JMP Securities Boosts Guidewire Software (NYSE:GWRE) Price Target to $231.00

Guidewire Software (NYSE:GWRE) had its target price hoisted by JMP Securities from $200.00 to $231.00 in a research note published on Monday,Benzinga reports. They currently have a market outperform rating on the technology company’s stock.

Other equities analysts have also recently issued research reports about the stock. JPMorgan Chase & Co. lifted their target price on shares of Guidewire Software from $170.00 to $210.00 and gave the stock an “overweight” rating in a research report on Thursday, October 3rd. BTIG Research boosted their price objective 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. Royal Bank of Canada reissued an “outperform” rating and issued a $215.00 price objective on shares of Guidewire Software in a research report on Tuesday, November 19th. Robert W. Baird boosted their price objective on shares of Guidewire Software from $204.00 to $220.00 and gave the company an “outperform” rating in a research report on Tuesday, November 19th. Finally, DA Davidson reissued a “buy” rating and issued a $168.00 price objective on shares of Guidewire Software in a research report on Friday, September 6th. 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.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $186.08.

Guidewire Software Trading Down 1.3 %

GWRE stock opened at $201.88 on Monday. The company has a market cap of $16.86 billion, a P/E ratio of -2,523.18, a P/E/G ratio of 52.54 and a beta of 1.18. Guidewire Software has a 52 week low of $95.02 and a 52 week high of $207.10. The company’s 50-day moving average price is $188.18 and its 200 day moving average price is $156.97.

Guidewire Software (NYSE:GWRE) last released its quarterly earnings data on Thursday, September 5th. The technology company reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $0.08. The firm had revenue of $291.50 million for the quarter, compared to the consensus estimate 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 was up 8.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.30 earnings per share. On average, equities research analysts expect that Guidewire Software will post 0.53 earnings per share for the current year.

Insider Buying and Selling

In other news, CFO Jeffrey Elliott Cooper sold 10,334 shares of Guidewire Software 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 transaction, the chief financial officer now owns 83,367 shares of the company’s stock, valued at $14,352,462.72. The trade was a 11.03 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Michael George Rosenbaum sold 23,379 shares of Guidewire Software 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 $4,024,928.64. Following the completion of the transaction, the chief executive officer now directly owns 287,662 shares in the company, valued at $49,523,889.92. This represents a 7.52 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 52,601 shares of company stock valued at $9,116,179 in the last quarter. Company insiders own 0.48% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in GWRE. Massachusetts Financial Services Co. MA boosted its holdings in shares of Guidewire Software by 24.7% during the third quarter. Massachusetts Financial Services Co. MA now owns 3,426,907 shares of the technology company’s stock worth $626,918,000 after purchasing an additional 679,558 shares during the period. International Assets Investment Management LLC lifted its stake in Guidewire Software by 18,001.5% in the third quarter. International Assets Investment Management LLC now owns 258,128 shares of the technology company’s stock valued at $472,220,000 after acquiring an additional 256,702 shares during the last quarter. Teca Partners LP acquired a new stake in Guidewire Software in the second quarter valued at approximately $25,893,000. Linonia Partnership LP lifted its stake in 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 acquiring an additional 185,077 shares during the last quarter. Finally, Great Lakes Advisors LLC acquired a new stake in Guidewire Software in the second quarter valued at approximately $22,318,000.

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.