Oppenheimer Issues Positive Forecast for Guidewire Software (NYSE:GWRE) Stock Price

Guidewire Software (NYSE:GWRE) had its price target upped by stock analysts at Oppenheimer from $200.00 to $220.00 in a report released on Tuesday,Benzinga reports. The firm presently has an “outperform” rating on the technology company’s stock. Oppenheimer’s price objective would suggest a potential upside of 13.40% from the company’s current price.

A number of other equities analysts have also recently issued reports on GWRE. JMP Securities upped their price objective on Guidewire Software from $179.00 to $200.00 and gave the stock a “market outperform” rating in a report on Friday, October 11th. BTIG Research upped 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. Robert W. Baird upped their price objective on Guidewire Software from $204.00 to $220.00 and gave the stock an “outperform” rating in a report on Tuesday. JPMorgan Chase & Co. upped their price objective on Guidewire Software from $170.00 to $210.00 and gave the stock an “overweight” rating in a report on Thursday, October 3rd. Finally, The Goldman Sachs Group upped their price objective on Guidewire Software from $146.00 to $170.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, Guidewire Software presently has a consensus rating of “Moderate Buy” and an average price target of $181.38.

Guidewire Software Stock Up 0.9 %

Guidewire Software stock opened at $194.00 on Tuesday. Guidewire Software has a 52 week low of $95.02 and a 52 week high of $199.33. The business has a 50-day simple moving average of $183.97 and a 200 day simple moving average of $153.09. The stock has a market cap of $16.20 billion, a price-to-earnings ratio of -2,424.70, a PEG ratio of 49.72 and a beta of 1.18.

Guidewire Software (NYSE:GWRE) last posted its earnings results on Thursday, September 5th. The technology company reported $0.62 EPS for the quarter, topping the consensus estimate of $0.54 by $0.08. Guidewire Software had a negative return on equity of 1.29% and a negative net margin of 0.62%. The business had revenue of $291.50 million during the quarter, compared to analysts’ expectations of $283.84 million. During the same period in the previous year, the business earned $0.30 earnings per share. The firm’s revenue was up 8.0% on a year-over-year basis. On average, research analysts anticipate that Guidewire Software will post 0.53 earnings per share for the current year.

Insider Transactions at Guidewire Software

In other news, insider John P. Mullen sold 6,718 shares of the firm’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $172.16, for a total value of $1,156,570.88. Following the transaction, the insider now directly owns 160,099 shares in the company, valued at $27,562,643.84. This trade represents a 4.03 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider James Winston King sold 4,514 shares of the firm’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $172.66, for a total value of $779,387.24. Following the completion of the transaction, the insider now owns 48,237 shares in the company, valued at approximately $8,328,600.42. This trade represents a 8.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 51,251 shares of company stock valued at $8,849,257. Corporate insiders own 0.48% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of GWRE. Vanguard Group Inc. boosted its position in shares of Guidewire Software by 0.8% during the first quarter. Vanguard Group Inc. now owns 8,134,952 shares of the technology company’s stock valued at $949,430,000 after buying an additional 67,439 shares during the period. Acadian Asset Management LLC raised its stake in Guidewire Software by 91.3% in the first quarter. Acadian Asset Management LLC now owns 7,144 shares of the technology company’s stock worth $833,000 after buying an additional 3,409 shares in the last quarter. O Shaughnessy Asset Management LLC raised its stake in Guidewire Software by 7.1% in the first quarter. O Shaughnessy Asset Management LLC now owns 4,096 shares of the technology company’s stock worth $478,000 after buying an additional 271 shares in the last quarter. Clearbridge Investments LLC raised its stake in Guidewire Software by 121.0% in the first quarter. Clearbridge Investments LLC now owns 295,595 shares of the technology company’s stock worth $34,499,000 after buying an additional 161,856 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co raised its stake in Guidewire Software by 2.3% in the first quarter. CANADA LIFE ASSURANCE Co now owns 27,453 shares of the technology company’s stock worth $3,208,000 after buying an additional 619 shares in 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.