Guidewire Software (NYSE:GWRE) Price Target Raised to $220.00 at Stifel Nicolaus

Guidewire Software (NYSE:GWRE) had its price target lifted by Stifel Nicolaus from $200.00 to $220.00 in a research note released on Tuesday,Benzinga reports. Stifel Nicolaus currently has a buy rating on the technology company’s stock.

A number of other research firms have also recently issued reports on GWRE. Needham & Company LLC reissued a “hold” rating on shares of Guidewire Software in a research report on Friday, October 11th. JPMorgan Chase & Co. lifted their price objective on Guidewire Software from $170.00 to $210.00 and gave the company an “overweight” rating in a research report on Thursday, October 3rd. Royal Bank of Canada lifted their price objective on Guidewire Software from $180.00 to $215.00 and gave the company an “outperform” rating in a research report on Friday, October 11th. DA Davidson reissued a “buy” rating and set a $168.00 price objective on shares of Guidewire Software in a research report on Friday, September 6th. Finally, JMP Securities lifted their price objective 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. One research analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, Guidewire Software has an average rating of “Moderate Buy” and an average target price of $183.69.

Guidewire Software Stock Performance

Shares of GWRE stock opened at $202.77 on Tuesday. Guidewire Software has a 1 year low of $95.02 and a 1 year high of $202.99. The stock has a market cap of $16.94 billion, a PE ratio of -2,534.93, a price-to-earnings-growth ratio of 50.80 and a beta of 1.18. The business’s fifty day moving average is $185.74 and its 200-day moving average is $154.29.

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

Insider Activity at Guidewire Software

In other Guidewire Software news, CEO Michael George Rosenbaum sold 23,379 shares of the stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $172.16, for a total value of $4,024,928.64. Following the transaction, the chief executive officer now directly owns 287,662 shares of the company’s stock, valued at $49,523,889.92. This represents a 7.52 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John P. Mullen sold 6,718 shares of the stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $172.16, for a total transaction of $1,156,570.88. Following the completion of the transaction, the insider now directly owns 160,099 shares in the company, valued at approximately $27,562,643.84. This represents a 4.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 52,601 shares of company stock worth $9,116,179. Insiders own 0.48% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in GWRE. Vanguard Group Inc. increased its holdings in shares of Guidewire Software by 0.8% during the first 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 period. Acadian Asset Management LLC boosted its position in shares of Guidewire Software by 91.3% during the 1st quarter. Acadian Asset Management LLC now owns 7,144 shares of the technology company’s stock worth $833,000 after acquiring an additional 3,409 shares in the last quarter. O Shaughnessy Asset Management LLC boosted its position in shares of Guidewire Software by 7.1% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 4,096 shares of the technology company’s stock worth $478,000 after acquiring an additional 271 shares in the last quarter. Clearbridge Investments LLC boosted its position in shares of Guidewire Software by 121.0% during the 1st quarter. Clearbridge Investments LLC now owns 295,595 shares of the technology company’s stock worth $34,499,000 after acquiring an additional 161,856 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co boosted its position in shares of Guidewire Software by 2.3% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 27,453 shares of the technology company’s stock worth $3,208,000 after acquiring an additional 619 shares in the last quarter.

About Guidewire Software

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.