Guidewire Software (NYSE:GWRE – Free Report) The price target was raised by Oppenheimer from $200.00 to $220.00 in a research note published on Tuesday, Benzinga reports. The brokerage currently has an outperform rating on the tech company’s stock.
A number of other stock analysts have also weighed in on GWRE recently. Royal Bank of Canada raised their price target on shares of Guidewire Software from $180.00 to $215.00 and gave the stock an “outperform” rating in a research note on Friday, October 11th. DA Davidson reiterated a “buy” rating and set a $168.00 target price on shares of Guidewire Software in a research report on Friday, September 6. Robert W. Baird raised his price target on Guidewire Software from $204.00 to $220.00 and gave the stock an “outperform” rating in a research note on Tuesday. Goldman Sachs Group raised their price objective on Guidewire Software from $146.00 to $170.00 and gave the company a “buy” rating in a research note on Monday, July 22. Finally, Citigroup raised their price target on Guidewire Software from $123.00 to $165.00 and gave the stock a “neutral” rating in a research report on Monday, September 9th. One 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $183.69.
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Guidewire software rises 1.5%
Shares of GWRE stock opened at $202.77 on Tuesday. Guidewire Software has a 12-month low of $95.02 and a 12-month high of $202.99. The company’s 50-day moving average is $185.74 and its two-hundred-day moving average is $154.29. The company has a market cap of $16.94 billion, a price-to-earnings ratio of -2,534.93, a price-to-earnings growth ratio of 50.80, and a beta of 1.18.
Guidewire Software (NYSE:GWRE – Get Free Report) posted its latest quarterly results on Thursday, September 5. The technology company reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.54 by $0.08. The company had revenue of $291.50 million for the quarter, compared to analyst estimates of $283.84 million. Guidewire Software had a negative net margin of 0.62% and a negative return on equity of 1.29%. The company’s revenue increased by 8.0% compared to the same quarter last year. During the same period last year, the company posted earnings per share of $0.30. As a group, equity analysts predict that Guidewire Software will post earnings per share of 0.53 for the current fiscal year.
Insider transactions at Guidewire Software
In other Guidewire Software news: President John P. Mullen sold 1,350 shares of Guidewire Software stock in a transaction dated Wednesday, November 20. The stock sold at an average price of $197.72, for a total value of $266,922.00. Following the completion of the sale, the President now owns 189,261 shares of the company’s stock, valued at $37,420,684.92. The trade resulted in a 0.71% decline in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insider James Winston King also sold 4,514 shares in a transaction dated Thursday, September 19. The stock sold at an average price of $172.66, for a total transaction of $779,387.24. Following the transaction, the insider now owns 48,237 shares in the company, valued at approximately $8,328,600.42. The transaction resulted in an 8.56% decrease in their ownership of the shares. The explanation of this sale can be found here. Insiders have sold a total of 52,601 shares of the company’s stock worth $9,116,179 over the last ninety days. 0.48% of the shares are currently owned by business insiders.
Institutional investors are considering Guidewire software
Several institutional investors and hedge funds have recently increased or decreased their stakes in the company. Mirae Asset Global Investments Co. Ltd. increased its position in Guidewire Software by 21.1% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 345 shares of the technology company’s stock worth $63,000, after purchasing an additional 60 shares during the period. Allspring Global Investments Holdings LLC increased its position in Guidewire Software by 4.0% during the second quarter. Allspring Global Investments Holdings LLC now owns 2,050 shares of the technology company’s stock worth $283,000 after acquiring an additional 79 shares in the last quarter. CIBC Asset Management Inc increased its stake in Guidewire Software by 3.7% in the third quarter. CIBC Asset Management Inc now owns 2,451 shares of the technology company’s stock worth $448,000 after acquiring an additional 87 shares during the period. Vanguard Personalized Indexing Management LLC increased its position in Guidewire Software by 1.3% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 9,078 shares of the technology company’s stock worth $1,252,000 after acquiring an additional 116 shares in the last quarter. Finally, CHICAGO TRUST Co NA increased its position in Guidewire Software by 4.8% in the second quarter. CHICAGO TRUST Co NA now owns 2,845 shares of the technology company’s stock worth $392,000 after acquiring an additional 130 shares in the last quarter.
Guidewire Software Company Profile
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Guidewire Software, Inc provides a platform for property and casualty insurers worldwide. The company offers Guidewire InsuranceSuite Cloud, such as PolicyCenter Cloud, BillingCenter Cloud and ClaimCenter Cloud applications. It also offers Guidewire InsuranceNow, a cloud-based platform that provides policy, billing and claims management functionality to insurers; and Guidewire InsuranceSuite for self-management.
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