Guidewire Software (NYSE:GWRE) Given New $140.00 Price Target at Wells Fargo & Company

Guidewire Software (NYSE:GWRE) had its target price boosted by Wells Fargo & Company from $130.00 to $140.00 in a research report sent to investors on Wednesday morning, Benzinga reports. The firm currently has an overweight rating on the technology company’s stock.

GWRE has been the topic of several other research reports. Oppenheimer raised their price target on Guidewire Software from $130.00 to $140.00 and gave the company an outperform rating in a report on Wednesday. DA Davidson reaffirmed a buy rating and issued a $126.00 target price on shares of Guidewire Software in a research note on Tuesday, March 5th. Citigroup boosted their price target on shares of Guidewire Software from $109.00 to $122.00 and gave the stock a neutral rating in a research note on Tuesday, June 4th. Finally, Robert W. Baird increased their price target on shares of Guidewire Software from $131.00 to $140.00 and gave the stock an outperform rating in a report on Thursday, March 7th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $129.23.

Guidewire Software Stock Performance

Shares of NYSE GWRE opened at $129.98 on Wednesday. The stock has a fifty day moving average of $116.09 and a 200-day moving average of $112.40. The stock has a market cap of $10.74 billion, a PE ratio of -999.77 and a beta of 1.14. Guidewire Software has a fifty-two week low of $68.45 and a fifty-two week high of $132.36.

Guidewire Software (NYSE:GWRE) last issued its quarterly earnings data on Thursday, March 7th. The technology company reported $0.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.22. Guidewire Software had a negative return on equity of 1.19% and a negative net margin of 1.11%. The company had revenue of $240.90 million for the quarter, compared to the consensus estimate of $240.93 million. On average, sell-side analysts predict that Guidewire Software will post -0.42 EPS for the current year.

Insider Activity at Guidewire Software

In other Guidewire Software news, CEO Michael George Rosenbaum sold 4,420 shares of the firm’s stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $111.75, for a total value of $493,935.00. Following the sale, the chief executive officer now owns 245,375 shares of the company’s stock, valued at approximately $27,420,656.25. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Guidewire Software news, CEO Michael George Rosenbaum sold 4,420 shares of the company’s stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $111.75, for a total transaction of $493,935.00. Following the completion of the transaction, the chief executive officer now owns 245,375 shares of the company’s stock, valued at approximately $27,420,656.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John P. Mullen sold 1,350 shares of Guidewire Software stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $111.35, for a total value of $150,322.50. Following the completion of the sale, the insider now owns 148,047 shares in the company, valued at $16,485,033.45. The disclosure for this sale can be found here. Insiders sold 10,785 shares of company stock worth $1,220,087 in the last ninety days. 0.38% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in GWRE. Linonia Partnership LP bought a new stake in shares of Guidewire Software during the 4th quarter valued at about $189,965,000. Invesco Ltd. boosted its position in Guidewire Software by 141.4% during the 3rd quarter. Invesco Ltd. now owns 1,842,564 shares of the technology company’s stock valued at $165,831,000 after acquiring an additional 1,079,268 shares in the last quarter. Massachusetts Financial Services Co. MA bought a new stake in Guidewire Software during the 4th quarter valued at approximately $105,311,000. Norges Bank purchased a new position in shares of Guidewire Software during the 4th quarter worth approximately $97,829,000. Finally, Jacobs Levy Equity Management Inc. raised its position in shares of Guidewire Software by 628.6% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 313,151 shares of the technology company’s stock worth $28,184,000 after acquiring an additional 270,169 shares in the last quarter.

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.