Guidewire Software (NYSE:GWRE) Price Target Raised to $230.00

Guidewire Software (NYSE:GWRE) had its price target raised by Royal Bank of Canada from $215.00 to $230.00 in a research report report published on Friday,Benzinga reports. Royal Bank of Canada currently has an outperform rating on the technology company’s stock.

Several other brokerages also recently weighed in on GWRE. DA Davidson restated a “buy” rating and set a $210.00 target price on shares of Guidewire Software in a research note on Wednesday, December 4th. Oppenheimer raised their price target on shares of Guidewire Software from $220.00 to $230.00 and gave the stock an “outperform” rating in a report on Friday. JMP Securities reaffirmed a “market outperform” rating and set a $231.00 target price on shares of Guidewire Software in a research note on Friday. Stifel Nicolaus upped their price target on Guidewire Software from $200.00 to $220.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Guidewire Software from $210.00 to $228.00 and gave the company an “overweight” rating in a report on Friday. One equities 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 stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $193.00.

Guidewire Software Stock Down 14.0 %

Shares of Guidewire Software stock opened at $177.57 on Friday. The firm has a market cap of $14.83 billion, a price-to-earnings ratio of 493.25, a PEG ratio of 53.58 and a beta of 1.18. Guidewire Software has a twelve month low of $95.02 and a twelve month high of $209.15. The business has a 50-day moving average price of $191.58 and a 200-day moving average price of $161.08.

Guidewire Software (NYSE:GWRE) last released its earnings results 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 the consensus estimate of $283.84 million. Guidewire Software had a negative return on equity of 1.29% and a negative net margin of 0.62%. The business’s revenue for the quarter was up 8.0% compared to the same quarter last year. During the same period last year, the company earned $0.30 earnings per share. On average, equities analysts expect that Guidewire Software will post 0.53 EPS for the current fiscal year.

Insider Transactions at Guidewire Software

In related news, President John P. Mullen sold 1,350 shares of the stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $197.72, for a total transaction of $266,922.00. Following the transaction, the president now directly owns 189,261 shares in the company, valued at approximately $37,420,684.92. This represents a 0.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Michael George Rosenbaum sold 23,379 shares of Guidewire Software stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $172.16, for a total transaction of $4,024,928.64. Following the completion of the transaction, the chief executive officer now owns 287,662 shares in the company, valued at approximately $49,523,889.92. This trade represents a 7.52 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 52,601 shares of company stock valued at $9,116,179 over the last three months. 0.48% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Guidewire Software

Several hedge funds have recently modified their holdings of the stock. Massachusetts Financial Services Co. MA boosted its stake in shares of 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 during the period. Linonia Partnership LP increased its stake in shares of Guidewire Software by 8.4% in the second quarter. Linonia Partnership LP now owns 2,395,601 shares of the technology company’s stock worth $330,329,000 after buying an additional 185,077 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Guidewire Software by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 1,330,074 shares of the technology company’s stock valued at $243,580,000 after purchasing an additional 6,223 shares in the last quarter. Whale Rock Capital Management LLC lifted its holdings in Guidewire Software by 3.3% during the 3rd quarter. Whale Rock Capital Management LLC now owns 972,743 shares of the technology company’s stock worth $177,954,000 after buying an additional 31,512 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. boosted its holdings in Guidewire Software by 7.6% in the third quarter. Jacobs Levy Equity Management Inc. now owns 764,400 shares of the technology company’s stock worth $139,839,000 after purchasing an additional 53,967 shares during the period.

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.