JMP Securities Boosts Guidewire Software (NYSE:GWRE) Price Target to $200.00

Guidewire Software (NYSE:GWRE) had its price objective upped by JMP Securities from $179.00 to $200.00 in a research note released on Friday, Benzinga reports. The brokerage currently has a market outperform rating on the technology company’s stock.

A number of other analysts have also recently weighed in on the company. The Goldman Sachs Group boosted their price target on Guidewire Software from $146.00 to $170.00 and gave the stock a buy rating in a research report on Monday, July 22nd. JPMorgan Chase & Co. upped their target price on Guidewire Software from $170.00 to $210.00 and gave the stock an overweight rating in a research report on Thursday, October 3rd. Stifel Nicolaus increased their price target on Guidewire Software from $175.00 to $200.00 and gave the company a buy rating in a report on Thursday, September 26th. Royal Bank of Canada boosted their price objective on shares of Guidewire Software from $180.00 to $215.00 and gave the stock an outperform rating in a research note on Friday. Finally, Needham & Company LLC reiterated a hold rating on shares of Guidewire Software in a research note on Friday. One analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus target price of $178.62.

Guidewire Software Price Performance

Shares of NYSE GWRE opened at $185.82 on Friday. Guidewire Software has a one year low of $85.15 and a one year high of $187.85. The business’s 50-day moving average price is $161.87 and its two-hundred day moving average price is $138.91. The company has a market capitalization of $15.36 billion, a P/E ratio of -1,429.38 and a beta of 1.19.

Guidewire Software (NYSE:GWRE) last announced its quarterly earnings results on Thursday, September 5th. The technology company reported $0.62 EPS for the quarter, beating the consensus estimate of $0.54 by $0.08. The business had revenue of $291.50 million during the quarter, compared to analysts’ expectations of $283.84 million. Guidewire Software had a negative return on equity of 1.29% and a negative net margin of 0.62%. The firm’s quarterly revenue was up 8.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.30 EPS. On average, equities analysts anticipate that Guidewire Software will post 0.53 EPS for the current year.

Insider Activity

In related news, CEO Michael George Rosenbaum sold 23,379 shares of the firm’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $172.16, for a total value of $4,024,928.64. Following the completion of the transaction, the chief executive officer now directly owns 287,662 shares of the company’s stock, valued at $49,523,889.92. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Guidewire Software news, CEO Michael George Rosenbaum sold 23,379 shares of Guidewire Software stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $172.16, for a total transaction of $4,024,928.64. Following the sale, the chief executive officer now directly owns 287,662 shares of the company’s stock, valued at approximately $49,523,889.92. The trade was a 0.00 % decrease in their ownership of the stock. The transaction 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 that occurred on Tuesday, August 20th. The shares were 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 owns 137,821 shares in the company, valued at approximately $20,539,463.63. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 52,601 shares of company stock worth $8,984,892. Company insiders own 0.38% of the company’s stock.

Institutional Investors Weigh In On Guidewire Software

Several institutional investors and hedge funds have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC lifted its holdings in Guidewire Software by 4.0% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 2,050 shares of the technology company’s stock valued at $283,000 after purchasing an additional 79 shares during the last quarter. Vanguard Personalized Indexing Management LLC boosted its holdings in shares of Guidewire Software by 1.3% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 9,078 shares of the technology company’s stock worth $1,252,000 after acquiring an additional 116 shares in the last quarter. CHICAGO TRUST Co NA grew its position in Guidewire Software by 4.8% during the 2nd quarter. CHICAGO TRUST Co NA now owns 2,845 shares of the technology company’s stock worth $392,000 after acquiring an additional 130 shares during the last quarter. Legacy Advisors LLC increased its holdings in Guidewire Software by 1.6% during the 2nd quarter. Legacy Advisors LLC now owns 8,329 shares of the technology company’s stock valued at $1,148,000 after purchasing an additional 135 shares in the last quarter. Finally, Parkside Financial Bank & Trust raised its position in Guidewire Software by 8.0% in the 2nd quarter. Parkside Financial Bank & Trust now owns 2,215 shares of the technology company’s stock valued at $305,000 after purchasing an additional 165 shares during 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.