Guidewire Software (NYSE:GWRE) Given New $185.00 Price Target at Wells Fargo & Company

Guidewire Software (NYSE:GWRE) had its target price lifted by research analysts at Wells Fargo & Company from $175.00 to $185.00 in a research report issued on Friday, Benzinga reports. The brokerage currently has an “overweight” rating on the technology company’s stock. Wells Fargo & Company‘s price objective would suggest a potential upside of 28.45% from the stock’s current price.

Other equities analysts have also recently issued reports about the stock. Citigroup lifted their price objective on shares of Guidewire Software from $109.00 to $122.00 and gave the stock a “neutral” rating in a research note on Tuesday, June 4th. Stifel Nicolaus lifted their price objective on shares of Guidewire Software from $130.00 to $140.00 and gave the stock a “buy” rating in a research note on Wednesday, June 5th. Oppenheimer lifted their price objective on shares of Guidewire Software from $170.00 to $185.00 and gave the stock an “outperform” rating in a research note on Friday. Royal Bank of Canada lifted their price objective on shares of Guidewire Software from $170.00 to $180.00 and gave the stock an “outperform” rating in a research note on Friday. Finally, Bank of America lifted their price objective on shares of Guidewire Software from $80.00 to $95.00 and gave the stock an “underperform” rating in a research note on Wednesday, June 5th. One analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $150.38.

Guidewire Software Stock Performance

GWRE opened at $144.03 on Friday. The stock has a market capitalization of $11.91 billion, a price-to-earnings ratio of -1,107.92 and a beta of 1.19. The company has a fifty day moving average of $144.17 and a 200 day moving average of $127.75. Guidewire Software has a fifty-two week low of $83.91 and a fifty-two week high of $153.85.

Guidewire Software (NYSE:GWRE) last posted its earnings results on Thursday, September 5th. 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 1.11% and a negative return on equity of 1.19%. The company had revenue of $291.50 million during the quarter, compared to analysts’ expectations of $283.84 million. During the same period last year, the company posted $0.30 earnings per share. Guidewire Software’s quarterly revenue was up 8.0% on a year-over-year basis. On average, equities research analysts forecast that Guidewire Software will post -0.31 earnings per share for the current year.

Insider Activity at Guidewire Software

In related news, insider John P. Mullen sold 1,350 shares of Guidewire Software stock in a transaction dated Friday, July 19th. The shares were sold at an average price of $139.12, for a total transaction of $187,812.00. Following the completion of the sale, the insider now owns 139,171 shares in the company, valued at approximately $19,361,469.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, insider John P. Mullen sold 1,350 shares of Guidewire Software stock in a transaction dated Friday, July 19th. The shares were sold at an average price of $139.12, for a total transaction of $187,812.00. Following the completion of the sale, the insider now owns 139,171 shares in the company, valued at approximately $19,361,469.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Jeffrey Elliott Cooper sold 3,017 shares of Guidewire Software stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $134.54, for a total transaction of $405,907.18. Following the sale, the chief financial officer now owns 63,479 shares of the company’s stock, valued at approximately $8,540,464.66. The disclosure for this sale can be found here. Insiders sold 13,064 shares of company stock worth $1,782,775 in the last 90 days. 0.38% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Guidewire Software

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in shares of Guidewire Software by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 8,134,952 shares of the technology company’s stock valued at $949,430,000 after purchasing an additional 67,439 shares in the last quarter. Wasatch Advisors LP raised its holdings in shares of Guidewire Software by 4.2% in the 1st quarter. Wasatch Advisors LP now owns 2,874,758 shares of the technology company’s stock valued at $335,513,000 after purchasing an additional 115,600 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of Guidewire Software by 23.2% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,747,349 shares of the technology company’s stock valued at $378,832,000 after purchasing an additional 516,942 shares in the last quarter. Linonia Partnership LP raised its holdings in shares of Guidewire Software by 8.4% in the 2nd quarter. Linonia Partnership LP now owns 2,395,601 shares of the technology company’s stock valued at $330,329,000 after purchasing an additional 185,077 shares in the last quarter. Finally, Whale Rock Capital Management LLC raised its holdings in shares of Guidewire Software by 23.4% in the 1st quarter. Whale Rock Capital Management LLC now owns 1,270,870 shares of the technology company’s stock valued at $148,323,000 after purchasing an additional 240,622 shares in the last quarter.

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.