Software from $185.00 to $200.00 and gave the company an overweight rating in a research report on Thursday, October 3rd. Finally, DA Davidson restated a buy rating and issued a $168.00 price objective on shares of Guidewire Software in a research report on Friday, September 6th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $178.62.

Guidewire Software Stock Up 1.1 %

Shares of Guidewire Software stock opened at $187.88 on Friday. The stock has a market capitalization of $15.53 billion, a P/E ratio of -1,445.23 and a beta of 1.19. The company has a 50-day simple moving average of $162.83 and a 200 day simple moving average of $139.41. Guidewire Software has a 12-month low of $85.15 and a 12-month high of $188.47.

Guidewire Software (NYSE:GWRE) last announced its earnings results on Thursday, September 5th. The technology company reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.54 by $0.08. The business had revenue of $291.50 million during the quarter, compared to analysts’ expectations of $283.84 million. Guidewire Software had a negative net margin of 0.62% and a negative return on equity of 1.29%. The firm’s revenue for the quarter was up 8.0% on a year-over-year basis. During the same quarter last year, the company posted $0.30 EPS. On average, equities analysts anticipate that Guidewire Software will post 0.53 earnings per share for the current year.

Insider Buying and Selling

In related news, insider John P. Mullen sold 1,350 shares of Guidewire Software stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $149.03, for a total transaction of $201,190.50. Following the transaction, the insider now owns 137,821 shares of the company’s stock, valued at $20,539,463.63. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider John P. Mullen sold 1,350 shares of Guidewire Software stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $149.03, for a total transaction of $201,190.50. Following the transaction, the insider now owns 137,821 shares of the company’s stock, valued at $20,539,463.63. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael George Rosenbaum sold 23,379 shares of Guidewire Software stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $172.16, for a total transaction of $4,024,928.64. Following the transaction, the chief executive officer now directly owns 287,662 shares in the company, valued at $49,523,889.92. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 52,601 shares of company stock valued at $8,984,892 in the last 90 days. 0.38% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Creative Planning lifted its stake in Guidewire Software by 16.0% in the third quarter. Creative Planning now owns 15,331 shares of the technology company’s stock valued at $2,805,000 after buying an additional 2,120 shares in the last quarter. Sapient Capital LLC bought a new position in Guidewire Software in the third quarter valued at approximately $1,625,000. CHICAGO TRUST Co NA lifted its stake in Guidewire Software by 12.5% in the third quarter. CHICAGO TRUST Co NA now owns 3,200 shares of the technology company’s stock valued at $585,000 after buying an additional 355 shares in the last quarter. Westwind Capital bought a new position in Guidewire Software in the third quarter valued at approximately $13,765,000. Finally, Wedmont Private Capital lifted its stake in Guidewire Software by 43.9% in the third quarter. Wedmont Private Capital now owns 2,157 shares of the technology company’s stock valued at $393,000 after buying an additional 658 shares in 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.