Guidewire Software (NYSE:GWRE – Free Report) Wells Fargo & Company’s price target was raised from $205.00 to $215.00 in a research note published on Tuesday, Benzinga reports. The brokerage currently has an overweight rating on the tech company’s stock.
Several other research analysts have also recently commented on GWRE. JPMorgan Chase & Co. raised their price target on Guidewire Software from $170.00 to $210.00 and gave the company an “overweight” rating in a research report on Thursday, October 3. Needham & Company LLC reissued a “hold” rating on shares of Guidewire Software in a research report on Friday, October 11th. JMP Securities raised their price target on Guidewire Software from $179.00 to $200.00 and gave the company a “market outperform” rating in a research report on Friday, October 11th. Citigroup raised their price objective on Guidewire Software from $123.00 to $165.00 and gave the company a “neutral” rating in a research note on Monday, September 9. Finally, Robert W. Baird raised his price objective on Guidewire Software from $204.00 to $220.00 and gave the company an “outperform” rating in a research note on Tuesday. 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 company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $183.69.
Check out our latest analysis on GWRE
Guidewire Software Price-Performance
GWRE shares opened at $202.77 on Tuesday. The stock has a market cap of $16.94 billion, a price-to-earnings ratio of -2,534.93, a price-to-earnings ratio of 50.80 and a beta of 1.18. The company has a 50-day moving average of $185.74 and a 200-day moving average of $154.29. Guidewire Software has a fifty-two week low of $95.02 and a fifty-two week high of $202.99.
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 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 company had revenue of $291.50 million during the quarter, compared to analyst expectations of $283.84 million. During the same period last year, the company posted earnings per share of $0.30. The company’s quarterly revenue increased 8.0% compared to the same quarter last year. Equities analysts expect Guidewire Software to post 0.53 earnings per share for the current year.
Insider transactions at Guidewire Software
In other Guidewire Software news, CEO Michael George Rosenbaum sold 23,379 shares of the company’s stock in a transaction on Tuesday, September 17. The stock sold at an average price of $172.16, for a total transaction of $4,024,928.64. Following the transaction, the CEO now owns 287,662 shares in the company, valued at $49,523,889.92. This trade represents a 7.52% drop in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available on the SEC’s website. Insider John P. Mullen also sold 6,718 shares of the company’s stock in a transaction on Tuesday, September 17. The stock sold at an average price of $172.16, for a total value of $1,156,570.88. Following the transaction, the insider now owns 160,099 shares in the company, valued at approximately $27,562,643.84. This trade represents a 4.03% drop in their position. The explanation of this sale can be found here. Last quarter, insiders sold 52,601 company shares worth $9,116,179. Company insiders own 0.48% of the company’s shares.
Hedge funds weigh in on Guidewire software
A number of hedge funds have recently increased or decreased their stakes in GWRE. Massachusetts Financial Services Co. MA increased its stake in Guidewire Software by 24.7% during the third quarter. Massachusetts Financial Services Co. MA now owns 3,426,907 shares of the technology company’s stock worth $626,918,000 after acquiring an additional 679,558 shares during the period. International Assets Investment Management LLC grew its holdings in shares of Guidewire Software by 18,001.5% in the 3rd quarter. International Assets Investment Management LLC now owns 258,128 shares of the technology company’s stock valued at $472,220,000 after purchasing an additional 256,702 shares in the last quarter. Whale Rock Capital Management LLC grew its holdings in shares of Guidewire Software by 23.4% in the first quarter. Whale Rock Capital Management LLC now owns 1,270,870 shares of the technology company’s stock worth $148,323,000 after purchasing an additional 240,622 shares in the last quarter. Teca Partners LP acquired a new stake in shares of Guidewire Software during the second quarter worth $25,893,000. Finally, Linonia Partnership LP increased its stake in shares of Guidewire Software by 8.4% in the second quarter. Linonia Partnership LP now owns 2,395,601 shares of the technology company’s stock valued at $330,329,000 after purchasing an additional 185,077 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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