Guidewire Software (NYSE:GWRE) Price Target Increased to $170.00 by Analysts at Oppenheimer

Guidewire Software (NYSE:GWRE) had its price objective lifted by Oppenheimer from $140.00 to $170.00 in a report issued on Tuesday, Benzinga reports. The brokerage currently has an “outperform” rating on the technology company’s stock. Oppenheimer’s price target points to a potential upside of 14.61% from the stock’s current price.

Other equities research analysts also recently issued research reports about the company. The Goldman Sachs Group increased their price target on Guidewire Software from $146.00 to $170.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. Wells Fargo & Company lifted their target price on Guidewire Software from $140.00 to $150.00 and gave the stock an “overweight” rating in a research note on Friday, June 21st. Stifel Nicolaus increased their price target on shares of Guidewire Software from $130.00 to $140.00 and gave the company a “buy” rating in a research report on Wednesday, June 5th. JPMorgan Chase & Co. lifted their price target on shares of Guidewire Software from $133.00 to $145.00 and gave the stock an “overweight” rating in a report on Wednesday, June 5th. Finally, Royal Bank of Canada boosted their target price on Guidewire Software from $130.00 to $170.00 and gave the company an “outperform” rating in a research note on Thursday, June 27th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $139.62.

Guidewire Software Stock Up 0.3 %

GWRE stock opened at $148.33 on Tuesday. The firm has a market cap of $12.26 billion, a price-to-earnings ratio of -1,141.00 and a beta of 1.19. The company’s fifty day simple moving average is $140.83 and its 200 day simple moving average is $124.86. Guidewire Software has a 12-month low of $79.00 and a 12-month high of $153.85.

Guidewire Software (NYSE:GWRE) last posted its quarterly earnings results on Tuesday, June 4th. The technology company reported ($0.09) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.14. Guidewire Software had a negative return on equity of 1.19% and a negative net margin of 1.11%. The business had revenue of $240.68 million for the quarter, compared to the consensus estimate of $231.46 million. Research analysts expect that Guidewire Software will post -0.31 earnings per share for the current year.

Insider Buying and Selling at Guidewire Software

In other news, CEO Michael George Rosenbaum sold 5,582 shares of the firm’s stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $134.54, for a total transaction of $751,002.28. Following the sale, the chief executive officer now owns 239,793 shares of the company’s stock, valued at approximately $32,261,750.22. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, insider John P. Mullen sold 1,350 shares of the firm’s stock in a transaction on Friday, July 19th. The stock was sold at an average price of $139.12, for a total value of $187,812.00. Following the transaction, the insider now directly owns 139,171 shares of the company’s stock, valued at approximately $19,361,469.52. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Michael George Rosenbaum sold 5,582 shares of the business’s stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $134.54, for a total value of $751,002.28. Following the sale, the chief executive officer now directly owns 239,793 shares of the company’s stock, valued at approximately $32,261,750.22. The disclosure for this sale can be found here. In the last ninety days, insiders sold 11,714 shares of company stock worth $1,581,584. 0.38% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Guidewire Software

Several institutional investors have recently bought and sold shares of the stock. Alberta Investment Management Corp boosted its position in Guidewire Software by 11.1% during the 4th quarter. Alberta Investment Management Corp now owns 33,678 shares of the technology company’s stock valued at $3,672,000 after acquiring an additional 3,355 shares in the last quarter. Teca Partners LP boosted its stake in shares of Guidewire Software by 31.1% in the fourth quarter. Teca Partners LP now owns 195,599 shares of the technology company’s stock worth $21,328,000 after acquiring an additional 46,453 shares during the last quarter. Kapitalo Investimentos Ltda acquired a new stake in Guidewire Software during the 4th quarter worth $204,000. Wasatch Advisors LP grew its position in Guidewire Software by 4.2% in the first quarter. Wasatch Advisors LP now owns 2,874,758 shares of the technology company’s stock worth $335,513,000 after acquiring an additional 115,600 shares during the period. Finally, SG Americas Securities LLC acquired a new position in shares of Guidewire Software in the 1st quarter worth approximately $417,000.

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.