Guidewire Software (NYSE:GWRE) Price Target Raised to $220.00 at Wells Fargo & Company

Guidewire Software (NYSE:GWRE) had its target price upped by Wells Fargo & Company from $215.00 to $220.00 in a research report released on Friday morning,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the technology company’s stock.

A number of other analysts have also weighed in on GWRE. DA Davidson reissued a “buy” rating and set a $210.00 price objective on shares of Guidewire Software in a research note on Wednesday. Needham & Company LLC restated a “hold” rating on shares of Guidewire Software in a report on Friday. Robert W. Baird upped their price target on Guidewire Software from $204.00 to $220.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 19th. Oppenheimer lifted their target price on shares of Guidewire Software from $220.00 to $230.00 and gave the stock an “outperform” rating in a report on Friday. Finally, JPMorgan Chase & Co. upped their price target on Guidewire Software from $170.00 to $210.00 and gave the company an “overweight” rating in a report on Thursday, October 3rd. One equities 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $193.00.

Guidewire Software Stock Performance

Shares of GWRE stock opened at $177.57 on Friday. Guidewire Software has a 52 week low of $95.02 and a 52 week high of $209.15. The firm’s 50-day simple moving average is $191.58 and its two-hundred day simple moving average is $160.55. The firm has a market cap of $14.83 billion, a price-to-earnings ratio of 493.25, a P/E/G ratio of 53.58 and a beta of 1.18.

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. The company had revenue of $291.50 million for the quarter, compared to the consensus estimate 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 revenue was up 8.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.30 earnings per share. Analysts forecast that Guidewire Software will post 0.53 earnings per share for the current year.

Insider Activity

In other news, President John P. Mullen sold 1,350 shares of Guidewire Software stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $187.68, for a total transaction of $253,368.00. Following the completion of the sale, the president now directly owns 190,611 shares in the company, valued at approximately $35,773,872.48. This trade represents a 0.70 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael George Rosenbaum sold 23,379 shares of the company’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $172.16, for a total transaction of $4,024,928.64. Following the completion of the sale, the chief executive officer now directly owns 287,662 shares in the company, valued at $49,523,889.92. This trade represents a 7.52 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 52,601 shares of company stock valued at $9,116,179 in the last 90 days. Company insiders own 0.48% of the company’s stock.

Institutional Trading of Guidewire Software

A number of hedge funds have recently added to or reduced their stakes in GWRE. Mirae Asset Global Investments Co. Ltd. boosted its stake in Guidewire Software by 21.1% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 345 shares of the technology company’s stock valued at $63,000 after acquiring an additional 60 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of Guidewire Software by 4.0% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 2,050 shares of the technology company’s stock worth $283,000 after purchasing an additional 79 shares during the last quarter. CIBC Asset Management Inc boosted its position in shares of Guidewire Software by 3.7% in the 3rd quarter. CIBC Asset Management Inc now owns 2,451 shares of the technology company’s stock valued at $448,000 after purchasing an additional 87 shares during the period. Vanguard Personalized Indexing Management LLC raised its stake in Guidewire Software by 1.3% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 9,078 shares of the technology company’s stock valued at $1,252,000 after purchasing an additional 116 shares during the period. Finally, Legacy Advisors LLC increased its holdings in shares of Guidewire Software by 1.6% in 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 during the period.

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.