Guidewire Software (NYSE:GWRE) Price Target Raised to $220.00

Guidewire Software (NYSE:GWRE) had its price target upped by Robert W. Baird from $204.00 to $220.00 in a research report report published on Tuesday,Benzinga reports. They currently have an outperform rating on the technology company’s stock.

Other equities research analysts have also issued reports about the stock. The Goldman Sachs Group increased their target price on shares of Guidewire Software from $146.00 to $170.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. JPMorgan Chase & Co. boosted their price objective on Guidewire Software from $170.00 to $210.00 and gave the company an “overweight” rating in a research report on Thursday, October 3rd. DA Davidson reaffirmed a “buy” rating and issued a $168.00 price objective on shares of Guidewire Software in a research report on Friday, September 6th. Needham & Company LLC reissued a “hold” rating on shares of Guidewire Software in a research note on Friday, October 11th. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $200.00 price objective (up from $185.00) on shares of Guidewire Software in a research report on Friday, October 11th. One analyst has rated the stock with a sell rating, two have given a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $183.69.

Guidewire Software Stock Performance

Guidewire Software stock opened at $200.00 on Tuesday. Guidewire Software has a 52 week low of $95.02 and a 52 week high of $201.60. The firm has a market cap of $16.70 billion, a P/E ratio of -2,499.64, a P/E/G ratio of 50.80 and a beta of 1.18. The business’s fifty day moving average is $185.74 and its two-hundred day moving average is $154.29.

Guidewire Software (NYSE:GWRE) last released its earnings results on Thursday, September 5th. The technology company reported $0.62 EPS for the quarter, beating the consensus estimate of $0.54 by $0.08. The company had revenue of $291.50 million during the quarter, compared to analysts’ expectations of $283.84 million. Guidewire Software had a negative return on equity of 1.29% and a negative net margin of 0.62%. The business’s revenue for the quarter was up 8.0% on a year-over-year basis. During the same period last year, the firm earned $0.30 EPS. On average, equities research analysts predict that Guidewire Software will post 0.53 earnings per share 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 stock was sold at an average price of $187.68, for a total value of $253,368.00. Following the transaction, the president now owns 190,611 shares in the company, valued at approximately $35,773,872.48. This trade represents a 0.70 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Michael George Rosenbaum sold 23,379 shares of the company’s stock in a transaction dated 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 directly owns 287,662 shares of the company’s stock, valued at $49,523,889.92. This represents a 7.52 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 52,601 shares of company stock worth $9,116,179 in the last quarter. 0.48% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in GWRE. Vanguard Group Inc. grew its position in Guidewire Software by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 8,134,952 shares of the technology company’s stock worth $949,430,000 after acquiring an additional 67,439 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of Guidewire Software by 24.7% during the third quarter. Massachusetts Financial Services Co. MA now owns 3,426,907 shares of the technology company’s stock worth $626,918,000 after purchasing an additional 679,558 shares during the last quarter. Linonia Partnership LP increased its stake in shares of Guidewire Software by 8.4% in the second quarter. Linonia Partnership LP now owns 2,395,601 shares of the technology company’s stock valued at $330,329,000 after buying an additional 185,077 shares during the period. Geode Capital Management LLC raised its holdings in Guidewire Software by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 1,330,074 shares of the technology company’s stock valued at $243,580,000 after buying an additional 6,223 shares during the last quarter. Finally, Whale Rock Capital Management LLC boosted its position in Guidewire Software by 23.4% during the 1st quarter. Whale Rock Capital Management LLC now owns 1,270,870 shares of the technology company’s stock worth $148,323,000 after buying an additional 240,622 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.