Guidewire Software (NYSE:GWRE) Given New $180.00 Price Target at Royal Bank of Canada

Guidewire Software (NYSE:GWRE) had its price target hoisted by Royal Bank of Canada from $170.00 to $180.00 in a report released on Friday, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the technology company’s stock.

GWRE has been the subject of a number of other reports. Robert W. Baird raised their price objective on shares of Guidewire Software from $152.00 to $165.00 and gave the company an outperform rating in a research report on Tuesday. Oppenheimer raised their price target on shares of Guidewire Software from $170.00 to $185.00 and gave the company an outperform rating in a report on Friday. Citigroup upped their price target on shares of Guidewire Software from $109.00 to $122.00 and gave the stock a neutral rating in a report on Tuesday, June 4th. BTIG Research lifted their price objective on Guidewire Software from $140.00 to $165.00 and gave the company a buy rating in a research note on Friday, August 30th. Finally, The Goldman Sachs Group boosted their target price on Guidewire Software from $146.00 to $170.00 and gave the stock a buy rating in a research report on Monday, July 22nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $158.38.

Guidewire Software Price Performance

NYSE:GWRE opened at $161.71 on Friday. The company has a market cap of $13.37 billion, a P/E ratio of -1,243.92 and a beta of 1.19. Guidewire Software has a 1 year low of $83.91 and a 1 year high of $171.74. The stock’s fifty day moving average price is $144.64 and its two-hundred day moving average price is $128.04.

Guidewire Software (NYSE:GWRE) last issued its quarterly earnings data 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 return on equity of 1.19% and a negative net margin of 1.11%. The business had revenue of $291.50 million for the quarter, compared to analysts’ expectations of $283.84 million. During the same quarter in the prior year, the firm posted $0.30 EPS. The firm’s quarterly revenue was up 8.0% on a year-over-year basis. On average, analysts expect that Guidewire Software will post -0.31 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Guidewire Software news, insider John P. Mullen sold 1,350 shares of the stock in a transaction that occurred 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 transaction, the insider now directly owns 137,821 shares in the company, valued at $20,539,463.63. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Guidewire Software news, insider John P. Mullen sold 1,350 shares of the business’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $149.03, for a total value of $201,190.50. Following the completion of the sale, the insider now owns 137,821 shares in the company, valued at $20,539,463.63. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Jeffrey Elliott Cooper sold 3,017 shares of the firm’s stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $134.54, for a total transaction of $405,907.18. Following the completion of the transaction, the chief financial officer now owns 63,479 shares in the company, valued at approximately $8,540,464.66. The disclosure for this sale can be found here. Insiders sold 13,064 shares of company stock worth $1,782,775 in the last quarter. 0.38% of the stock is owned by insiders.

Hedge Funds Weigh In On Guidewire Software

Several hedge funds and other institutional investors have recently modified their holdings of the company. Truist Financial Corp increased its holdings in Guidewire Software by 10.9% during the 4th quarter. Truist Financial Corp now owns 7,215 shares of the technology company’s stock valued at $787,000 after purchasing an additional 709 shares during the period. Amalgamated Bank raised its holdings in shares of Guidewire Software by 34.4% during the fourth quarter. Amalgamated Bank now owns 17,151 shares of the technology company’s stock valued at $1,870,000 after acquiring an additional 4,390 shares in the last quarter. Benjamin F. Edwards & Company Inc. bought a new position in shares of Guidewire Software during the fourth quarter valued at approximately $134,000. Charles Schwab Investment Management Inc. lifted its stake in Guidewire Software by 1.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 513,104 shares of the technology company’s stock worth $55,949,000 after acquiring an additional 5,949 shares during the period. Finally, AGF Management Ltd. bought a new stake in Guidewire Software in the fourth quarter valued at $3,189,000.

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.