Royal Bank of Canada Reiterates Outperform Rating for Guidewire Software (NYSE:GWRE)

Royal Bank of Canada reissued their outperform rating on shares of Guidewire Software (NYSE:GWRE) in a research report sent to investors on Tuesday,Benzinga reports. Royal Bank of Canada currently has a $215.00 price objective on the technology company’s stock.

Several other equities research analysts also recently issued reports on the stock. Needham & Company LLC restated a “hold” rating on shares of Guidewire Software in a research report on Friday, October 11th. BTIG Research raised their price objective on shares of Guidewire Software from $140.00 to $165.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. Stifel Nicolaus raised their price objective on shares of Guidewire Software from $200.00 to $220.00 and gave the stock a “buy” rating in a research report on Tuesday. Citigroup raised their price objective on shares of Guidewire Software from $123.00 to $165.00 and gave the stock a “neutral” rating in a research report on Monday, September 9th. Finally, JMP Securities raised their price objective on shares of Guidewire Software from $179.00 to $200.00 and gave the stock a “market outperform” rating in a research report on Friday, October 11th. 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 company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $183.69.

Guidewire Software Stock Performance

Shares of NYSE:GWRE opened at $202.77 on Tuesday. Guidewire Software has a 52-week low of $95.02 and a 52-week high of $202.99. The company has a market capitalization of $16.94 billion, a P/E ratio of -2,534.93, a price-to-earnings-growth ratio of 50.80 and a beta of 1.18. The company has a 50-day simple moving average of $185.74 and a 200 day simple moving average of $154.29.

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

Insider Activity at Guidewire Software

In related news, President John P. Mullen sold 1,350 shares of Guidewire Software stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $197.72, for a total value of $266,922.00. Following the transaction, the president now directly owns 189,261 shares of the company’s stock, valued at $37,420,684.92. This trade represents a 0.71 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Michael George Rosenbaum sold 23,379 shares of the business’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 sale, the chief executive officer now directly owns 287,662 shares in the company, valued at approximately $49,523,889.92. The trade was a 7.52 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 52,601 shares of company stock valued at $9,116,179 over the last three months. 0.48% of the stock is owned by insiders.

Institutional Trading of Guidewire Software

Hedge funds and other institutional investors have recently modified their holdings of the stock. Cetera Investment Advisers grew its stake in shares of Guidewire Software by 648.0% during the first quarter. Cetera Investment Advisers now owns 18,117 shares of the technology company’s stock worth $2,114,000 after buying an additional 15,695 shares during the last quarter. Acadian Asset Management LLC grew its stake in shares of Guidewire Software by 91.3% during the first quarter. Acadian Asset Management LLC now owns 7,144 shares of the technology company’s stock worth $833,000 after buying an additional 3,409 shares during the last quarter. Parkside Financial Bank & Trust grew its stake in shares of Guidewire Software by 8.0% during the second quarter. Parkside Financial Bank & Trust now owns 2,215 shares of the technology company’s stock worth $305,000 after buying an additional 165 shares during the last quarter. Xponance Inc. grew its stake in shares of Guidewire Software by 79.8% during the second quarter. Xponance Inc. now owns 6,908 shares of the technology company’s stock worth $953,000 after buying an additional 3,066 shares during the last quarter. Finally, Pallas Capital Advisors LLC grew its stake in shares of Guidewire Software by 219.5% during the third quarter. Pallas Capital Advisors LLC now owns 6,057 shares of the technology company’s stock worth $1,139,000 after buying an additional 4,161 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.