JMP Securities Forecasts Strong Price Appreciation for Guidewire Software (NYSE:GWRE) Stock

Guidewire Software (NYSE:GWRE) had its price objective boosted by analysts at JMP Securities from $200.00 to $231.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has a “market outperform” rating on the technology company’s stock. JMP Securities’ target price would suggest a potential upside of 13.13% from the company’s current price.

A number of other research analysts have also commented on the company. Needham & Company LLC reiterated a “hold” rating on shares of Guidewire Software in a research report on Friday, October 11th. Stifel Nicolaus raised their price target on Guidewire Software from $200.00 to $220.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. JPMorgan Chase & Co. boosted their price objective on Guidewire Software from $170.00 to $210.00 and gave the stock an “overweight” rating in a report on Thursday, October 3rd. BTIG Research raised their target price on shares of Guidewire Software from $140.00 to $165.00 and gave the company a “buy” rating in a research note on Friday, August 30th. Finally, Wells Fargo & Company lifted their price target on shares of Guidewire Software from $205.00 to $215.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 19th. One 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 company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $186.08.

Guidewire Software Price Performance

Shares of GWRE stock traded up $1.37 during trading hours on Monday, hitting $204.19. 54,542 shares of the company’s stock were exchanged, compared to its average volume of 694,830. Guidewire Software has a 52 week low of $95.02 and a 52 week high of $207.10. The stock has a market cap of $17.05 billion, a price-to-earnings ratio of -2,548.56, a price-to-earnings-growth ratio of 52.47 and a beta of 1.18. The stock’s 50-day moving average is $186.35 and its 200-day moving average is $155.43.

Guidewire Software (NYSE:GWRE) last issued its quarterly earnings data on Thursday, September 5th. The technology company reported $0.62 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 analyst estimates of $283.84 million. During the same quarter in the prior year, the firm earned $0.30 EPS. The company’s revenue was up 8.0% on a year-over-year basis. Equities research analysts forecast that Guidewire Software will post 0.53 earnings per share for the current fiscal year.

Insider Activity at Guidewire Software

In related news, President John P. Mullen sold 1,350 shares of Guidewire Software stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $197.72, for a total transaction of $266,922.00. Following the completion of the transaction, the president now owns 189,261 shares in the company, valued at approximately $37,420,684.92. This trade represents a 0.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider James Winston King sold 4,514 shares of the company’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $172.66, for a total value of $779,387.24. Following the completion of the sale, the insider now owns 48,237 shares in the company, valued at $8,328,600.42. This represents a 8.56 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 52,601 shares of company stock valued at $9,116,179. 0.48% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Guidewire Software

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GWRE. Rothschild Investment LLC bought a new stake in shares of Guidewire Software during the second quarter worth approximately $31,000. Assetmark Inc. lifted its holdings in Guidewire Software by 537.0% during the 3rd quarter. Assetmark Inc. now owns 172 shares of the technology company’s stock worth $31,000 after purchasing an additional 145 shares during the last quarter. Point72 Hong Kong Ltd bought a new stake in Guidewire Software in the 3rd quarter valued at $33,000. Lynx Investment Advisory acquired a new position in Guidewire Software in the 2nd quarter valued at $41,000. Finally, DT Investment Partners LLC bought a new position in Guidewire Software during the 2nd quarter worth $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.