Guidewire Software (NYSE:GWRE) Given New $175.00 Price Target at Stifel Nicolaus

Guidewire Software (NYSE:GWRE) had its target price hoisted by Stifel Nicolaus from $140.00 to $175.00 in a research note issued to investors on Friday, Benzinga reports. Stifel Nicolaus currently has a buy rating on the technology company’s stock.

Several other research firms have also commented on GWRE. Wells Fargo & Company increased their target price on Guidewire Software from $175.00 to $185.00 and gave the company an overweight rating in a report on Friday. JMP Securities increased their price objective on Guidewire Software from $141.00 to $179.00 and gave the company a market outperform rating in a report on Friday. Royal Bank of Canada raised their target price on Guidewire Software from $170.00 to $180.00 and gave the stock an outperform rating in a research report on Friday. Needham & Company LLC reaffirmed a hold rating on shares of Guidewire Software in a report on Friday. Finally, Robert W. Baird raised their price objective on shares of Guidewire Software from $152.00 to $165.00 and gave the stock an outperform rating in a report on Tuesday, September 3rd. One analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average target price of $161.69.

Guidewire Software Price Performance

GWRE stock opened at $168.04 on Friday. The business’s 50-day moving average is $145.23 and its two-hundred day moving average is $128.55. The firm has a market capitalization of $13.89 billion, a P/E ratio of -1,292.52 and a beta of 1.18. Guidewire Software has a 1 year low of $85.15 and a 1 year high of $171.74.

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, topping analysts’ consensus estimates of $0.54 by $0.08. Guidewire Software had a negative net margin of 0.62% and a negative return on equity of 1.32%. The company had revenue of $291.50 million during the quarter, compared to the consensus estimate of $283.84 million. During the same quarter in the previous year, the firm earned $0.30 earnings per share. The firm’s quarterly revenue was up 8.0% on a year-over-year basis. On average, analysts expect that Guidewire Software will post 0.38 EPS for the current year.

Insider Activity at Guidewire Software

In other Guidewire Software news, CEO Michael George Rosenbaum sold 5,582 shares of the firm’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 transaction, the chief executive officer now directly 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 Securities & Exchange Commission, which is available at the SEC website. In other news, CFO Jeffrey Elliott Cooper sold 1,765 shares of the business’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 transaction, the chief financial officer now owns 61,714 shares of the company’s stock, valued at $8,282,018.80. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Michael George Rosenbaum sold 5,582 shares of the stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $134.54, for a total value of $751,002.28. Following the sale, the chief executive officer now directly owns 239,793 shares of the company’s stock, valued at $32,261,750.22. The disclosure for this sale can be found here. Insiders sold a total of 13,064 shares of company stock worth $1,782,775 in the last 90 days. 0.38% of the stock is owned by insiders.

Hedge Funds Weigh In On Guidewire Software

Several institutional investors have recently bought and sold shares of GWRE. Massachusetts Financial Services Co. MA acquired a new stake in shares of Guidewire Software in the 4th quarter worth $105,311,000. Norges Bank purchased a new position in Guidewire Software during the fourth quarter worth about $97,829,000. Whale Rock Capital Management LLC lifted its position in 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 valued at $148,323,000 after purchasing an additional 240,622 shares during the period. Teca Partners LP purchased a new stake in Guidewire Software in the 2nd quarter valued at approximately $25,893,000. Finally, Linonia Partnership LP boosted its holdings in Guidewire Software by 8.4% in the 2nd 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.

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.