Guidewire Software (NYSE:GWRE) PT Raised to $170.00 at Oppenheimer

Guidewire Software (NYSE:GWRE) had its target price hoisted by Oppenheimer from $140.00 to $170.00 in a report released on Tuesday, Benzinga reports. The firm currently has an “outperform” rating on the technology company’s stock. Oppenheimer’s price target indicates a potential upside of 14.69% from the stock’s previous close.

Other research analysts also recently issued reports about the stock. BTIG Research lifted their target price on shares of Guidewire Software from $135.00 to $140.00 and gave the stock a “buy” rating in a research report on Wednesday, June 5th. Citigroup lifted their target price on shares of Guidewire Software from $109.00 to $122.00 and gave the stock a “neutral” rating in a research report on Tuesday, June 4th. Stifel Nicolaus lifted their target price on shares of Guidewire Software from $130.00 to $140.00 and gave the stock a “buy” rating in a research report on Wednesday, June 5th. Bank of America boosted their price objective on shares of Guidewire Software from $80.00 to $95.00 and gave the company an “underperform” rating in a research report on Wednesday, June 5th. Finally, Wells Fargo & Company boosted their price objective on shares of Guidewire Software from $140.00 to $150.00 and gave the company an “overweight” rating in a research report on Friday, June 21st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, Guidewire Software presently has an average rating of “Moderate Buy” and a consensus target price of $141.54.

Guidewire Software Price Performance

NYSE GWRE opened at $148.22 on Tuesday. The company’s 50 day simple moving average is $141.37 and its 200 day simple moving average is $125.35. Guidewire Software has a 12 month low of $79.32 and a 12 month high of $153.85. The company has a market capitalization of $12.25 billion, a P/E ratio of -1,140.15 and a beta of 1.19.

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

Insider Activity at Guidewire Software

In related news, insider John P. Mullen sold 1,350 shares of the company’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $149.03, for a total transaction of $201,190.50. Following the completion of the transaction, the insider now directly owns 137,821 shares in the company, valued at approximately $20,539,463.63. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Guidewire Software news, CFO Jeffrey Elliott Cooper sold 1,765 shares of the business’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $134.20, for a total value of $236,863.00. Following the sale, the chief financial officer now owns 61,714 shares of the company’s stock, valued at approximately $8,282,018.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider John P. Mullen sold 1,350 shares of the business’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $149.03, for a total transaction of $201,190.50. Following the completion of the sale, the insider now directly owns 137,821 shares in the company, valued at approximately $20,539,463.63. The disclosure for this sale can be found here. Insiders sold a total of 13,064 shares of company stock worth $1,782,775 in the last ninety days. 0.38% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Guidewire Software

Several institutional investors and hedge funds have recently bought and sold shares of GWRE. International Assets Investment Management LLC bought a new stake in Guidewire Software in the 4th quarter valued at $17,240,000. Allspring Global Investments Holdings LLC grew its holdings in shares of Guidewire Software by 13.9% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 2,895 shares of the technology company’s stock worth $316,000 after purchasing an additional 354 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Guidewire Software by 8.2% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,842 shares of the technology company’s stock worth $1,836,000 after purchasing an additional 1,276 shares during the last quarter. Federated Hermes Inc. grew its holdings in shares of Guidewire Software by 0.4% in the 4th quarter. Federated Hermes Inc. now owns 124,103 shares of the technology company’s stock worth $13,532,000 after purchasing an additional 454 shares during the last quarter. Finally, Lindbrook Capital LLC grew its holdings in shares of Guidewire Software by 45.7% in the 4th quarter. Lindbrook Capital LLC now owns 421 shares of the technology company’s stock worth $46,000 after purchasing an additional 132 shares during the last quarter.

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.