Oppenheimer Increases Guidewire Software (NYSE:GWRE) Price Target to $220.00

Guidewire Software (NYSE:GWRE) had its target price boosted by Oppenheimer from $200.00 to $220.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an “outperform” rating on the technology company’s stock. Oppenheimer’s price objective would suggest a potential upside of 13.40% from the company’s current price.

Several other research firms have also commented on GWRE. Wells Fargo & Company upped their price target on shares of Guidewire Software from $200.00 to $205.00 and gave the company an “overweight” rating in a report on Friday, October 11th. Needham & Company LLC reaffirmed a “hold” rating on shares of Guidewire Software in a report on Friday, October 11th. JPMorgan Chase & Co. upped their price target on shares of Guidewire Software from $170.00 to $210.00 and gave the company an “overweight” rating in a report on Thursday, October 3rd. Robert W. Baird raised their target price on Guidewire Software from $204.00 to $220.00 and gave the company an “outperform” rating in a research report on Tuesday. Finally, BTIG Research raised their target price on Guidewire Software from $140.00 to $165.00 and gave the company a “buy” rating in a research report on Friday, August 30th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, Guidewire Software has a consensus rating of “Moderate Buy” and an average price target of $181.38.

Guidewire Software Price Performance

Shares of GWRE opened at $194.00 on Tuesday. The firm has a market capitalization of $16.20 billion, a PE ratio of -2,424.70, a price-to-earnings-growth ratio of 49.72 and a beta of 1.18. Guidewire Software has a 1-year low of $95.02 and a 1-year high of $199.33. The company’s fifty day moving average price is $183.97 and its 200-day moving average price is $153.09.

Guidewire Software (NYSE:GWRE) last announced its quarterly earnings data on Thursday, September 5th. The technology company reported $0.62 earnings per share for the quarter, beating 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 period in the previous year, the company earned $0.30 earnings per share. The business’s quarterly revenue was up 8.0% compared to the same quarter last year. As a group, research analysts anticipate that Guidewire Software will post 0.53 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider James Winston King sold 4,514 shares of Guidewire Software stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $172.66, for a total transaction of $779,387.24. Following the sale, the insider now owns 48,237 shares of the company’s stock, valued at approximately $8,328,600.42. The trade was a 8.56 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 sale, the president now directly owns 190,611 shares in the company, valued at approximately $35,773,872.48. The trade was a 0.70 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 51,251 shares of company stock valued at $8,849,257 in the last ninety days. 0.48% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Guidewire Software

Several institutional investors have recently modified their holdings of GWRE. Vanguard Group Inc. grew its stake in shares of Guidewire Software by 0.8% in the first quarter. Vanguard Group Inc. now owns 8,134,952 shares of the technology company’s stock worth $949,430,000 after acquiring an additional 67,439 shares in the last quarter. Acadian Asset Management LLC grew its stake in shares of Guidewire Software by 91.3% in the first quarter. Acadian Asset Management LLC now owns 7,144 shares of the technology company’s stock worth $833,000 after acquiring an additional 3,409 shares in the last quarter. O Shaughnessy Asset Management LLC grew its stake in shares of Guidewire Software by 7.1% in the first quarter. O Shaughnessy Asset Management LLC now owns 4,096 shares of the technology company’s stock worth $478,000 after acquiring an additional 271 shares in the last quarter. Clearbridge Investments LLC grew its stake in shares of Guidewire Software by 121.0% in the first quarter. Clearbridge Investments LLC now owns 295,595 shares of the technology company’s stock worth $34,499,000 after acquiring an additional 161,856 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co grew its stake in shares of Guidewire Software by 2.3% in the first quarter. CANADA LIFE ASSURANCE Co now owns 27,453 shares of the technology company’s stock worth $3,208,000 after acquiring an additional 619 shares in 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.