Guidewire Software (NYSE:GWRE) Given New $170.00 Price Target at Oppenheimer

Guidewire Software (NYSE:GWRE) had its price target raised by Oppenheimer from $140.00 to $170.00 in a research report released on Tuesday morning, Benzinga reports. They currently have an outperform rating on the technology company’s stock.

Other equities research analysts have also recently issued research reports about the company. BTIG Research boosted their price objective on Guidewire Software from $135.00 to $140.00 and gave the stock a buy rating in a report on Wednesday, June 5th. Royal Bank of Canada boosted their price target on Guidewire Software from $130.00 to $170.00 and gave the company an outperform rating in a research note on Thursday, June 27th. Stifel Nicolaus boosted their price target on Guidewire Software from $130.00 to $140.00 and gave the company a buy rating in a research note on Wednesday, June 5th. Robert W. Baird boosted their price target on Guidewire Software from $140.00 to $152.00 and gave the company an outperform rating in a research note on Thursday, June 6th. Finally, The Goldman Sachs Group boosted their price target on Guidewire Software from $146.00 to $170.00 and gave the company a buy rating in a research note on Monday, July 22nd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of Moderate Buy and a consensus target price of $141.54.

Guidewire Software Stock Down 0.5 %

Shares of NYSE:GWRE opened at $145.80 on Tuesday. Guidewire Software has a 12-month low of $79.96 and a 12-month high of $153.85. The stock has a market cap of $12.05 billion, a PE ratio of -1,121.54 and a beta of 1.19. The business has a 50 day moving average of $142.16 and a 200-day moving average of $125.88.

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

Insiders Place Their Bets

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 transaction 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. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Michael George Rosenbaum sold 5,582 shares of the company’s stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $134.54, for a total transaction of $751,002.28. Following the completion of the transaction, the chief executive officer now directly owns 239,793 shares in the company, valued at $32,261,750.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 transaction of $201,190.50. Following the transaction, the insider now owns 137,821 shares of the company’s stock, valued at $20,539,463.63. The disclosure for this sale can be found here. Insiders sold 13,064 shares of company stock worth $1,782,775 over the last three months. Insiders own 0.38% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Transcendent Capital Group LLC acquired a new stake in Guidewire Software in the fourth quarter valued at $27,000. ORG Partners LLC acquired a new stake in Guidewire Software in the first quarter valued at $29,000. Rothschild Investment LLC acquired a new stake in Guidewire Software in the second quarter valued at $31,000. Lynx Investment Advisory acquired a new stake in Guidewire Software in the second quarter valued at $41,000. Finally, DT Investment Partners LLC acquired a new stake in Guidewire Software in the second quarter valued at $41,000.

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.