Guidewire Software (NYSE:GWRE) Price Target Raised to $270.00

Guidewire Software (NYSE:GWRE) had its price target hoisted by Stifel Nicolaus from $230.00 to $270.00 in a report issued on Wednesday,Benzinga reports. They currently have a buy rating on the technology company’s stock.

GWRE has been the subject of a number of other research reports. Oppenheimer boosted their price target on Guidewire Software from $230.00 to $275.00 and gave the company an “outperform” rating in a research report on Wednesday. JPMorgan Chase & Co. boosted their target price on Guidewire Software from $231.00 to $271.00 and gave the stock an “overweight” rating in a report on Wednesday. Wells Fargo & Company increased their target price on shares of Guidewire Software from $220.00 to $265.00 and gave the stock an “overweight” rating in a research report on Wednesday. Bank of America raised their price target on shares of Guidewire Software from $135.00 to $160.00 and gave the company an “underperform” rating in a report on Wednesday. Finally, The Goldman Sachs Group boosted their price objective on shares of Guidewire Software from $235.00 to $270.00 and gave the stock a “buy” rating in a research note on Wednesday. One research analyst has rated the stock with a sell rating, three have given a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, Guidewire Software currently has a consensus rating of “Moderate Buy” and a consensus target price of $247.00.

Guidewire Software Trading Down 0.3%

Shares of GWRE stock opened at $255.36 on Wednesday. The firm’s 50-day simple moving average is $204.44 and its 200-day simple moving average is $195.53. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.66 and a quick ratio of 2.66. Guidewire Software has a 1-year low of $129.02 and a 1-year high of $263.20. The firm has a market cap of $21.42 billion, a P/E ratio of 709.34, a PEG ratio of 37.21 and a beta of 1.15.

Guidewire Software (NYSE:GWRE) last posted its quarterly earnings results on Tuesday, June 3rd. The technology company reported $0.88 earnings per share for the quarter, topping analysts’ consensus estimates of $0.47 by $0.41. The company had revenue of $293.51 million for the quarter, compared to the consensus estimate of $286.40 million. Guidewire Software had a net margin of 2.91% and a return on equity of 2.38%. Guidewire Software’s revenue was up 22.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.26 earnings per share. As a group, equities analysts forecast that Guidewire Software will post 0.52 EPS for the current year.

Insider Transactions at Guidewire Software

In other news, CEO Michael George Rosenbaum sold 1,400 shares of the stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $170.04, for a total transaction of $238,056.00. Following the transaction, the chief executive officer now owns 269,130 shares of the company’s stock, valued at approximately $45,762,865.20. This trade represents a 0.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Michael C. Keller sold 1,848 shares of Guidewire Software stock in a transaction on Monday, March 17th. The stock was sold at an average price of $185.03, for a total transaction of $341,935.44. Following the completion of the transaction, the director now directly owns 12,270 shares of the company’s stock, valued at approximately $2,270,318.10. This represents a 13.09% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 28,671 shares of company stock valued at $5,471,104. 0.48% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Guidewire Software

Institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in shares of Guidewire Software by 3.0% in the 1st quarter. Vanguard Group Inc. now owns 8,711,604 shares of the technology company’s stock worth $1,632,206,000 after purchasing an additional 256,070 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Guidewire Software by 16.2% in the first quarter. Massachusetts Financial Services Co. MA now owns 5,157,195 shares of the technology company’s stock valued at $966,252,000 after buying an additional 720,322 shares during the last quarter. Linonia Partnership LP boosted its holdings in shares of Guidewire Software by 41.8% during the first quarter. Linonia Partnership LP now owns 3,396,310 shares of the technology company’s stock valued at $636,333,000 after acquiring an additional 1,000,709 shares during the period. Stockbridge Partners LLC grew its position in shares of Guidewire Software by 8.3% during the fourth quarter. Stockbridge Partners LLC now owns 2,678,857 shares of the technology company’s stock worth $451,602,000 after acquiring an additional 205,382 shares during the last quarter. Finally, Wellington Management Group LLP grew its position in shares of Guidewire Software by 1.5% during the first quarter. Wellington Management Group LLP now owns 1,672,767 shares of the technology company’s stock worth $313,410,000 after acquiring an additional 24,991 shares during the last quarter.

About Guidewire Software

Guidewire Software, Inc provides a platform for property and casualty (P&C) insurers worldwide. The company offers Guidewire InsuranceSuite Cloud, such as PolicyCenter Cloud, BillingCenter Cloud, and ClaimCenter Cloud applications. It also provides Guidewire InsuranceNow, a cloud-based platform that offers policy, billing, and claims management functionality to insurers; and Guidewire InsuranceSuite for Self-Managed.