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

Guidewire Software (NYSE:GWRE) had its price target raised by Oppenheimer from $200.00 to $220.00 in a report published on Tuesday,Benzinga reports. They currently have an outperform rating on the technology company’s stock.

A number of other equities research analysts have also weighed in on the stock. Robert W. Baird upped their target price on shares of Guidewire Software from $204.00 to $220.00 and gave the stock an “outperform” rating in a report on Tuesday. DA Davidson restated a “buy” rating and set a $168.00 price target on shares of Guidewire Software in a research note on Friday, September 6th. JPMorgan Chase & Co. boosted their target price on Guidewire Software from $170.00 to $210.00 and gave the company an “overweight” rating in a research note on Thursday, October 3rd. BTIG Research increased their price target on Guidewire Software from $140.00 to $165.00 and gave the stock a “buy” rating in a research note on Friday, August 30th. Finally, Royal Bank of Canada lifted their price objective on shares of Guidewire Software from $180.00 to $215.00 and gave the company an “outperform” rating in a research note on Friday, October 11th. One analyst has rated the stock with a sell rating, two have given a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $183.69.

Guidewire Software Stock Up 1.4 %

Shares of NYSE GWRE opened at $200.00 on Tuesday. The firm has a fifty day simple moving average of $185.74 and a 200 day simple moving average of $154.29. Guidewire Software has a twelve month low of $95.02 and a twelve month high of $201.60. The company has a market capitalization of $16.70 billion, a PE ratio of -2,499.64, a P/E/G ratio of 50.80 and a beta of 1.18.

Guidewire Software (NYSE:GWRE) last released its earnings results on Thursday, September 5th. The technology company reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.54 by $0.08. The company had revenue of $291.50 million for the quarter, compared to the consensus estimate 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 previous year, the company earned $0.30 EPS. As a group, equities analysts expect that Guidewire Software will post 0.53 earnings per share for the current fiscal year.

Insider Transactions at Guidewire Software

In related news, CEO Michael George Rosenbaum sold 23,379 shares of the firm’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 transaction, the chief executive officer now directly owns 287,662 shares of the company’s stock, valued at approximately $49,523,889.92. This trade represents a 7.52 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider John P. Mullen sold 6,718 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $172.16, for a total value of $1,156,570.88. Following the completion of the sale, the insider now directly owns 160,099 shares of the company’s stock, valued at approximately $27,562,643.84. This represents a 4.03 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 52,601 shares of company stock valued at $9,116,179. 0.48% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Rothschild Investment LLC purchased a new position in shares of Guidewire Software during the second quarter valued at approximately $31,000. Assetmark Inc. lifted its stake in shares of Guidewire Software by 537.0% in the third quarter. Assetmark Inc. now owns 172 shares of the technology company’s stock worth $31,000 after buying an additional 145 shares in the last quarter. Point72 Hong Kong Ltd purchased a new position in shares of Guidewire Software in the third quarter worth $33,000. Lynx Investment Advisory bought a new position in Guidewire Software during the 2nd quarter valued at about $41,000. Finally, DT Investment Partners LLC bought a new stake in Guidewire Software in the 2nd quarter worth approximately $41,000.

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.