Needham & Company LLC Reaffirms “Hold” Rating for Guidewire Software (NYSE:GWRE)

Guidewire Software (NYSE:GWRE)‘s stock had its “hold” rating reaffirmed by research analysts at Needham & Company LLC in a research note issued on Friday, Benzinga reports.

Several other equities research analysts also recently weighed in on GWRE. Robert W. Baird raised their price target on Guidewire Software from $175.00 to $204.00 and gave the stock an “outperform” rating in a report on Tuesday. Oppenheimer upped their target price on Guidewire Software from $185.00 to $200.00 and gave the stock an “outperform” rating in a research note on Friday, October 4th. JPMorgan Chase & Co. lifted their target price on shares of Guidewire Software from $170.00 to $210.00 and gave the company an “overweight” rating in a report on Thursday, October 3rd. Royal Bank of Canada increased their price target on shares of Guidewire Software from $170.00 to $180.00 and gave the stock an “outperform” rating in a report on Friday, September 6th. Finally, Wells Fargo & Company upped their price target on Guidewire Software from $185.00 to $200.00 and gave the stock an “overweight” rating in a report on Thursday, October 3rd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $173.92.

Guidewire Software Stock Down 0.8 %

Guidewire Software stock opened at $183.29 on Friday. The firm has a market cap of $15.22 billion, a P/E ratio of -2,290.84 and a beta of 1.19. The business has a fifty day moving average of $161.03 and a two-hundred day moving average of $138.08. Guidewire Software has a twelve month low of $85.15 and a twelve month high of $185.20.

Guidewire Software (NYSE:GWRE) last issued its quarterly earnings data on Thursday, September 5th. The technology company reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.54 by $0.08. Guidewire Software had a negative net margin of 0.62% and a negative return on equity of 1.29%. The firm had revenue of $291.50 million for the quarter, compared to the consensus estimate of $283.84 million. During the same quarter in the previous year, the firm earned $0.30 EPS. The company’s quarterly revenue was up 8.0% compared to the same quarter last year. Equities analysts expect that Guidewire Software will post 0.53 earnings per share for the current year.

Insider Activity at Guidewire Software

In related news, insider John P. Mullen sold 1,350 shares of the business’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $149.03, for a total transaction of $201,190.50. Following the transaction, the insider now directly owns 137,821 shares in the company, valued at approximately $20,539,463.63. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Guidewire Software news, insider John P. Mullen sold 1,350 shares of the company’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $149.03, for a total value of $201,190.50. Following the completion of the sale, the insider now directly owns 137,821 shares in the company, valued at $20,539,463.63. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John P. Mullen sold 6,718 shares of Guidewire Software stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $172.16, for a total value of $1,156,570.88. Following the transaction, the insider now owns 160,099 shares in the company, valued at approximately $27,562,643.84. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 52,601 shares of company stock valued at $8,984,892. 0.38% of the stock is owned by insiders.

Hedge Funds Weigh In On Guidewire Software

Several large investors have recently modified their holdings of GWRE. CHICAGO TRUST Co NA lifted its holdings in shares of Guidewire Software by 12.5% in the 3rd quarter. CHICAGO TRUST Co NA now owns 3,200 shares of the technology company’s stock worth $585,000 after acquiring an additional 355 shares during the last quarter. Westwind Capital acquired a new position in Guidewire Software in the 3rd quarter valued at about $13,765,000. Wedmont Private Capital increased its stake in Guidewire Software by 43.9% during the 3rd quarter. Wedmont Private Capital now owns 2,157 shares of the technology company’s stock worth $393,000 after buying an additional 658 shares during the period. CWM LLC lifted its holdings in Guidewire Software by 186.8% during the 3rd quarter. CWM LLC now owns 15,004 shares of the technology company’s stock worth $2,745,000 after buying an additional 9,773 shares in the last quarter. Finally, Atomi Financial Group Inc. acquired a new position in shares of Guidewire Software in the third quarter worth $402,000.

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.