Wells Fargo & Company Forecasts Strong Price Appreciation for Guidewire Software (NYSE:GWRE) Stock

Guidewire Software (NYSE:GWRE) had its price objective hoisted by Wells Fargo & Company from $205.00 to $215.00 in a research note published on Tuesday,Benzinga reports. The firm currently has an overweight rating on the technology company’s stock.

Several other equities research analysts also recently issued reports on the company. Royal Bank of Canada increased their price target on Guidewire Software from $180.00 to $215.00 and gave the stock an “outperform” rating in a report on Friday, October 11th. BTIG Research increased their price objective on shares of Guidewire Software from $140.00 to $165.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. The Goldman Sachs Group raised their price objective on shares of Guidewire Software from $146.00 to $170.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. JPMorgan Chase & Co. upped their target price on shares of Guidewire Software from $170.00 to $210.00 and gave the stock an “overweight” rating in a research note on Thursday, October 3rd. Finally, Robert W. Baird lifted their price target on Guidewire Software from $204.00 to $220.00 and gave the company an “outperform” rating in a research note on Tuesday. One analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Guidewire Software has an average rating of “Moderate Buy” and a consensus price target of $183.69.

Guidewire Software Trading Up 1.4 %

Guidewire Software stock opened at $200.00 on Tuesday. The firm has a market capitalization of $16.70 billion, a P/E ratio of -2,499.64, a PEG ratio of 50.80 and a beta of 1.18. The business has a 50-day moving average of $185.74 and a 200-day moving average of $154.29. Guidewire Software has a 1 year low of $95.02 and a 1 year high of $201.60.

Guidewire Software (NYSE:GWRE) last issued its quarterly earnings data on Thursday, September 5th. The technology company reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.54 by $0.08. The firm 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 revenue for the quarter was up 8.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.30 earnings per share. Research analysts anticipate that Guidewire Software will post 0.53 EPS for the current fiscal year.

Insider Buying and Selling at Guidewire Software

In other Guidewire Software news, insider James Winston King sold 4,514 shares of the firm’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $172.66, for a total transaction of $779,387.24. Following the completion of the sale, the insider now owns 48,237 shares of the company’s stock, valued at $8,328,600.42. This trade represents a 8.56 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, President John P. Mullen sold 1,350 shares of Guidewire Software stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $197.72, for a total transaction of $266,922.00. Following the transaction, the president now directly owns 189,261 shares of the company’s stock, valued at approximately $37,420,684.92. This trade represents a 0.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 52,601 shares of company stock worth $9,116,179 over the last ninety days. 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 modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. raised its holdings in Guidewire Software by 21.1% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 345 shares of the technology company’s stock valued at $63,000 after acquiring an additional 60 shares during the period. Allspring Global Investments Holdings LLC increased its stake in shares of Guidewire Software by 4.0% during the second quarter. Allspring Global Investments Holdings LLC now owns 2,050 shares of the technology company’s stock worth $283,000 after purchasing an additional 79 shares during the period. CIBC Asset Management Inc lifted its holdings in Guidewire Software by 3.7% during the 3rd quarter. CIBC Asset Management Inc now owns 2,451 shares of the technology company’s stock worth $448,000 after purchasing an additional 87 shares during the last quarter. Vanguard Personalized Indexing Management LLC boosted its stake in Guidewire Software by 1.3% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 9,078 shares of the technology company’s stock valued at $1,252,000 after purchasing an additional 116 shares during the period. Finally, CHICAGO TRUST Co NA increased its position in Guidewire Software by 4.8% during the 2nd quarter. CHICAGO TRUST Co NA now owns 2,845 shares of the technology company’s stock worth $392,000 after buying an additional 130 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.