Analysts Set Guidewire Software, Inc. (NYSE:GWRE) Target Price at $178.62

Shares of Guidewire Software, Inc. (NYSE:GWRE) have been assigned an average rating of “Moderate Buy” from the fourteen ratings firms that are covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and eleven have given a buy recommendation to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $178.62.

Several analysts have recently commented on GWRE shares. The Goldman Sachs Group raised their price target on Guidewire Software from $146.00 to $170.00 and gave the company a “buy” rating in a report on Monday, July 22nd. Needham & Company LLC restated a “hold” rating on shares of Guidewire Software in a research report on Friday, October 11th. JPMorgan Chase & Co. increased their price target on shares of Guidewire Software from $170.00 to $210.00 and gave the company an “overweight” rating in a report on Thursday, October 3rd. Oppenheimer reiterated an “outperform” rating and issued a $200.00 price objective (up previously from $185.00) on shares of Guidewire Software in a research note on Friday, October 11th. Finally, JMP Securities upped their target price on shares of Guidewire Software from $179.00 to $200.00 and gave the stock a “market outperform” rating in a research report on Friday, October 11th.

Insiders Place Their Bets

In other news, CFO Jeffrey Elliott Cooper sold 4,956 shares of the company’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $172.70, for a total value of $855,901.20. Following the sale, the chief financial officer now directly owns 78,411 shares in the company, valued at $13,541,579.70. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Guidewire Software news, CEO Michael George Rosenbaum sold 23,379 shares of Guidewire Software stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $172.16, for a total value of $4,024,928.64. Following the completion of the sale, the chief executive officer now directly owns 287,662 shares of the company’s stock, valued at approximately $49,523,889.92. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Jeffrey Elliott Cooper sold 4,956 shares of the business’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $172.70, for a total value of $855,901.20. Following the completion of the transaction, the chief financial officer now owns 78,411 shares of the company’s stock, valued at $13,541,579.70. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 51,251 shares of company stock valued at $8,797,080. Corporate insiders own 0.38% of the company’s stock.

Hedge Funds Weigh In On Guidewire Software

Several institutional investors have recently added to or reduced their stakes in GWRE. Allspring Global Investments Holdings LLC increased its stake in shares of Guidewire Software by 4.0% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 2,050 shares of the technology company’s stock valued at $283,000 after acquiring an additional 79 shares during the last quarter. Vanguard Personalized Indexing Management LLC grew its holdings in Guidewire Software by 1.3% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 9,078 shares of the technology company’s stock valued at $1,252,000 after purchasing an additional 116 shares during the period. CHICAGO TRUST Co NA grew its holdings in Guidewire Software by 4.8% in the second quarter. CHICAGO TRUST Co NA now owns 2,845 shares of the technology company’s stock valued at $392,000 after purchasing an additional 130 shares during the period. Legacy Advisors LLC raised its stake in Guidewire Software by 1.6% during the second quarter. Legacy Advisors LLC now owns 8,329 shares of the technology company’s stock worth $1,148,000 after purchasing an additional 135 shares during the period. Finally, Trust Point Inc. boosted its holdings in shares of Guidewire Software by 2.1% in the 3rd quarter. Trust Point Inc. now owns 7,277 shares of the technology company’s stock valued at $1,331,000 after purchasing an additional 152 shares during the last quarter.

Guidewire Software Price Performance

NYSE:GWRE opened at $189.10 on Friday. The firm has a market cap of $15.63 billion, a price-to-earnings ratio of -1,454.62 and a beta of 1.19. Guidewire Software has a 1-year low of $85.15 and a 1-year high of $191.48. The firm’s fifty day moving average price is $166.48 and its 200 day moving average price is $141.11.

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. The business had revenue of $291.50 million for the quarter, compared to analyst estimates of $283.84 million. Guidewire Software had a negative net margin of 0.62% and a negative return on equity of 1.29%. The business’s revenue was up 8.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.30 earnings per share. As a group, analysts expect that Guidewire Software will post 0.53 earnings per share for the current fiscal year.

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.