Analysts Set Guidewire Software Inc (GWRE) Target Price at $68.86
Shares of Guidewire Software Inc (NYSE:GWRE) have been assigned an average recommendation of “Buy” from the eleven brokerages that are presently covering the firm. One analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and six have assigned a buy recommendation to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $68.86.
A number of analysts have recently issued reports on GWRE shares. Bank of America Corp. downgraded shares of Guidewire Software from a “neutral” rating to an “underperform” rating and set a $60.00 price target on the stock. in a report on Friday, September 16th. They noted that the move was a valuation call. Zacks Investment Research raised shares of Guidewire Software from a “sell” rating to a “hold” rating in a report on Thursday, November 3rd. TheStreet raised shares of Guidewire Software from a “hold” rating to a “buy” rating in a report on Wednesday, September 7th. Deutsche Bank AG reissued a “buy” rating and issued a $80.00 price objective on shares of Guidewire Software in a report on Thursday, September 29th. Finally, Goldman Sachs Group Inc. assumed coverage on shares of Guidewire Software in a report on Tuesday, October 4th. They issued a “neutral” rating and a $57.00 price objective on the stock. They noted that the move was a valuation call.
In other news, insider Scott Roza sold 781 shares of Guidewire Software stock in a transaction that occurred on Tuesday, November 15th. The shares were sold at an average price of $56.16, for a total transaction of $43,860.96. Following the sale, the insider now owns 982 shares in the company, valued at $55,149.12. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Priscilla Hung sold 970 shares of Guidewire Software stock in a transaction that occurred on Tuesday, September 13th. The shares were sold at an average price of $61.52, for a total transaction of $59,674.40. Following the sale, the insider now owns 345 shares in the company, valued at approximately $21,224.40. The disclosure for this sale can be found here.
Large investors have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD boosted its stake in Guidewire Software by 8.5% in the third quarter. Price T Rowe Associates Inc. MD now owns 6,364,991 shares of the company’s stock valued at $381,772,000 after buying an additional 500,090 shares during the last quarter. William Blair Investment Management LLC raised its position in Guidewire Software by 3.9% in the second quarter. William Blair Investment Management LLC now owns 5,136,907 shares of the company’s stock worth $317,255,000 after buying an additional 192,866 shares during the period. Artisan Partners Limited Partnership raised its position in Guidewire Software by 5.5% in the second quarter. Artisan Partners Limited Partnership now owns 5,099,484 shares of the company’s stock worth $314,944,000 after buying an additional 267,520 shares during the period. Brown Capital Management LLC raised its position in Guidewire Software by 15.7% in the second quarter. Brown Capital Management LLC now owns 2,505,767 shares of the company’s stock worth $154,756,000 after buying an additional 340,121 shares during the period. Finally, BlackRock Institutional Trust Company N.A. raised its position in Guidewire Software by 2.6% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 1,813,113 shares of the company’s stock worth $108,751,000 after buying an additional 46,203 shares during the period.
Guidewire Software (NYSE:GWRE) opened at 58.30 on Tuesday. The stock has a market cap of $4.26 billion and a PE ratio of 291.50. Guidewire Software has a 1-year low of $42.32 and a 1-year high of $64.78. The firm has a 50-day moving average of $57.92 and a 200-day moving average of $59.92.
Guidewire Software (NYSE:GWRE) last announced its quarterly earnings results on Wednesday, September 7th. The company reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.07. The company had revenue of $141.18 million for the quarter, compared to analysts’ expectations of $136.09 million. The business’s revenue was up 12.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.35 EPS. Analysts expect that Guidewire Software will post $0.76 EPS for the current fiscal year.
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Guidewire Software Company Profile
Guidewire Software, Inc is a provider of software products for property and casualty (P&C) insurers. The Company’s software serves as a technology platform for P&C insurance carriers. Its platform consists of three products: core transaction processing, data management and analytics, and digital engagement.
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