Wells Fargo & Company Boosts Guidewire Software (NYSE:GWRE) Price Target to $200.00

Guidewire Software (NYSE:GWRE) had its price target increased by Wells Fargo & Company from $185.00 to $200.00 in a research report report published on Thursday, Benzinga reports. Wells Fargo & Company currently has an overweight rating on the technology company’s stock.

GWRE has been the subject of several other research reports. Oppenheimer boosted their price objective on Guidewire Software from $170.00 to $185.00 and gave the company an outperform rating in a report on Friday, September 6th. Bank of America boosted their price target on Guidewire Software from $80.00 to $95.00 and gave the company an underperform rating in a report on Wednesday, June 5th. BTIG Research upped their price objective on Guidewire Software from $140.00 to $165.00 and gave the stock a buy rating in a research report on Friday, August 30th. Royal Bank of Canada lifted their target price on shares of Guidewire Software from $170.00 to $180.00 and gave the company an outperform rating in a report on Friday, September 6th. Finally, DA Davidson reissued a buy rating and set a $168.00 price target on shares of Guidewire Software in a report on Friday, September 6th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, Guidewire Software currently has a consensus rating of Moderate Buy and an average price target of $170.92.

Guidewire Software Stock Up 1.0 %

Shares of NYSE:GWRE opened at $184.22 on Thursday. Guidewire Software has a 52-week low of $85.15 and a 52-week high of $184.96. The stock has a market cap of $15.23 billion, a price-to-earnings ratio of -1,417.08 and a beta of 1.19. The business has a 50-day moving average price of $158.33 and a 200-day moving average price of $136.31.

Guidewire Software (NYSE:GWRE) last announced its quarterly earnings data 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 net margin of 0.62% and a negative return on equity of 1.29%. The business’s quarterly revenue was up 8.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.30 EPS. As a group, equities analysts anticipate that Guidewire Software will post 0.49 EPS for the current fiscal year.

Insider Buying and Selling

In other Guidewire Software news, CEO Michael George Rosenbaum sold 23,379 shares of the 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 completion of the transaction, the chief executive officer now owns 287,662 shares of the company’s stock, valued at $49,523,889.92. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Michael George Rosenbaum sold 23,379 shares of the business’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 transaction, the chief executive officer now directly owns 287,662 shares in the company, 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 legal filing with the SEC, which can be accessed through the SEC website. Also, insider John P. Mullen sold 1,350 shares of the company’s stock in a transaction dated Friday, July 19th. The shares were sold at an average price of $139.12, for a total transaction of $187,812.00. Following the sale, the insider now directly owns 139,171 shares of the company’s stock, valued at approximately $19,361,469.52. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 52,601 shares of company stock worth $8,984,892. Insiders own 0.38% of the company’s stock.

Institutional Investors Weigh In On Guidewire Software

A number of hedge funds have recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in shares of Guidewire Software by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 8,134,952 shares of the technology company’s stock worth $949,430,000 after buying an additional 67,439 shares during the last quarter. Wasatch Advisors LP increased its stake in Guidewire Software by 4.2% during the first quarter. Wasatch Advisors LP now owns 2,874,758 shares of the technology company’s stock worth $335,513,000 after acquiring an additional 115,600 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in Guidewire Software by 23.2% during the second quarter. Massachusetts Financial Services Co. MA now owns 2,747,349 shares of the technology company’s stock worth $378,832,000 after acquiring an additional 516,942 shares during the last quarter. Linonia Partnership LP raised its position in Guidewire Software by 8.4% in the second quarter. Linonia Partnership LP now owns 2,395,601 shares of the technology company’s stock valued at $330,329,000 after purchasing an additional 185,077 shares during the period. Finally, Whale Rock Capital Management LLC lifted its stake in shares of Guidewire Software by 23.4% in the 1st quarter. Whale Rock Capital Management LLC now owns 1,270,870 shares of the technology company’s stock valued at $148,323,000 after purchasing an additional 240,622 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.