Guidewire Software (NYSE:GWRE) Price Target Raised to $228.00

Guidewire Software (NYSE:GWRE) had its price target hoisted by JPMorgan Chase & Co. from $210.00 to $228.00 in a research report released on Friday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the technology company’s stock.

A number of other analysts also recently issued reports on the stock. Oppenheimer lifted their price objective on shares of Guidewire Software from $220.00 to $230.00 and gave the company an “outperform” rating in a report on Friday. Stifel Nicolaus raised 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 issued a $231.00 target price on shares of Guidewire Software in a research note on Friday. Robert W. Baird raised their target price on shares of Guidewire Software from $204.00 to $220.00 and gave the company an “outperform” rating in a research note on Tuesday, November 19th. Finally, DA Davidson reissued a “buy” rating and issued 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 assigned a hold rating and eleven have given a buy rating to the company. According to MarketBeat, Guidewire Software presently has a consensus rating of “Moderate Buy” and a consensus price target of $193.00.

Guidewire Software Stock Down 14.0 %

NYSE GWRE opened at $177.57 on Friday. Guidewire Software has a 12-month low of $95.02 and a 12-month high of $209.15. The company has a market capitalization of $14.83 billion, a PE ratio of 493.25, a price-to-earnings-growth ratio of 53.58 and a beta of 1.18. The firm’s 50 day moving average is $191.58 and its 200-day moving average is $161.08.

Guidewire Software (NYSE:GWRE) last posted its quarterly earnings data on Thursday, September 5th. The technology company reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $291.50 million for the quarter, compared to the consensus estimate of $283.84 million. During the same period last year, the company earned $0.30 earnings per share. The firm’s revenue was up 8.0% compared to the same quarter last year. As a group, sell-side analysts expect that Guidewire Software will post 0.53 EPS for the current year.

Insider Activity

In other news, CEO Michael George Rosenbaum sold 23,379 shares of the business’s 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 completion of the sale, the chief executive officer now owns 287,662 shares of the company’s stock, valued at approximately $49,523,889.92. The trade was a 7.52 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider John P. Mullen sold 6,718 shares of the business’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $172.16, for a total value of $1,156,570.88. Following the completion of the transaction, the insider now directly owns 160,099 shares of the company’s stock, 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 90 days, insiders sold 52,601 shares of company stock valued at $9,116,179. 0.48% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of GWRE. Massachusetts Financial Services Co. MA raised its stake in Guidewire Software by 24.7% in the third quarter. Massachusetts Financial Services Co. MA now owns 3,426,907 shares of the technology company’s stock valued at $626,918,000 after purchasing an additional 679,558 shares in the last quarter. International Assets Investment Management LLC raised its stake in Guidewire Software by 18,001.5% during the third quarter. International Assets Investment Management LLC now owns 258,128 shares of the technology company’s stock worth $472,220,000 after acquiring an additional 256,702 shares in the last quarter. Teca Partners LP acquired a new position in Guidewire Software during the second quarter worth about $25,893,000. Linonia Partnership LP raised its stake in Guidewire Software by 8.4% during the second quarter. Linonia Partnership LP now owns 2,395,601 shares of the technology company’s stock worth $330,329,000 after acquiring an additional 185,077 shares in the last quarter. Finally, Great Lakes Advisors LLC acquired a new position in Guidewire Software during the second quarter worth about $22,318,000.

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.