The Goldman Sachs Group Issues Positive Forecast for Guidewire Software (NYSE:GWRE) Stock Price

Guidewire Software (NYSE:GWRE) had its price target upped by The Goldman Sachs Group from $210.00 to $240.00 in a research note released on Monday,Benzinga reports. The firm currently has a buy rating on the technology company’s stock.

Other research analysts also recently issued reports about the stock. Wells Fargo & Company raised their price objective on shares of Guidewire Software from $215.00 to $220.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. Robert W. Baird raised their price target on Guidewire Software from $204.00 to $220.00 and gave the stock an “outperform” rating in a report on Tuesday, November 19th. Stifel Nicolaus increased their price objective on Guidewire Software from $200.00 to $220.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Needham & Company LLC reaffirmed a “hold” rating on shares of Guidewire Software in a report on Friday, December 6th. Finally, JPMorgan Chase & Co. increased their price target on shares of Guidewire Software from $210.00 to $228.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $204.50.

Guidewire Software Price Performance

NYSE GWRE opened at $218.04 on Monday. The company has a quick ratio of 2.66, a current ratio of 2.66 and a debt-to-equity ratio of 0.53. The company has a market cap of $18.21 billion, a PE ratio of 605.68, a price-to-earnings-growth ratio of 56.59 and a beta of 1.25. Guidewire Software has a 52 week low of $107.00 and a 52 week high of $219.59. The firm’s 50-day simple moving average is $185.24 and its two-hundred day simple moving average is $177.46.

Insider Buying and Selling

In other Guidewire Software news, CEO Michael George Rosenbaum sold 1,400 shares of the firm’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $214.68, for a total transaction of $300,552.00. Following the completion of the sale, the chief executive officer now directly owns 274,730 shares in the company, valued at approximately $58,979,036.40. This trade represents a 0.51 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider James Winston King sold 1,509 shares of the stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $171.06, for a total transaction of $258,129.54. Following the sale, the insider now owns 46,728 shares in the company, valued at approximately $7,993,291.68. The trade was a 3.13 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 37,506 shares of company stock valued at $6,789,679 over the last quarter. 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 added to or reduced their stakes in the stock. Versant Capital Management Inc purchased a new stake in shares of Guidewire Software in the 4th quarter worth $25,000. Assetmark Inc. increased its position in Guidewire Software by 537.0% in the third quarter. Assetmark Inc. now owns 172 shares of the technology company’s stock worth $31,000 after buying an additional 145 shares in the last quarter. Point72 Hong Kong Ltd bought a new position in shares of Guidewire Software in the third quarter worth about $33,000. Cullen Frost Bankers Inc. purchased a new position in shares of Guidewire Software during the 4th quarter valued at about $34,000. Finally, Brooklyn Investment Group bought a new position in shares of Guidewire Software during the 3rd quarter valued at approximately $42,000.

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.