Guidewire Software (NYSE:GWRE) Stock Price Expected to Rise, Royal Bank of Canada Analyst Says

Guidewire Software (NYSE:GWRE) had its target price raised by Royal Bank of Canada from $215.00 to $230.00 in a research note released on Friday,Benzinga reports. Royal Bank of Canada currently has an outperform rating on the technology company’s stock.

GWRE has been the subject of a number of other research reports. Stifel Nicolaus increased their price target on shares of Guidewire Software from $200.00 to $220.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. Needham & Company LLC reaffirmed a “hold” rating on shares of Guidewire Software in a report on Friday. Oppenheimer lifted their price objective on shares of Guidewire Software from $220.00 to $230.00 and gave the company an “outperform” rating in a research note on Friday. JPMorgan Chase & Co. boosted their price objective on Guidewire Software from $210.00 to $228.00 and gave the stock an “overweight” rating in a research report on Friday. Finally, JMP Securities restated a “market outperform” rating and issued a $231.00 price target on shares of Guidewire Software in a research report on Friday. 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. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $193.00.

Guidewire Software Trading Down 14.0 %

GWRE opened at $177.57 on Friday. The stock has a market capitalization of $14.83 billion, a PE ratio of 493.25, a PEG ratio of 53.58 and a beta of 1.18. Guidewire Software has a 1-year low of $95.02 and a 1-year high of $209.15. The firm has a 50-day moving average price of $191.58 and a two-hundred day moving average price of $160.55.

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

Insider Activity

In related news, President John P. Mullen sold 1,350 shares of the stock in a transaction on Friday, October 18th. The stock was sold at an average price of $187.68, for a total transaction of $253,368.00. Following the sale, the president now owns 190,611 shares in the company, valued at approximately $35,773,872.48. This represents a 0.70 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Michael George Rosenbaum sold 23,379 shares of the firm’s stock in a transaction dated 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 completion of 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 7.52 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 52,601 shares of company stock valued at $9,116,179 in the last ninety days. Corporate insiders own 0.48% of the company’s stock.

Institutional Investors Weigh In On Guidewire Software

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Massachusetts Financial Services Co. MA lifted its position in Guidewire Software by 24.7% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,426,907 shares of the technology company’s stock worth $626,918,000 after acquiring an additional 679,558 shares during the period. Linonia Partnership LP raised its position in shares of Guidewire Software by 8.4% during the 2nd quarter. Linonia Partnership LP now owns 2,395,601 shares of the technology company’s stock worth $330,329,000 after purchasing an additional 185,077 shares during the last quarter. Geode Capital Management LLC boosted its position in Guidewire Software by 0.5% during the third quarter. Geode Capital Management LLC now owns 1,330,074 shares of the technology company’s stock worth $243,580,000 after acquiring an additional 6,223 shares during the last quarter. Whale Rock Capital Management LLC lifted its position in Guidewire Software by 3.3% during the third quarter. Whale Rock Capital Management LLC now owns 972,743 shares of the technology company’s stock worth $177,954,000 after buying an additional 31,512 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. grew its stake in shares of Guidewire Software by 7.6% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 764,400 shares of the technology company’s stock valued at $139,839,000 after buying an additional 53,967 shares during the period.

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.