JMP Securities Boosts Guidewire Software (NYSE:GWRE) Price Target to $231.00

Guidewire Software (NYSE:GWRE) had its price objective hoisted by JMP Securities from $200.00 to $231.00 in a report issued on Monday morning,Benzinga reports. JMP Securities currently has a market outperform rating on the technology company’s stock.

Other equities research analysts also recently issued reports about the company. BTIG Research boosted their target price on Guidewire Software from $140.00 to $165.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. Stifel Nicolaus boosted their target price on Guidewire Software from $200.00 to $220.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. Citigroup boosted their target price on Guidewire Software from $123.00 to $165.00 and gave the stock a “neutral” rating in a research report on Monday, September 9th. Royal Bank of Canada restated an “outperform” rating and set a $215.00 price objective on shares of Guidewire Software in a research report on Tuesday, November 19th. Finally, JPMorgan Chase & Co. upped their price objective on Guidewire Software from $170.00 to $210.00 and gave the company an “overweight” rating in a research report on Thursday, October 3rd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $186.08.

Guidewire Software Stock Down 1.3 %

NYSE:GWRE opened at $201.88 on Monday. The business’s 50-day simple moving average is $187.59 and its two-hundred day simple moving average is $156.66. The stock has a market cap of $16.86 billion, a PE ratio of -2,541.93, a P/E/G ratio of 52.54 and a beta of 1.18. Guidewire Software has a 52 week low of $95.02 and a 52 week high of $207.10.

Guidewire Software (NYSE:GWRE) last posted its earnings results on Thursday, September 5th. The technology company reported $0.62 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 for the quarter was up 8.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.30 earnings per share. Sell-side analysts anticipate that Guidewire Software will post 0.53 earnings per share for the current fiscal year.

Insider Buying and Selling at Guidewire Software

In other news, CEO Michael George Rosenbaum sold 23,379 shares of the stock in a transaction 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 sale, the chief executive officer now owns 287,662 shares in the company, valued at approximately $49,523,889.92. This represents a 7.52 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider John P. Mullen sold 6,718 shares of the stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $172.16, for a total value of $1,156,570.88. Following the sale, the insider now owns 160,099 shares of the company’s stock, valued at approximately $27,562,643.84. This represents a 4.03 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 52,601 shares of company stock valued at $9,116,179. 0.48% of the stock is currently owned by corporate insiders.

Institutional Trading of Guidewire Software

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Massachusetts Financial Services Co. MA lifted its holdings in shares of 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 valued at $626,918,000 after purchasing an additional 679,558 shares during the last quarter. Linonia Partnership LP raised its stake in Guidewire Software by 8.4% in the 2nd quarter. Linonia Partnership LP now owns 2,395,601 shares of the technology company’s stock worth $330,329,000 after acquiring an additional 185,077 shares during the last quarter. Geode Capital Management LLC raised its stake in Guidewire Software by 0.5% in the 3rd 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 raised its stake in Guidewire Software by 3.3% in the 3rd quarter. Whale Rock Capital Management LLC now owns 972,743 shares of the technology company’s stock worth $177,954,000 after acquiring an additional 31,512 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its stake in 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 worth $139,839,000 after acquiring an additional 53,967 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.