JMP Securities Increases Guidewire Software (NYSE:GWRE) Price Target to $200.00

Guidewire Software (NYSE:GWRE) had its target price upped by JMP Securities from $179.00 to $200.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage currently has a “market outperform” rating on the technology company’s stock. JMP Securities’ price objective would suggest a potential upside of 7.63% from the company’s previous close.

GWRE has been the topic of several other research reports. Oppenheimer restated an “outperform” rating and set a $200.00 target price (up previously from $185.00) on shares of Guidewire Software in a report on Friday. Needham & Company LLC restated a “hold” rating on shares of Guidewire Software in a research report on Friday. Wells Fargo & Company upped their target price on shares of Guidewire Software from $200.00 to $205.00 and gave the stock an “overweight” rating in a research report on Friday. Stifel Nicolaus raised their price target on shares of Guidewire Software from $175.00 to $200.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Finally, Citigroup upped their price objective on Guidewire Software from $123.00 to $165.00 and gave the stock a “neutral” rating in a report on Monday, September 9th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $178.62.

Guidewire Software Stock Performance

GWRE opened at $185.82 on Friday. Guidewire Software has a twelve month low of $85.15 and a twelve month high of $187.85. The firm has a market cap of $15.36 billion, a price-to-earnings ratio of -1,429.38 and a beta of 1.19. The firm’s 50-day simple moving average is $161.87 and its 200-day simple moving average is $138.74.

Guidewire Software (NYSE:GWRE) last posted 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 company had revenue of $291.50 million during the quarter, compared to analyst estimates 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 revenue was up 8.0% on a year-over-year basis. During the same quarter last year, the business posted $0.30 earnings per share. As a group, sell-side analysts anticipate that Guidewire Software will post 0.53 EPS for the current fiscal year.

Insider Buying and Selling at Guidewire Software

In other news, CFO Jeffrey Elliott Cooper sold 4,956 shares of the company’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $172.70, for a total value of $855,901.20. Following the completion of the sale, the chief financial officer now directly owns 78,411 shares of the company’s stock, valued at $13,541,579.70. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CFO Jeffrey Elliott Cooper sold 4,956 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $172.70, for a total transaction of $855,901.20. Following the completion of the transaction, the chief financial officer now owns 78,411 shares in the company, valued at approximately $13,541,579.70. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 sale, the chief executive officer now directly owns 287,662 shares of the company’s stock, valued at $49,523,889.92. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 52,601 shares of company stock valued at $8,984,892. 0.38% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in shares of Guidewire Software by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 8,134,952 shares of the technology company’s stock valued at $949,430,000 after purchasing an additional 67,439 shares in the last quarter. Wasatch Advisors LP boosted its holdings in shares of Guidewire Software by 4.2% in the first quarter. Wasatch Advisors LP now owns 2,874,758 shares of the technology company’s stock valued at $335,513,000 after buying an additional 115,600 shares during the period. Massachusetts Financial Services Co. MA increased its position in shares of Guidewire Software by 23.2% during the second quarter. Massachusetts Financial Services Co. MA now owns 2,747,349 shares of the technology company’s stock worth $378,832,000 after acquiring an additional 516,942 shares in the last quarter. Linonia Partnership LP boosted its position in shares of Guidewire Software by 8.4% during the second quarter. Linonia Partnership LP now owns 2,395,601 shares of the technology company’s stock worth $330,329,000 after buying an additional 185,077 shares during the period. Finally, Whale Rock Capital Management LLC grew its holdings in shares of Guidewire Software by 23.4% during the first 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 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.