Guidewire Software (NYSE:GWRE) Price Target Raised to $215.00

Guidewire Software (NYSE:GWRE) had its price target boosted by Wells Fargo & Company from $205.00 to $215.00 in a research note published on Tuesday,Benzinga reports. The brokerage currently has an overweight rating on the technology company’s stock.

Several other research analysts have also recently commented on GWRE. JPMorgan Chase & Co. increased their price target on Guidewire Software from $170.00 to $210.00 and gave the company an “overweight” rating in a research report on Thursday, October 3rd. Needham & Company LLC reissued a “hold” rating on shares of Guidewire Software in a research report on Friday, October 11th. JMP Securities increased their price target on Guidewire Software from $179.00 to $200.00 and gave the company a “market outperform” rating in a research report on Friday, October 11th. Citigroup upped their price objective on Guidewire Software from $123.00 to $165.00 and gave the company a “neutral” rating in a research note on Monday, September 9th. Finally, Robert W. Baird upped their price objective on Guidewire Software from $204.00 to $220.00 and gave the company an “outperform” rating in a research note on Tuesday. 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 company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $183.69.

Guidewire Software Price Performance

GWRE stock opened at $202.77 on Tuesday. The stock has a market capitalization of $16.94 billion, a P/E ratio of -2,534.93, a P/E/G ratio of 50.80 and a beta of 1.18. The business has a 50-day moving average of $185.74 and a 200-day moving average of $154.29. Guidewire Software has a fifty-two week low of $95.02 and a fifty-two week high of $202.99.

Guidewire Software (NYSE:GWRE) last issued its quarterly earnings results on Thursday, September 5th. The technology company reported $0.62 EPS for the quarter, beating the consensus estimate of $0.54 by $0.08. Guidewire Software had a negative return on equity of 1.29% and a negative net margin of 0.62%. The firm had revenue of $291.50 million during the quarter, compared to analysts’ expectations of $283.84 million. During the same period in the prior year, the firm posted $0.30 earnings per share. The business’s quarterly revenue was up 8.0% compared to the same quarter last year. Equities analysts expect that Guidewire Software will post 0.53 EPS for the current year.

Insider Transactions at Guidewire Software

In other Guidewire Software news, CEO Michael George Rosenbaum sold 23,379 shares of the firm’s stock in a transaction 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 owns 287,662 shares in the company, valued at $49,523,889.92. This trade represents a 7.52 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John P. Mullen sold 6,718 shares of the firm’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $172.16, for a total value of $1,156,570.88. Following the transaction, the insider now owns 160,099 shares in the company, valued at approximately $27,562,643.84. This trade represents a 4.03 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 52,601 shares of company stock worth $9,116,179. Company insiders own 0.48% of the company’s stock.

Hedge Funds Weigh In On Guidewire Software

A number of hedge funds have recently added to or reduced their stakes in GWRE. Massachusetts Financial Services Co. MA increased its stake in Guidewire Software by 24.7% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,426,907 shares of the technology company’s stock worth $626,918,000 after acquiring an additional 679,558 shares during the period. International Assets Investment Management LLC boosted its holdings in shares of Guidewire Software by 18,001.5% in the 3rd quarter. International Assets Investment Management LLC now owns 258,128 shares of the technology company’s stock valued at $472,220,000 after purchasing an additional 256,702 shares in the last quarter. Whale Rock Capital Management LLC boosted its holdings in shares of 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 purchasing an additional 240,622 shares in the last quarter. Teca Partners LP acquired a new stake in shares of Guidewire Software in the 2nd quarter valued at $25,893,000. Finally, Linonia Partnership LP boosted its holdings in shares of Guidewire Software by 8.4% in the 2nd quarter. Linonia Partnership LP now owns 2,395,601 shares of the technology company’s stock valued at $330,329,000 after purchasing an additional 185,077 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.