Guidewire Software (NYSE:GWRE) Price Target Increased to $185.00 by Analysts at Wells Fargo & Company

Guidewire Software (NYSE:GWRE) had its price objective hoisted by Wells Fargo & Company from $175.00 to $185.00 in a report issued on Friday morning, Benzinga reports. They currently have an overweight rating on the technology company’s stock.

Other equities analysts have also recently issued reports about the stock. Stifel Nicolaus boosted their target price on shares of Guidewire Software from $130.00 to $140.00 and gave the company a buy rating in a research note on Wednesday, June 5th. Robert W. Baird increased their price objective on Guidewire Software from $152.00 to $165.00 and gave the company an outperform rating in a research note on Tuesday. Oppenheimer raised their target price on shares of Guidewire Software from $170.00 to $185.00 and gave the stock an outperform rating in a research note on Friday. BTIG Research lifted their price target on Guidewire Software from $140.00 to $165.00 and gave the stock a buy rating in a report on Friday, August 30th. Finally, Bank of America boosted their price objective on shares of Guidewire Software from $80.00 to $95.00 and gave the company an underperform rating in a report on Wednesday, June 5th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus target price of $158.38.

Guidewire Software Price Performance

Guidewire Software stock opened at $161.71 on Friday. Guidewire Software has a 1-year low of $83.91 and a 1-year high of $171.74. The business has a fifty day moving average price of $144.64 and a 200-day moving average price of $128.04. The stock has a market capitalization of $13.37 billion, a price-to-earnings ratio of -1,243.92 and a beta of 1.19.

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 analysts’ consensus estimates of $0.54 by $0.08. Guidewire Software had a negative net margin of 1.11% and a negative return on equity of 1.19%. The business had revenue of $291.50 million for the quarter, compared to analyst estimates of $283.84 million. During the same quarter in the prior year, the business posted $0.30 EPS. Guidewire Software’s revenue for the quarter was up 8.0% compared to the same quarter last year. On average, equities research analysts anticipate that Guidewire Software will post -0.31 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Guidewire Software news, CEO Michael George Rosenbaum sold 5,582 shares of Guidewire Software stock in a transaction that occurred on 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 $32,261,750.22. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, CFO Jeffrey Elliott Cooper sold 1,765 shares of the company’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $134.20, for a total value of $236,863.00. Following the sale, the chief financial officer now owns 61,714 shares of the company’s stock, valued at approximately $8,282,018.80. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, 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 value of $751,002.28. Following the completion of the sale, the chief executive officer now owns 239,793 shares in the company, valued at $32,261,750.22. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 13,064 shares of company stock valued at $1,782,775. 0.38% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Guidewire Software by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 8,134,952 shares of the technology company’s stock valued at $949,430,000 after acquiring an additional 67,439 shares during the last quarter. Wasatch Advisors LP raised its holdings in shares of Guidewire Software by 4.2% in the 1st quarter. Wasatch Advisors LP now owns 2,874,758 shares of the technology company’s stock worth $335,513,000 after purchasing an additional 115,600 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in shares of Guidewire Software by 23.2% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,747,349 shares of the technology company’s stock valued at $378,832,000 after purchasing an additional 516,942 shares in the last quarter. Linonia Partnership LP raised its holdings in Guidewire Software by 8.4% in the second quarter. Linonia Partnership LP now owns 2,395,601 shares of the technology company’s stock valued at $330,329,000 after buying an additional 185,077 shares during the period. Finally, Whale Rock Capital Management LLC increased its position in shares of Guidewire Software by 23.4% in the first quarter. Whale Rock Capital Management LLC now owns 1,270,870 shares of the technology company’s stock worth $148,323,000 after acquiring an additional 240,622 shares in the last quarter.

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.