DA Davidson Boosts Guidewire Software (NYSE:GWRE) Price Target to $168.00

Guidewire Software (NYSE:GWRE) had its target price upped by DA Davidson from $142.00 to $168.00 in a research note issued to investors on Thursday, Benzinga reports. DA Davidson currently has a buy rating on the technology company’s stock.

Several other brokerages have also recently commented on GWRE. Oppenheimer raised their target price on shares of Guidewire Software from $140.00 to $170.00 and gave the stock an outperform rating in a report on Tuesday, August 20th. Stifel Nicolaus raised their target price on shares of Guidewire Software from $130.00 to $140.00 and gave the stock a buy rating in a report on Wednesday, June 5th. Citigroup raised their target price on shares of Guidewire Software from $109.00 to $122.00 and gave the stock a neutral rating in a report on Tuesday, June 4th. Robert W. Baird raised their price target on shares of Guidewire Software from $140.00 to $152.00 and gave the stock an outperform rating in a report on Thursday, June 6th. Finally, Royal Bank of Canada raised their price target on shares of Guidewire Software from $130.00 to $170.00 and gave the stock an outperform rating in a report on Thursday, June 27th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus target price of $146.69.

Guidewire Software Trading Up 0.9 %

Guidewire Software stock opened at $148.77 on Thursday. The company’s 50-day moving average price is $143.33 and its two-hundred day moving average price is $127.11. The stock has a market cap of $12.30 billion, a price-to-earnings ratio of -1,144.30 and a beta of 1.19. Guidewire Software has a 52 week low of $81.52 and a 52 week high of $153.85.

Guidewire Software (NYSE:GWRE) last announced its quarterly earnings data on Tuesday, June 4th. The technology company reported ($0.09) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.23) by $0.14. The company had revenue of $240.68 million for the quarter, compared to analysts’ expectations of $231.46 million. Guidewire Software had a negative net margin of 1.11% and a negative return on equity of 1.19%. Research analysts expect that Guidewire Software will post -0.31 earnings per share for the current fiscal year.

Insider Activity at Guidewire Software

In other news, CEO Michael George Rosenbaum sold 5,582 shares of Guidewire Software stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of $134.54, for a total value of $751,002.28. Following the transaction, the chief executive officer now owns 239,793 shares of the company’s stock, valued at $32,261,750.22. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CEO Michael George Rosenbaum sold 5,582 shares of Guidewire Software stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of $134.54, for a total value of $751,002.28. Following the transaction, the chief executive officer now owns 239,793 shares of the company’s stock, valued at $32,261,750.22. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Jeffrey Elliott Cooper sold 1,765 shares of Guidewire Software stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $134.20, for a total transaction of $236,863.00. Following the completion of the transaction, the chief financial officer now directly owns 61,714 shares in the company, valued at approximately $8,282,018.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 13,064 shares of company stock valued at $1,782,775. 0.38% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Guidewire Software

Institutional investors and hedge funds have recently bought and sold shares of the stock. Alberta Investment Management Corp increased its position in Guidewire Software by 11.1% during the fourth quarter. Alberta Investment Management Corp now owns 33,678 shares of the technology company’s stock worth $3,672,000 after acquiring an additional 3,355 shares during the period. Teca Partners LP boosted its stake in Guidewire Software by 31.1% during the fourth quarter. Teca Partners LP now owns 195,599 shares of the technology company’s stock worth $21,328,000 after buying an additional 46,453 shares in the last quarter. Kapitalo Investimentos Ltda acquired a new stake in Guidewire Software during the fourth quarter worth $204,000. Wasatch Advisors LP boosted its stake in Guidewire Software by 4.2% during the first quarter. Wasatch Advisors LP now owns 2,874,758 shares of the technology company’s stock worth $335,513,000 after buying an additional 115,600 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new stake in Guidewire Software during the first quarter worth $417,000.

Guidewire Software Company Profile

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.