Guidewire Software (NYSE:GWRE) Price Target Raised to $200.00

Guidewire Software (NYSE:GWRE) had its target price increased by Oppenheimer from $180.00 to $200.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has an “outperform” rating on the technology company’s stock. Oppenheimer’s price target points to a potential upside of 16.28% from the company’s previous close.

Other equities analysts also recently issued research reports about the stock. The Goldman Sachs Group decreased their target price on shares of Guidewire Software from $255.00 to $225.00 and set a “buy” rating for the company in a research note on Friday, June 5th. JPMorgan Chase & Co. reduced their price objective on Guidewire Software from $300.00 to $258.00 and set an “overweight” rating for the company in a research report on Tuesday, July 14th. Royal Bank Of Canada lowered their price objective on Guidewire Software from $250.00 to $215.00 and set an “outperform” rating for the company in a research note on Friday, June 5th. Wells Fargo & Company lowered their price target on Guidewire Software from $210.00 to $190.00 and set an “overweight” rating for the company in a research report on Friday, June 5th. Finally, Zacks Research cut shares of Guidewire Software from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 25th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $221.64.

Guidewire Software Stock Down 2.0%

Shares of GWRE stock traded down $3.60 during mid-day trading on Monday, reaching $172.00. 61,721 shares of the company’s stock traded hands, compared to its average volume of 1,589,999. The company’s 50-day moving average price is $138.77 and its 200-day moving average price is $140.82. The company has a market cap of $14.32 billion, a P/E ratio of 92.95 and a beta of 0.92. The company has a quick ratio of 2.44, a current ratio of 2.44 and a debt-to-equity ratio of 0.51. Guidewire Software has a 12 month low of $102.30 and a 12 month high of $272.60.

Guidewire Software (NYSE:GWRE) last issued its quarterly earnings results on Thursday, June 4th. The technology company reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.08. Guidewire Software had a net margin of 11.25% and a return on equity of 12.62%. The company had revenue of $372.54 million during the quarter, compared to analysts’ expectations of $355.92 million. During the same period last year, the company posted $0.88 EPS. Guidewire Software’s revenue was up 26.9% on a year-over-year basis. On average, equities analysts expect that Guidewire Software will post 1.83 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider James Winston King sold 1,684 shares of Guidewire Software stock in a transaction dated Thursday, July 9th. The stock was sold at an average price of $130.64, for a total value of $219,997.76. Following the completion of the sale, the insider directly owned 30,018 shares in the company, valued at approximately $3,921,551.52. This trade represents a 5.31% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Michael George Rosenbaum sold 5,830 shares of the business’s stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $118.74, for a total value of $692,254.20. Following the completion of the transaction, the chief executive officer directly owned 199,776 shares of the company’s stock, valued at approximately $23,721,402.24. This trade represents a 2.84% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 28,993 shares of company stock worth $3,700,650 over the last three months. Company insiders own 0.46% of the company’s stock.

Institutional Trading of Guidewire Software

Institutional investors have recently made changes to their positions in the stock. Bamco Inc. NY bought a new stake in shares of Guidewire Software in the second quarter worth approximately $1,106,768,000. Bank of America Corp DE purchased a new stake in Guidewire Software in the second quarter worth approximately $85,709,000. American Capital Management Inc. bought a new stake in Guidewire Software in the 2nd quarter worth approximately $40,481,000. Sculptor Capital LP purchased a new stake in Guidewire Software during the 2nd quarter valued at $54,942,000. Finally, Jupiter Topco LLC purchased a new stake in Guidewire Software during the 2nd quarter valued at $35,728,000.

About Guidewire Software

Guidewire Software, Inc develops software products and cloud services for property and casualty (P&C) insurance carriers. Headquartered in San Mateo, California, the company’s offerings are designed to help insurers manage the core functions of their business—policy administration, billing and claims—while supporting digital engagement, analytics and operational modernization.

Guidewire’s core product portfolio is commonly known as the InsuranceSuite, which includes PolicyCenter for policy administration, BillingCenter for billing and receivables, and ClaimCenter for claims management.