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

Guidewire Software (NYSE:GWRE) had its price target boosted by Wells Fargo & Company from $215.00 to $220.00 in a research report report published on Friday morning,Benzinga reports. They currently have an overweight rating on the technology company’s stock.

Other research analysts have also issued reports about the stock. Citigroup lifted their price target on shares of Guidewire Software from $123.00 to $165.00 and gave the company a “neutral” rating in a report on Monday, September 9th. Stifel Nicolaus boosted their target price on shares of Guidewire Software from $200.00 to $220.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. JMP Securities reissued a “market outperform” rating and set a $231.00 target price on shares of Guidewire Software in a research note on Friday. Needham & Company LLC reissued a “hold” rating on shares of Guidewire Software in a research note on Friday. Finally, DA Davidson reissued a “buy” rating and set a $210.00 target price on shares of Guidewire Software in a research note on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $193.00.

Guidewire Software Stock Performance

GWRE opened at $177.57 on Friday. Guidewire Software has a 1-year low of $95.02 and a 1-year high of $209.15. The company has a 50-day moving average of $191.58 and a 200-day moving average of $161.08. The company has a market capitalization of $14.83 billion, a P/E ratio of 493.25, a PEG ratio of 53.58 and a beta of 1.18.

Guidewire Software (NYSE:GWRE) last posted 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 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 analyst estimates of $283.84 million. During the same period in the previous year, the business posted $0.30 EPS. The company’s quarterly revenue was up 8.0% on a year-over-year basis. As a group, sell-side analysts expect that Guidewire Software will post 0.53 earnings per share for the current fiscal year.

Insider Transactions at Guidewire Software

In related news, insider James Winston King sold 4,514 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $172.66, for a total value of $779,387.24. Following the sale, the insider now directly owns 48,237 shares in the company, valued at $8,328,600.42. The trade was a 8.56 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Michael George Rosenbaum sold 23,379 shares of the business’s 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 completion of the sale, the chief executive officer now owns 287,662 shares in the company, valued at $49,523,889.92. The trade was a 7.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 52,601 shares of company stock valued at $9,116,179. Company insiders own 0.48% of the company’s stock.

Institutional Investors Weigh In On Guidewire Software

A number of large investors have recently made changes to their positions in the company. Assetmark Inc. grew its position in Guidewire Software by 537.0% during the third quarter. Assetmark Inc. now owns 172 shares of the technology company’s stock valued at $31,000 after purchasing an additional 145 shares in the last quarter. Point72 Hong Kong Ltd purchased a new position in Guidewire Software during the third quarter valued at approximately $33,000. Rothschild Investment LLC purchased a new position in Guidewire Software during the second quarter valued at approximately $31,000. Brooklyn Investment Group purchased a new position in Guidewire Software during the third quarter valued at approximately $42,000. Finally, DT Investment Partners LLC purchased a new position in Guidewire Software during the second quarter valued at approximately $41,000.

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.