Guidewire Software (NYSE:GWRE) Price Target Raised to $180.00

Guidewire Software (NYSE:GWRE) had its price objective increased by Royal Bank of Canada from $170.00 to $180.00 in a research note published on Friday morning, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the technology company’s stock.

A number of other equities research analysts also recently commented on the stock. Bank of America lifted their price target on shares of Guidewire Software from $80.00 to $95.00 and gave the stock an underperform rating in a report on Wednesday, June 5th. Citigroup increased their price target on Guidewire Software from $109.00 to $122.00 and gave the stock a neutral rating in a research note on Tuesday, June 4th. BTIG Research lifted their price objective on Guidewire Software from $140.00 to $165.00 and gave the company a buy rating in a research report on Friday, August 30th. JPMorgan Chase & Co. upped 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. Finally, Needham & Company LLC restated a hold rating on shares of Guidewire Software in a report on Friday. One analyst has rated the stock with a sell rating, three have given a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, Guidewire Software has a consensus rating of Moderate Buy and an average target price of $161.69.

Guidewire Software Stock Performance

Shares of NYSE:GWRE opened at $168.04 on Friday. The business’s fifty day moving average price is $145.23 and its two-hundred day moving average price is $128.55. The stock has a market cap of $13.89 billion, a PE ratio of -1,292.52 and a beta of 1.18. Guidewire Software has a one year low of $85.15 and a one year high of $171.74.

Guidewire Software (NYSE:GWRE) last issued its quarterly earnings data 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. The business had revenue of $291.50 million for the quarter, compared to the consensus estimate of $283.84 million. Guidewire Software had a negative return on equity of 1.32% and a negative net margin of 0.62%. The business’s revenue was up 8.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.30 earnings per share. As a group, equities research analysts predict that Guidewire Software will post 0.38 earnings per share for the current fiscal year.

Insider Transactions at Guidewire Software

In other 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 value 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 other news, CFO Jeffrey Elliott Cooper sold 1,765 shares of the firm’s stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $134.20, for a total transaction of $236,863.00. Following the completion of the sale, the chief financial officer now directly owns 61,714 shares in the company, valued at $8,282,018.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 value of $751,002.28. Following 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. Insiders sold 13,064 shares of company stock valued at $1,782,775 over the last 90 days. Corporate insiders own 0.38% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in GWRE. Massachusetts Financial Services Co. MA acquired a new stake in shares of Guidewire Software during the fourth quarter worth $105,311,000. Norges Bank acquired a new stake in Guidewire Software in the fourth quarter worth $97,829,000. Whale Rock Capital Management LLC lifted its stake 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 buying an additional 240,622 shares during the last quarter. Teca Partners LP acquired a new position in shares of Guidewire Software during the second quarter valued at $25,893,000. Finally, Linonia Partnership LP boosted its holdings in shares of 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 acquiring an additional 185,077 shares during the period.

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.