Guidewire Software’s (GWRE) Outperform Rating Reaffirmed at Royal Bank of Canada

Royal Bank of Canada reissued their outperform rating on shares of Guidewire Software (NYSE:GWRE) in a research report report published on Tuesday morning,Benzinga reports. The firm currently has a $215.00 target price on the technology company’s stock.

Other equities analysts also recently issued reports about the company. BTIG Research raised their price objective on Guidewire Software from $140.00 to $165.00 and gave the stock a “buy” rating in a report on Friday, August 30th. Citigroup lifted their price target on shares of Guidewire Software from $123.00 to $165.00 and gave the company a “neutral” rating in a research report on Monday, September 9th. Robert W. Baird increased their price objective on shares of Guidewire Software from $204.00 to $220.00 and gave the stock an “outperform” rating in a research report on Tuesday. JMP Securities lifted their target price on shares of Guidewire Software from $179.00 to $200.00 and gave the company a “market outperform” rating in a report on Friday, October 11th. Finally, Wells Fargo & Company increased their price target on Guidewire Software from $205.00 to $215.00 and gave the company an “overweight” rating in a report on Tuesday. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $183.69.

Guidewire Software Trading Up 1.2 %

Guidewire Software stock opened at $196.35 on Tuesday. The firm has a market capitalization of $16.40 billion, a P/E ratio of -2,454.01, a PEG ratio of 49.72 and a beta of 1.18. The stock has a fifty day moving average price of $184.55 and a 200 day moving average price of $153.67. Guidewire Software has a 52 week low of $95.02 and a 52 week high of $199.33.

Guidewire Software (NYSE:GWRE) last released its earnings results on Thursday, September 5th. The technology company reported $0.62 EPS for the quarter, beating the consensus estimate of $0.54 by $0.08. The firm had revenue of $291.50 million during the quarter, compared to analyst estimates of $283.84 million. Guidewire Software had a negative return on equity of 1.29% and a negative net margin of 0.62%. The business’s quarterly revenue was up 8.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.30 earnings per share. As a group, equities analysts predict that Guidewire Software will post 0.53 EPS for the current year.

Insider Activity

In other news, President John P. Mullen sold 1,350 shares of the stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $187.68, for a total transaction of $253,368.00. Following the transaction, the president now owns 190,611 shares of the company’s stock, valued at approximately $35,773,872.48. This trade represents a 0.70 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 transaction of $4,024,928.64. Following the transaction, the chief executive officer now directly owns 287,662 shares in the company, valued at $49,523,889.92. The trade was a 7.52 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 51,251 shares of company stock worth $8,849,257. 0.48% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Guidewire Software

Several large investors have recently modified their holdings of GWRE. Rothschild Investment LLC bought a new position in shares of Guidewire Software during the second quarter worth about $31,000. Assetmark Inc. lifted 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 purchasing an additional 145 shares during the last quarter. Point72 Hong Kong Ltd bought a new position in shares of Guidewire Software during the third quarter worth about $33,000. Lynx Investment Advisory bought a new position in Guidewire Software in the second quarter worth about $41,000. Finally, DT Investment Partners LLC bought a new position in Guidewire Software in the second quarter worth about $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.