Guidewire Software (NYSE:GWRE) Rating Reiterated by Oppenheimer

Guidewire Software (NYSE:GWRE)‘s stock had its “outperform” rating reaffirmed by Oppenheimer in a report released on Friday, Benzinga reports. They currently have a $200.00 price target on the technology company’s stock, up from their prior price target of $185.00. Oppenheimer’s target price would suggest a potential upside of 7.63% from the company’s previous close.

GWRE has been the topic of several other research reports. Wells Fargo & Company lifted their target price on shares of Guidewire Software from $200.00 to $205.00 and gave the company an “overweight” rating in a report on Friday. Needham & Company LLC reaffirmed a “hold” rating on shares of Guidewire Software in a report on Friday. Royal Bank of Canada lifted their target price on shares of Guidewire Software from $170.00 to $180.00 and gave the company an “outperform” rating in a report on Friday, September 6th. DA Davidson reaffirmed a “buy” rating and issued a $168.00 target price on shares of Guidewire Software in a report on Friday, September 6th. Finally, The Goldman Sachs Group lifted their target price on shares of Guidewire Software from $146.00 to $170.00 and gave the company a “buy” rating in a report on Monday, July 22nd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, Guidewire Software presently has an average rating of “Moderate Buy” and a consensus target price of $178.62.

Guidewire Software Price Performance

Shares of NYSE:GWRE opened at $185.82 on Friday. The stock has a market cap of $15.36 billion, a P/E ratio of -1,429.38 and a beta of 1.19. The firm has a fifty day moving average price of $161.87 and a 200 day moving average price of $138.74. Guidewire Software has a 1-year low of $85.15 and a 1-year high of $187.85.

Guidewire Software (NYSE:GWRE) last issued its quarterly earnings results on Thursday, September 5th. The technology company reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.54 by $0.08. The firm had revenue of $291.50 million during 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%. Guidewire Software’s quarterly revenue was up 8.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.30 EPS. Sell-side analysts expect that Guidewire Software will post 0.53 EPS for the current fiscal year.

Insider Activity

In other news, insider John P. Mullen sold 1,350 shares of the business’s stock in a transaction that occurred 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 transaction, the insider now owns 137,821 shares of the company’s stock, valued at $20,539,463.63. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CEO Michael George Rosenbaum sold 23,379 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $172.16, for a total transaction of $4,024,928.64. Following the completion of the transaction, the chief executive officer now owns 287,662 shares of the company’s stock, valued at approximately $49,523,889.92. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider John P. Mullen sold 1,350 shares of the company’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $149.03, for a total transaction of $201,190.50. Following the transaction, the insider now directly owns 137,821 shares of the company’s stock, valued at $20,539,463.63. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 52,601 shares of company stock valued at $8,984,892 over the last 90 days. Insiders own 0.38% of the company’s stock.

Hedge Funds Weigh In On Guidewire Software

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Creative Planning grew its stake in Guidewire Software by 16.0% during the third quarter. Creative Planning now owns 15,331 shares of the technology company’s stock worth $2,805,000 after buying an additional 2,120 shares during the period. Sapient Capital LLC purchased a new position in shares of Guidewire Software in the third quarter valued at $1,625,000. CHICAGO TRUST Co NA boosted its stake in shares of Guidewire Software by 12.5% in the third quarter. CHICAGO TRUST Co NA now owns 3,200 shares of the technology company’s stock valued at $585,000 after purchasing an additional 355 shares during the period. Westwind Capital purchased a new position in shares of Guidewire Software in the third quarter valued at $13,765,000. Finally, Wedmont Private Capital boosted its stake in shares of Guidewire Software by 43.9% in the third quarter. Wedmont Private Capital now owns 2,157 shares of the technology company’s stock valued at $393,000 after purchasing an additional 658 shares during the period.

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.