Guidewire Software (NYSE:GWRE) Price Target Raised to $215.00

Guidewire Software (NYSE:GWRE) had its price target increased by Wells Fargo & Company from $205.00 to $215.00 in a research report sent to investors on Tuesday morning,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the technology company’s stock.

GWRE has been the subject of several other research reports. BTIG Research increased their target price on Guidewire Software from $140.00 to $165.00 and gave the company a “buy” rating in a research note on Friday, August 30th. DA Davidson reiterated a “buy” rating and set a $168.00 target price on shares of Guidewire Software in a research note on Friday, September 6th. Needham & Company LLC restated a “hold” rating on shares of Guidewire Software in a report on Friday, October 11th. Royal Bank of Canada upped their price objective on shares of Guidewire Software from $180.00 to $215.00 and gave the company an “outperform” rating in a research report on Friday, October 11th. Finally, JPMorgan Chase & Co. lifted their target price on Guidewire Software from $170.00 to $210.00 and gave the stock an “overweight” rating in a research report on Thursday, October 3rd. One analyst has rated the stock with a sell rating, two have given a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $183.69.

Guidewire Software Price Performance

Shares of GWRE stock opened at $200.00 on Tuesday. The firm has a market cap of $16.70 billion, a P/E ratio of -2,499.64, a PEG ratio of 50.80 and a beta of 1.18. Guidewire Software has a fifty-two week low of $95.02 and a fifty-two week high of $201.60. The stock’s 50-day moving average is $185.74 and its two-hundred day moving average is $154.29.

Guidewire Software (NYSE:GWRE) last announced its quarterly 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 net margin of 0.62% and a negative return on equity of 1.29%. The company had revenue of $291.50 million for the quarter, compared to analyst estimates of $283.84 million. During the same quarter in the prior year, the business posted $0.30 EPS. Guidewire Software’s quarterly revenue was up 8.0% on a year-over-year basis. As a group, research analysts expect that Guidewire Software will post 0.53 EPS for the current year.

Insider Transactions at Guidewire Software

In related news, President John P. Mullen sold 1,350 shares of the company’s 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 in the company, valued at $35,773,872.48. This represents a 0.70 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael George Rosenbaum sold 23,379 shares of the business’s 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 completion of the transaction, the chief executive officer now directly owns 287,662 shares of the company’s stock, valued at approximately $49,523,889.92. This represents a 7.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 52,601 shares of company stock valued at $9,116,179. Corporate insiders own 0.48% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of GWRE. Vanguard Group Inc. raised 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 worth $949,430,000 after acquiring an additional 67,439 shares during the last quarter. Acadian Asset Management LLC raised its holdings in Guidewire Software by 91.3% during the 1st quarter. Acadian Asset Management LLC now owns 7,144 shares of the technology company’s stock worth $833,000 after purchasing an additional 3,409 shares during the last quarter. O Shaughnessy Asset Management LLC lifted its position in Guidewire Software by 7.1% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 4,096 shares of the technology company’s stock valued at $478,000 after purchasing an additional 271 shares during the period. Clearbridge Investments LLC boosted its stake in shares of Guidewire Software by 121.0% in the 1st quarter. Clearbridge Investments LLC now owns 295,595 shares of the technology company’s stock valued at $34,499,000 after purchasing an additional 161,856 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co grew its position in shares of Guidewire Software by 2.3% during the 1st 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 during the period.

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.