Guidewire Software (NYSE:GWRE) Given New $220.00 Price Target at Oppenheimer

Guidewire Software (NYSE:GWRE) had its target price boosted by Oppenheimer from $200.00 to $220.00 in a research note released on Tuesday morning,Benzinga reports. The brokerage currently has an outperform rating on the technology company’s stock.

Several other analysts have also recently commented on the stock. Needham & Company LLC reissued a “hold” rating on shares of Guidewire Software in a research note on Friday, October 11th. JMP Securities raised their price objective on shares of Guidewire Software from $179.00 to $200.00 and gave the company a “market outperform” rating in a research note on Friday, October 11th. Citigroup raised their price objective on shares of Guidewire Software from $123.00 to $165.00 and gave the company a “neutral” rating in a research note on Monday, September 9th. Robert W. Baird raised their price objective on shares of Guidewire Software from $204.00 to $220.00 and gave the company an “outperform” rating in a research note on Tuesday. Finally, Wells Fargo & Company raised their price objective on shares of Guidewire Software from $200.00 to $205.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $183.69.

Guidewire Software Stock Up 1.2 %

NYSE:GWRE opened at $196.35 on Tuesday. Guidewire Software has a 12-month low of $95.02 and a 12-month high of $199.33. The firm has a market capitalization of $16.40 billion, a PE ratio of -2,454.01, a price-to-earnings-growth ratio of 49.72 and a beta of 1.18. The firm has a 50-day moving average price of $184.55 and a 200 day moving average price of $153.67.

Guidewire Software (NYSE:GWRE) last issued its quarterly earnings data 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. The firm had revenue of $291.50 million for the quarter, compared to analysts’ expectations of $283.84 million. Guidewire Software had a negative net margin of 0.62% and a negative return on equity of 1.29%. The company’s quarterly revenue was up 8.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.30 earnings per share. On average, research analysts expect that Guidewire Software will post 0.53 EPS for the current year.

Insiders Place Their Bets

In related news, President John P. Mullen sold 1,350 shares of the firm’s stock in a transaction on Friday, October 18th. The shares were sold at an average price of $187.68, for a total transaction of $253,368.00. Following the sale, the president now directly owns 190,611 shares in the company, valued at $35,773,872.48. This trade represents a 0.70 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Michael George Rosenbaum sold 23,379 shares of the firm’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $172.16, for a total transaction of $4,024,928.64. Following the sale, the chief executive officer now owns 287,662 shares in the company, valued at approximately $49,523,889.92. The trade was a 7.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 51,251 shares of company stock worth $8,849,257. Company insiders own 0.48% of the company’s stock.

Institutional Investors Weigh In On Guidewire Software

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Assetmark Inc. raised its holdings in shares of Guidewire Software by 537.0% during the third quarter. Assetmark Inc. now owns 172 shares of the technology company’s stock worth $31,000 after acquiring an additional 145 shares during the period. Point72 Hong Kong Ltd acquired a new stake in shares of Guidewire Software during the third quarter worth $33,000. Rothschild Investment LLC bought a new position in Guidewire Software in the second quarter valued at $31,000. Brooklyn Investment Group bought a new position in Guidewire Software in the third quarter valued at $42,000. Finally, DT Investment Partners LLC bought a new position in Guidewire Software in the second quarter valued at $41,000.

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.