JPMorgan Chase & Co. Has Lowered Expectations for Guidewire Software (NYSE:GWRE) Stock Price

Guidewire Software (NYSE:GWRE) had its price target lowered by investment analysts at JPMorgan Chase & Co. from $300.00 to $258.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the technology company’s stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 83.87% from the stock’s current price.

GWRE has been the subject of several other research reports. BTIG Research restated a “buy” rating and set a $175.00 price target on shares of Guidewire Software in a research note on Thursday, July 2nd. Oppenheimer reduced their price objective on Guidewire Software from $250.00 to $180.00 and set an “outperform” rating for the company in a report on Monday, May 18th. Stifel Nicolaus decreased their target price on Guidewire Software from $225.00 to $200.00 and set a “buy” rating for the company in a research report on Friday, June 5th. Royal Bank Of Canada dropped their price target on Guidewire Software from $250.00 to $215.00 and set an “outperform” rating on the stock in a research report on Friday, June 5th. Finally, Citizens Jmp cut their price target on Guidewire Software from $300.00 to $220.00 and set a “market outperform” rating for the company in a research note on Friday, June 5th. Eleven investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $224.42.

Guidewire Software Price Performance

GWRE opened at $140.32 on Tuesday. Guidewire Software has a fifty-two week low of $102.30 and a fifty-two week high of $272.60. The firm has a 50-day moving average of $131.24 and a 200 day moving average of $145.05. The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.44 and a current ratio of 2.44. The firm has a market cap of $11.68 billion, a P/E ratio of 75.85 and a beta of 0.95.

Guidewire Software (NYSE:GWRE) last announced its quarterly earnings data on Thursday, June 4th. The technology company reported $0.82 EPS for the quarter, topping the consensus estimate of $0.74 by $0.08. The business had revenue of $372.54 million for the quarter, compared to analyst estimates of $355.92 million. Guidewire Software had a net margin of 11.25% and a return on equity of 12.62%. The company’s revenue for the quarter was up 26.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.88 earnings per share. On average, research analysts expect that Guidewire Software will post 1.83 EPS for the current year.

Insider Buying and Selling

In related news, CEO Michael George Rosenbaum sold 5,830 shares of the business’s stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $118.74, for a total transaction of $692,254.20. Following the sale, the chief executive officer directly owned 199,776 shares in the company, valued at approximately $23,721,402.24. The trade was a 2.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider James Winston King sold 1,684 shares of the stock in a transaction dated Thursday, July 9th. The stock was sold at an average price of $130.64, for a total value of $219,997.76. Following the sale, the insider directly owned 30,018 shares in the company, valued at $3,921,551.52. This trade represents a 5.31% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 31,393 shares of company stock valued at $3,960,558 over the last three months. Insiders own 0.46% of the company’s stock.

Institutional Investors Weigh In On Guidewire Software

A number of institutional investors and hedge funds have recently modified their holdings of GWRE. IFP Advisors Inc boosted its position in shares of Guidewire Software by 4.6% in the third quarter. IFP Advisors Inc now owns 1,104 shares of the technology company’s stock valued at $254,000 after acquiring an additional 49 shares during the period. American Trust increased its holdings in Guidewire Software by 3.9% during the 3rd quarter. American Trust now owns 1,632 shares of the technology company’s stock worth $375,000 after acquiring an additional 61 shares during the period. Vident Advisory LLC lifted its stake in Guidewire Software by 1.7% in the 3rd quarter. Vident Advisory LLC now owns 4,074 shares of the technology company’s stock worth $936,000 after purchasing an additional 70 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in Guidewire Software by 18.3% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 505 shares of the technology company’s stock worth $102,000 after purchasing an additional 78 shares in the last quarter. Finally, Castleark Management LLC lifted its stake in Guidewire Software by 1.6% in the 1st quarter. Castleark Management LLC now owns 5,180 shares of the technology company’s stock worth $775,000 after purchasing an additional 80 shares in the last quarter.

Guidewire Software Company Profile

Guidewire Software, Inc develops software products and cloud services for property and casualty (P&C) insurance carriers. Headquartered in San Mateo, California, the company’s offerings are designed to help insurers manage the core functions of their business—policy administration, billing and claims—while supporting digital engagement, analytics and operational modernization.

Guidewire’s core product portfolio is commonly known as the InsuranceSuite, which includes PolicyCenter for policy administration, BillingCenter for billing and receivables, and ClaimCenter for claims management.