Royal Bank of Canada reiterates outperform rating for Guidewire software (NYSE:GWRE)

Royal Bank of Canada has reissued its outperform rating on equities Guidewire Software (NYSE:GWRE – Free Report) in a research report sent to investors on Tuesday, Benzinga reports. Royal Bank of Canada currently has a $215.00 price target on the technology company’s stock.

Several other equities research analysts have also issued reports on the stock recently. Needham & Company LLC reiterated a “hold” rating on shares of Guidewire Software in a research report on Friday, October 11th. BTIG Research lifted their price objective on shares of Guidewire Software from $140.00 to $165.00 and gave the stock a “buy” rating in a research report on Friday, August 30. Stifel Nicolaus raised their target price on shares of Guidewire Software from $200.00 to $220.00 and gave the stock a “buy” rating in a research report on Tuesday. Citigroup raised their price objective on shares of Guidewire Software from $123.00 to $165.00 and gave the stock a “neutral” rating in a research report on Monday, September 9th. Finally, JMP Securities raised their price objective on shares of Guidewire Software from $179.00 to $200.00 and gave the stock a “market outperform” rating in a research report on Friday, October 11th. One research analyst has rated the stock with a sell rating, two have given a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of Moderate Buy and an average price target of $183.69.

Check out our latest research report on GWRE

Guidewire software stock performance

Shares of NYSE:GWRE opened at $202.77 on Tuesday. Guidewire Software has a 52-week low of $95.02 and a 52-week high of $202.99. 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. The company has a 50-day simple moving average of $185.74 and a 200-day simple moving average of $154.29.

Guidewire Software (NYSE:GWRE – Get Free Report) posted its latest earnings 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 net margin of 0.62% and a negative return on equity of 1.29%. The company had revenue of $291.50 million during the quarter, compared to the consensus estimate of $283.84 million. During the same period last year, the company posted earnings per share of $0.30. Guidewire Software revenue increased 8.0% year over year. As a group, equity analysts predict that Guidewire Software will post 0.53 earnings per share for the current year.

Insider activity at Guidewire Software

In related news, President John P. Mullen sold 1,350 shares of Guidewire Software stock in a transaction that occurred on Wednesday, November 20th. The shares sold at an average price of $197.72, for a total value of $266,922.00. Following the transaction, the president now directly owns 189,261 shares of the company’s stock, valued at $37,420,684.92. This transaction represents a 0.71% decrease in their ownership of the shares. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 sale, the CEO now directly owns 287,662 shares in the company, valued at approximately $49,523,889.92. The trade was down 7.52% in their position. The explanation of this sale can be found here. Insiders have sold 52,601 company shares worth $9,116,179 in the last three months. 0.48% of the shares are owned by insiders.

Institutional trading in Guidewire software

Hedge funds and other institutional investors have recently changed their holdings of stocks. Cetera Investment Advisers grew its holdings in shares of Guidewire Software by 648.0% during the first quarter. Cetera Investment Advisers now owns 18,117 shares of the technology company’s stock worth $2,114,000 after purchasing an additional 15,695 shares in the last quarter. Acadian Asset Management LLC grew its holdings in shares of 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 purchasing an additional 3,409 shares in the last quarter. Parkside Financial Bank & Trust grew its stake in shares of Guidewire Software by 8.0% in the second quarter. Parkside Financial Bank & Trust now owns 2,215 shares of the technology company’s stock worth $305,000 after purchasing an additional 165 shares in the last quarter. Xponance Inc. increased its stake in Guidewire Software shares by 79.8% in the second quarter. Xponance Inc. now owns 6,908 shares of the technology company worth $953,000, after purchasing an additional 3,066 shares in the last quarter. Finally, Pallas Capital Advisors LLC grew its holdings in shares of Guidewire Software by 219.5% in the 3rd quarter. Pallas Capital Advisors LLC now owns 6,057 shares of the technology company’s stock worth $1,139,000 after purchasing an additional 4,161 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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