Guidewire Software (NYSE:GWRE) Price Target Increased to $170.00 by Analysts at Royal Bank of Canada

Guidewire Software (NYSE:GWRE) had its target price raised by Royal Bank of Canada from $130.00 to $170.00 in a research report sent to investors on Thursday, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the technology company’s stock.

Several other research analysts also recently weighed in on GWRE. Wells Fargo & Company lifted their target price on shares of Guidewire Software from $140.00 to $150.00 and gave the stock an overweight rating in a research report on Friday, June 21st. Citigroup increased their target price on Guidewire Software from $109.00 to $122.00 and gave the company a neutral rating in a report on Tuesday, June 4th. Robert W. Baird lifted their price target on Guidewire Software from $140.00 to $152.00 and gave the company an outperform rating in a report on Thursday, June 6th. Oppenheimer increased their price objective on Guidewire Software from $130.00 to $140.00 and gave the stock an outperform rating in a research note on Wednesday, June 5th. Finally, JPMorgan Chase & Co. lifted their target price on Guidewire Software from $133.00 to $145.00 and gave the company an overweight rating in a research note on Wednesday, June 5th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Guidewire Software has an average rating of Moderate Buy and an average price target of $133.08.

Guidewire Software Stock Performance

Shares of NYSE:GWRE opened at $137.89 on Thursday. The company has a market capitalization of $11.40 billion, a PE ratio of -1,060.69 and a beta of 1.14. The stock has a fifty day moving average of $122.99 and a 200-day moving average of $116.37. Guidewire Software has a one year low of $74.03 and a one year high of $139.91.

Guidewire Software (NYSE:GWRE) last announced its earnings results on Tuesday, June 4th. The technology company reported ($0.09) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.14. Guidewire Software had a negative return on equity of 1.19% and a negative net margin of 1.11%. The company had revenue of $240.68 million for the quarter, compared to analyst estimates of $231.46 million. As a group, research analysts forecast that Guidewire Software will post -0.31 EPS for the current fiscal year.

Insider Buying and Selling at Guidewire Software

In other news, CEO Michael George Rosenbaum sold 5,582 shares of the stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of $134.54, for a total transaction of $751,002.28. Following the transaction, the chief executive officer now owns 239,793 shares of the company’s stock, valued at approximately $32,261,750.22. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CEO Michael George Rosenbaum sold 5,582 shares of the company’s stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $134.54, for a total transaction of $751,002.28. Following the completion of the sale, the chief executive officer now directly owns 239,793 shares of the company’s stock, valued at approximately $32,261,750.22. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Jeffrey Elliott Cooper sold 3,017 shares of Guidewire Software stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $134.54, for a total transaction of $405,907.18. Following the completion of the transaction, the chief financial officer now owns 63,479 shares in the company, valued at approximately $8,540,464.66. The disclosure for this sale can be found here. Insiders have sold a total of 13,064 shares of company stock worth $1,710,361 over the last three months. Corporate insiders own 0.38% of the company’s stock.

Institutional Trading of Guidewire Software

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GWRE. Hsbc Holdings PLC increased its position in Guidewire Software by 1,318.8% during the third quarter. Hsbc Holdings PLC now owns 42,677 shares of the technology company’s stock worth $3,880,000 after acquiring an additional 39,669 shares during the period. Northern Trust Corp increased its holdings in shares of Guidewire Software by 1.7% during the 3rd quarter. Northern Trust Corp now owns 481,385 shares of the technology company’s stock worth $43,325,000 after purchasing an additional 7,922 shares during the period. O Shaughnessy Asset Management LLC bought a new position in shares of Guidewire Software during the 3rd quarter worth about $220,000. Treasurer of the State of North Carolina lifted its stake in shares of Guidewire Software by 0.5% in the third quarter. Treasurer of the State of North Carolina now owns 35,826 shares of the technology company’s stock valued at $3,224,000 after buying an additional 190 shares during the period. Finally, Gotham Asset Management LLC grew its position in Guidewire Software by 253.3% during the third quarter. Gotham Asset Management LLC now owns 12,511 shares of the technology company’s stock worth $1,126,000 after buying an additional 8,970 shares in 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.