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

Guidewire Software (NYSE:GWRE) had its price target lifted by Robert W. Baird from $204.00 to $220.00 in a research note issued to investors on Tuesday,Benzinga reports. They currently have an outperform rating on the technology company’s stock.

Other equities analysts have also recently issued reports about the company. Needham & Company LLC reaffirmed a “hold” rating on shares of Guidewire Software in a report on Friday, October 11th. JMP Securities boosted their price target on Guidewire Software from $179.00 to $200.00 and gave the company a “market outperform” rating in a research note on Friday, October 11th. Royal Bank of Canada upped their price objective on shares of Guidewire Software from $180.00 to $215.00 and gave the stock an “outperform” rating in a research report on Friday, October 11th. Oppenheimer reissued an “outperform” rating and issued a $200.00 target price (up from $185.00) on shares of Guidewire Software in a report on Friday, October 11th. Finally, BTIG Research boosted their target price on shares of Guidewire Software from $140.00 to $165.00 and gave the company a “buy” rating in a research report on Friday, August 30th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $183.69.

Guidewire Software Stock Performance

NYSE:GWRE opened at $202.77 on Tuesday. Guidewire Software has a 52 week low of $95.02 and a 52 week high of $202.99. The firm’s 50-day simple moving average is $185.74 and its 200 day simple moving average is $154.29. The firm has a market cap of $16.94 billion, a price-to-earnings ratio of -2,534.93, a P/E/G ratio of 50.80 and a beta of 1.18.

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. Guidewire Software had a negative net margin of 0.62% and a negative return on equity of 1.29%. The firm had revenue of $291.50 million for the quarter, compared to analyst estimates of $283.84 million. During the same quarter in the prior year, the business posted $0.30 EPS. The business’s revenue was up 8.0% compared to the same quarter last year. Sell-side analysts anticipate that Guidewire Software will post 0.53 EPS for the current year.

Insider Activity at Guidewire Software

In other news, CEO Michael George Rosenbaum sold 23,379 shares of Guidewire Software 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 sale, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Jeffrey Elliott Cooper sold 10,334 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 value of $1,779,101.44. Following the completion of the transaction, the chief financial officer now directly owns 83,367 shares of the company’s stock, valued at $14,352,462.72. This represents a 11.03 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 52,601 shares of company stock valued at $9,116,179 in the last quarter. Insiders own 0.48% of the company’s stock.

Hedge Funds Weigh In On Guidewire Software

Hedge funds have recently modified their holdings of the business. Assetmark Inc. raised its position in shares of Guidewire Software by 537.0% during the third quarter. Assetmark Inc. now owns 172 shares of the technology company’s stock worth $31,000 after acquiring an additional 145 shares during the last quarter. Point72 Hong Kong Ltd bought a new position in Guidewire Software during the 3rd quarter worth approximately $33,000. Rothschild Investment LLC acquired a new position in shares of Guidewire Software in the 2nd quarter worth approximately $31,000. Brooklyn Investment Group acquired a new position in shares of Guidewire Software in the 3rd quarter worth approximately $42,000. Finally, DT Investment Partners LLC bought a new stake in shares of Guidewire Software in the 2nd quarter valued at $41,000.

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.