Guidewire Software’s (GWRE) “Market Outperform” Rating Reiterated at JMP Securities

JMP Securities restated their market outperform rating on shares of Guidewire Software (NYSE:GWRE) in a research note released on Friday morning,Benzinga reports. The brokerage currently has a $231.00 target price on the technology company’s stock.

GWRE has been the subject of several other reports. BTIG Research increased their price target on Guidewire Software from $140.00 to $165.00 and gave the company a “buy” rating in a research report on Friday, August 30th. Oppenheimer upped their price objective on Guidewire Software from $220.00 to $230.00 and gave the stock an “outperform” rating in a research note on Friday. JPMorgan Chase & Co. raised their target price on shares of Guidewire Software from $170.00 to $210.00 and gave the company an “overweight” rating in a research note on Thursday, October 3rd. Royal Bank of Canada restated an “outperform” rating and set a $215.00 target price on shares of Guidewire Software in a report on Tuesday, November 19th. Finally, DA Davidson reiterated a “buy” rating and issued a $210.00 price target on shares of Guidewire Software in a research note on Wednesday, December 4th. One analyst has rated the stock with a sell rating, two have given a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, Guidewire Software currently has a consensus rating of “Moderate Buy” and an average price target of $193.00.

Guidewire Software Stock Down 14.0 %

Shares of GWRE stock 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’s fifty day simple moving average is $191.58 and its 200-day simple moving average is $161.08. The firm has a market cap of $14.83 billion, a PE ratio of 493.25, a P/E/G ratio of 53.58 and a beta of 1.18.

Guidewire Software (NYSE:GWRE) last issued its quarterly 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 firm had revenue of $291.50 million for the quarter, compared to analyst estimates of $283.84 million. The company’s revenue was up 8.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.30 EPS. On average, equities analysts predict that Guidewire Software will post 0.53 earnings per share for the current fiscal year.

Insider Activity at Guidewire Software

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, President John P. Mullen sold 1,350 shares of the firm’s 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 disclosure for this sale can be found here. In the last 90 days, insiders have sold 52,601 shares of company stock worth $9,116,179. Insiders own 0.48% of the company’s stock.

Institutional Investors Weigh In On Guidewire Software

Several institutional investors have recently made changes to their positions in GWRE. Massachusetts Financial Services Co. MA lifted its holdings in shares of Guidewire Software by 24.7% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,426,907 shares of the technology company’s stock worth $626,918,000 after acquiring an additional 679,558 shares during the period. Linonia Partnership LP raised its position 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 valued at $330,329,000 after purchasing an additional 185,077 shares in the last quarter. Geode Capital Management LLC lifted its stake in Guidewire Software by 0.5% during the third quarter. Geode Capital Management LLC now owns 1,330,074 shares of the technology company’s stock worth $243,580,000 after purchasing an additional 6,223 shares during the last quarter. Whale Rock Capital Management LLC boosted its holdings in shares of Guidewire Software by 3.3% in the 3rd quarter. Whale Rock Capital Management LLC now owns 972,743 shares of the technology company’s stock valued at $177,954,000 after purchasing an additional 31,512 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. increased its stake in shares of Guidewire Software by 7.6% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 764,400 shares of the technology company’s stock valued at $139,839,000 after purchasing an additional 53,967 shares during 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.