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

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

Several other equities research analysts have also issued reports on GWRE. Needham & Company LLC reissued a “hold” rating on shares of Guidewire Software in a report on Friday, October 11th. Oppenheimer boosted their price target on shares of Guidewire Software from $200.00 to $220.00 and gave the company an “outperform” rating in a report on Tuesday, November 19th. DA Davidson reissued a “buy” rating and issued a $168.00 price target on shares of Guidewire Software in a report on Friday, September 6th. Royal Bank of Canada reissued an “outperform” rating and issued a $215.00 price target on shares of Guidewire Software in a report on Tuesday, November 19th. Finally, Citigroup boosted their price target on shares of Guidewire Software from $123.00 to $165.00 and gave the company a “neutral” rating in a report on Monday, September 9th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $186.08.

Guidewire Software Trading Down 1.3 %

Shares of Guidewire Software stock opened at $201.88 on Monday. The firm has a fifty day simple moving average of $188.18 and a 200-day simple moving average of $156.97. Guidewire Software has a 1-year low of $95.02 and a 1-year high of $207.10. The stock has a market capitalization of $16.86 billion, a price-to-earnings ratio of -2,523.18, a PEG ratio of 52.54 and a beta of 1.18.

Guidewire Software (NYSE:GWRE) last announced its earnings results on Thursday, September 5th. The technology company reported $0.62 earnings per share (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 business had revenue of $291.50 million for the quarter, compared to analyst estimates of $283.84 million. During the same quarter in the previous year, the firm posted $0.30 earnings per share. Guidewire Software’s revenue was up 8.0% compared to the same quarter last year. As a group, research analysts predict that Guidewire Software will post 0.53 earnings per share for the current year.

Insider Activity

In related news, insider John P. Mullen sold 6,718 shares of the company’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 $1,156,570.88. Following the transaction, the insider now owns 160,099 shares in the company, valued at $27,562,643.84. This represents a 4.03 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael George Rosenbaum sold 23,379 shares of the company’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 owns 287,662 shares in the company, valued at approximately $49,523,889.92. The trade was a 7.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 52,601 shares of company stock worth $9,116,179. Corporate insiders own 0.48% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. 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 valued at $626,918,000 after purchasing an additional 679,558 shares during the period. Linonia Partnership LP lifted its position in Guidewire Software by 8.4% during the 2nd 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. Geode Capital Management LLC increased its stake in shares of 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 valued at $243,580,000 after acquiring an additional 6,223 shares during the last quarter. Whale Rock Capital Management LLC increased its stake in shares of 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 valued at $177,954,000 after acquiring an additional 31,512 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. increased 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 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.