Guidewire Software (NYSE:GWRE) Receives “Hold” Rating from Needham & Company LLC

Needham & Company LLC restated their hold rating on shares of Guidewire Software (NYSE:GWRE) in a report published on Friday, Benzinga reports.

GWRE has been the topic of a number of other reports. Robert W. Baird lifted their price target on shares of Guidewire Software from $175.00 to $204.00 and gave the company an outperform rating in a report on Tuesday. Oppenheimer lifted their target price on Guidewire Software from $185.00 to $200.00 and gave the stock an outperform rating in a report on Friday, October 4th. Royal Bank of Canada increased their price target on Guidewire Software from $170.00 to $180.00 and gave the company an outperform rating in a research note on Friday, September 6th. JPMorgan Chase & Co. lifted their price objective on Guidewire Software from $170.00 to $210.00 and gave the stock an overweight rating in a research note on Thursday, October 3rd. Finally, BTIG Research increased their target price on Guidewire Software from $140.00 to $165.00 and gave the company a buy rating in a research report on Friday, August 30th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average target price of $178.62.

Guidewire Software Stock Up 1.3 %

Shares of Guidewire Software stock opened at $185.82 on Friday. The company has a market capitalization of $15.36 billion, a price-to-earnings ratio of -1,428.77 and a beta of 1.19. The stock’s 50-day simple moving average is $161.87 and its 200-day simple moving average is $138.58. Guidewire Software has a 52 week low of $85.15 and a 52 week high of $187.85.

Guidewire Software (NYSE:GWRE) last posted its quarterly earnings results on Thursday, September 5th. The technology company reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $0.08. Guidewire Software had a negative return on equity of 1.29% and a negative net margin of 0.62%. The company had revenue of $291.50 million for the quarter, compared to analysts’ expectations of $283.84 million. During the same period in the previous year, the firm earned $0.30 EPS. The firm’s revenue was up 8.0% compared to the same quarter last year. On average, equities analysts expect that Guidewire Software will post 0.53 earnings per share for the current year.

Insider Buying and Selling at Guidewire Software

In other news, insider John P. Mullen sold 1,350 shares of the firm’s stock in a transaction dated 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 in the company, valued at approximately $20,539,463.63. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider John P. Mullen sold 6,718 shares of Guidewire Software stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $172.16, for a total transaction of $1,156,570.88. Following the completion of the sale, the insider now directly owns 160,099 shares in the company, valued at approximately $27,562,643.84. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 transaction, the insider now owns 137,821 shares in the company, valued at approximately $20,539,463.63. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 52,601 shares of company stock worth $8,984,892 over the last quarter. Insiders own 0.38% of the company’s stock.

Institutional Investors Weigh In On Guidewire Software

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC increased its position in shares of Guidewire Software by 4.0% during the second quarter. Allspring Global Investments Holdings LLC now owns 2,050 shares of the technology company’s stock worth $283,000 after acquiring an additional 79 shares during the period. Vanguard Personalized Indexing Management LLC grew its stake 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 worth $1,252,000 after purchasing an additional 116 shares in the last quarter. CHICAGO TRUST Co NA increased its holdings in Guidewire Software by 4.8% during the 2nd quarter. CHICAGO TRUST Co NA now owns 2,845 shares of the technology company’s stock worth $392,000 after purchasing an additional 130 shares during the period. Legacy Advisors LLC increased its holdings in Guidewire Software by 1.6% during the 2nd 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, Parkside Financial Bank & Trust raised its position in Guidewire Software by 8.0% during the 2nd quarter. Parkside Financial Bank & Trust now owns 2,215 shares of the technology company’s stock valued at $305,000 after purchasing an additional 165 shares in 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.