Wells Fargo & Company Increases Guidewire Software (NYSE:GWRE) Price Target to $200.00

Guidewire Software (NYSE:GWRE) had its price objective boosted by research analysts at Wells Fargo & Company from $185.00 to $200.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage presently has an “overweight” rating on the technology company’s stock. Wells Fargo & Company‘s price objective points to a potential upside of 8.57% from the stock’s previous close.

A number of other analysts also recently commented on the company. Robert W. Baird boosted their target price on Guidewire Software from $152.00 to $165.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 3rd. DA Davidson reiterated a “buy” rating and issued a $168.00 price objective on shares of Guidewire Software in a research report on Friday, September 6th. Stifel Nicolaus raised their target price on shares of Guidewire Software from $175.00 to $200.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Oppenheimer upped their price target on shares of Guidewire Software from $170.00 to $185.00 and gave the company an “outperform” rating in a report on Friday, September 6th. Finally, Citigroup raised their price objective on shares of Guidewire Software from $123.00 to $165.00 and gave the stock a “neutral” rating in a research note on Monday, September 9th. One equities research 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. Based on data from MarketBeat, Guidewire Software currently has an average rating of “Moderate Buy” and a consensus price target of $170.92.

Guidewire Software Stock Performance

Shares of NYSE GWRE opened at $184.22 on Thursday. Guidewire Software has a one year low of $85.15 and a one year high of $184.96. The firm has a market capitalization of $15.23 billion, a P/E ratio of -1,412.85 and a beta of 1.19. The company’s fifty day moving average is $157.60 and its two-hundred day moving average is $135.65.

Guidewire Software (NYSE:GWRE) last issued its earnings results on Thursday, September 5th. The technology company reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.08. Guidewire Software had a negative net margin of 0.62% and a negative return on equity of 1.29%. The company had revenue of $291.50 million for the quarter, compared to analyst estimates of $283.84 million. During the same period in the prior year, the business posted $0.30 earnings per share. The firm’s revenue for the quarter was up 8.0% compared to the same quarter last year. On average, sell-side analysts forecast that Guidewire Software will post 0.49 earnings per share for the current fiscal year.

Insider Activity

In other Guidewire Software news, insider John P. Mullen sold 1,350 shares of the company’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $149.03, for a total transaction of $201,190.50. Following the completion of the sale, the insider now directly owns 137,821 shares in the company, valued at $20,539,463.63. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, insider James Winston King sold 4,514 shares of Guidewire Software stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $172.66, for a total transaction of $779,387.24. Following the transaction, the insider now owns 48,237 shares in the company, valued at approximately $8,328,600.42. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider John P. Mullen sold 1,350 shares of the stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $149.03, for a total value of $201,190.50. Following the completion of the sale, the insider now owns 137,821 shares of the company’s stock, valued at approximately $20,539,463.63. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 52,601 shares of company stock valued at $8,984,892 in the last ninety days. Company insiders own 0.38% of the company’s stock.

Institutional Trading of Guidewire Software

A number of hedge funds have recently made changes to their positions in GWRE. Teca Partners LP grew its stake in Guidewire Software by 31.1% during the 4th quarter. Teca Partners LP now owns 195,599 shares of the technology company’s stock worth $21,328,000 after buying an additional 46,453 shares during the last quarter. Kapitalo Investimentos Ltda acquired a new stake in Guidewire Software in the 4th quarter valued at about $204,000. Wasatch Advisors LP grew its stake 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 last quarter. SG Americas Securities LLC bought a new stake in shares of Guidewire Software in the 1st quarter worth approximately $417,000. Finally, Cetera Investment Advisers lifted its stake in Guidewire Software by 648.0% during the first quarter. Cetera Investment Advisers now owns 18,117 shares of the technology company’s stock valued at $2,114,000 after purchasing an additional 15,695 shares during 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.