Guidewire Software (NYSE:GWRE) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Guidewire Software (NYSE:GWRE) had its price target boosted by investment analysts at Wells Fargo & Company from $205.00 to $215.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has an “overweight” rating on the technology company’s stock. Wells Fargo & Company‘s price objective suggests a potential upside of 9.01% from the company’s previous close.

A number of other equities research analysts have also recently issued reports on GWRE. Needham & Company LLC reiterated a “hold” rating on shares of Guidewire Software in a research report on Friday, October 11th. Oppenheimer increased their target price on shares of Guidewire Software from $200.00 to $220.00 and gave the stock an “outperform” rating in a research report on Tuesday. Citigroup increased their target price on shares of Guidewire Software from $123.00 to $165.00 and gave the stock a “neutral” rating in a research report on Monday, September 9th. JPMorgan Chase & Co. increased their price objective on shares of Guidewire Software from $170.00 to $210.00 and gave the stock an “overweight” rating in a report on Thursday, October 3rd. Finally, JMP Securities increased their price objective on shares of Guidewire Software from $179.00 to $200.00 and gave the stock a “market outperform” rating in a report on Friday, October 11th. One research analyst has rated the stock with a sell rating, two have given a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $183.69.

Guidewire Software Stock Performance

Shares of GWRE stock opened at $197.23 on Tuesday. Guidewire Software has a 52-week low of $95.02 and a 52-week high of $199.33. The stock has a market cap of $16.47 billion, a price-to-earnings ratio of -2,465.38, a P/E/G ratio of 49.72 and a beta of 1.18. The firm has a fifty day moving average of $185.13 and a 200-day moving average of $153.97.

Guidewire Software (NYSE:GWRE) last announced its earnings results on Thursday, September 5th. The technology company reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.54 by $0.08. The business 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%. The firm’s revenue for the quarter was up 8.0% on a year-over-year basis. During the same quarter last year, the company posted $0.30 EPS. On average, sell-side analysts predict that Guidewire Software will post 0.53 earnings per share for the current year.

Insider Activity

In other Guidewire Software news, insider James Winston King sold 4,514 shares of the firm’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $172.66, for a total transaction of $779,387.24. Following the sale, the insider now directly owns 48,237 shares in the company, valued at approximately $8,328,600.42. This trade represents a 8.56 % 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 firm’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 transaction of $1,156,570.88. Following the sale, the insider now owns 160,099 shares in the company, valued at $27,562,643.84. This trade represents a 4.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 52,601 shares of company stock valued at $9,116,179. 0.48% of the stock is currently owned by insiders.

Institutional Trading of Guidewire Software

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in shares of Guidewire Software by 0.8% in the first 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 during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of Guidewire Software by 24.7% in the third quarter. Massachusetts Financial Services Co. MA now owns 3,426,907 shares of the technology company’s stock valued at $626,918,000 after purchasing an additional 679,558 shares during the last quarter. Linonia Partnership LP raised its holdings in shares of Guidewire Software by 8.4% in the second quarter. Linonia Partnership LP now owns 2,395,601 shares of the technology company’s stock valued at $330,329,000 after purchasing an additional 185,077 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Guidewire Software by 0.5% in the third quarter. Geode Capital Management LLC now owns 1,330,074 shares of the technology company’s stock valued at $243,580,000 after purchasing an additional 6,223 shares during the last quarter. Finally, Whale Rock Capital Management LLC raised its holdings in shares of Guidewire Software by 23.4% in the first quarter. Whale Rock Capital Management LLC now owns 1,270,870 shares of the technology company’s stock valued at $148,323,000 after purchasing an additional 240,622 shares during 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.