Royal Bank of Canada Reiterates Outperform Rating for Guidewire Software (NYSE:GWRE)

Guidewire Software (NYSE:GWRE)‘s stock had its “outperform” rating reissued by analysts at Royal Bank of Canada in a research note issued to investors on Tuesday,Benzinga reports. They currently have a $215.00 price target on the technology company’s stock. Royal Bank of Canada’s target price would indicate a potential upside of 9.01% from the company’s previous close.

Several other equities research analysts have also recently weighed in on the company. Needham & Company LLC reiterated a “hold” rating on shares of Guidewire Software in a report on Friday, October 11th. JPMorgan Chase & Co. upped their target price on Guidewire Software from $170.00 to $210.00 and gave the stock an “overweight” rating in a report on Thursday, October 3rd. Stifel Nicolaus boosted their price target on Guidewire Software from $200.00 to $220.00 and gave the stock a “buy” rating in a research report on Tuesday. Citigroup boosted their price target on Guidewire Software from $123.00 to $165.00 and gave the stock a “neutral” rating in a research report on Monday, September 9th. Finally, Robert W. Baird boosted their price target on Guidewire Software from $204.00 to $220.00 and gave the stock an “outperform” rating in a research report on Tuesday. One equities 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 company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $183.69.

Guidewire Software Stock Up 0.4 %

GWRE opened at $197.23 on Tuesday. The business has a fifty day moving average of $185.13 and a 200 day moving average of $153.97. 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 P/E ratio of -2,465.38, a PEG ratio of 49.72 and a beta of 1.18.

Guidewire Software (NYSE:GWRE) last posted its quarterly earnings data 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. Guidewire Software had a negative return on equity of 1.29% and a negative net margin of 0.62%. The company had revenue of $291.50 million during the quarter, compared to analysts’ expectations of $283.84 million. During the same quarter in the previous year, the business earned $0.30 EPS. Guidewire Software’s revenue was up 8.0% compared to the same quarter last year. Equities analysts anticipate that Guidewire Software will post 0.53 EPS for the current fiscal year.

Insider Activity at Guidewire Software

In other news, CEO Michael George Rosenbaum sold 23,379 shares of the stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $172.16, for a total value 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 represents a 7.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John P. Mullen sold 6,718 shares of the company’s stock in a transaction dated 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 owns 160,099 shares in the company, valued at $27,562,643.84. The trade was a 4.03 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 52,601 shares of company stock valued at $9,116,179 in the last ninety days. Corporate insiders own 0.48% of the company’s stock.

Institutional Trading of Guidewire Software

A number of hedge funds have recently modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Guidewire Software by 21.1% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 345 shares of the technology company’s stock worth $63,000 after buying an additional 60 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in Guidewire Software by 4.0% during the second quarter. Allspring Global Investments Holdings LLC now owns 2,050 shares of the technology company’s stock worth $283,000 after purchasing an additional 79 shares in the last quarter. CIBC Asset Management Inc boosted its position in Guidewire Software by 3.7% during the third quarter. CIBC Asset Management Inc now owns 2,451 shares of the technology company’s stock worth $448,000 after purchasing an additional 87 shares in the last quarter. Vanguard Personalized Indexing Management LLC boosted its position in Guidewire Software by 1.3% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 9,078 shares of the technology company’s stock worth $1,252,000 after purchasing an additional 116 shares in the last quarter. Finally, CHICAGO TRUST Co NA boosted its position in Guidewire Software by 4.8% during the second quarter. CHICAGO TRUST Co NA now owns 2,845 shares of the technology company’s stock worth $392,000 after purchasing an additional 130 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.