Guidewire Software (NYSE:GWRE) Upgraded to “Equal Weight” at Wells Fargo & Company

Wells Fargo & Company upgraded shares of Guidewire Software (NYSE:GWRE) from an underweight rating to an equal weight rating in a report issued on Thursday, Marketbeat reports. They currently have $85.00 price objective on the technology company’s stock, up from their previous price objective of $65.00.

GWRE has been the topic of several other reports. DA Davidson boosted their price target on Guidewire Software from $90.00 to $94.00 in a report on Wednesday, May 31st. Stifel Nicolaus upgraded Guidewire Software from a hold rating to a buy rating and boosted their price target for the stock from $75.00 to $85.00 in a report on Tuesday, June 27th. Oppenheimer boosted their price target on Guidewire Software from $85.00 to $95.00 in a report on Friday, June 2nd. StockNews.com started coverage on Guidewire Software in a report on Thursday, August 17th. They set a hold rating on the stock. Finally, 58.com reaffirmed a maintains rating on shares of Guidewire Software in a research note on Friday, June 2nd. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of Moderate Buy and an average target price of $87.82.

Guidewire Software Stock Up 3.1 %

GWRE stock opened at $86.43 on Thursday. Guidewire Software has a 52 week low of $52.08 and a 52 week high of $86.99. The company has a quick ratio of 3.65, a current ratio of 3.65 and a debt-to-equity ratio of 0.33. The business has a 50-day simple moving average of $79.30 and a 200 day simple moving average of $77.20. The company has a market cap of $7.04 billion, a PE ratio of -46.22 and a beta of 1.23.

Guidewire Software (NYSE:GWRE) last released its earnings results on Thursday, June 1st. The technology company reported ($0.45) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.01). Guidewire Software had a negative net margin of 17.63% and a negative return on equity of 12.14%. The business had revenue of $207.49 million during the quarter, compared to the consensus estimate of $214.08 million. During the same quarter in the prior year, the firm earned ($0.61) EPS. Sell-side analysts anticipate that Guidewire Software will post -1.69 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Jeffrey Elliott Cooper sold 2,572 shares of the business’s stock in a transaction that occurred on Tuesday, June 20th. The stock was sold at an average price of $71.13, for a total transaction of $182,946.36. Following the transaction, the chief financial officer now directly owns 58,327 shares of the company’s stock, valued at $4,148,799.51. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Michael George Rosenbaum sold 7,584 shares of the company’s stock in a transaction on Tuesday, June 20th. The stock was sold at an average price of $71.13, for a total transaction of $539,449.92. Following the completion of the sale, the chief executive officer now owns 188,016 shares in the company, valued at $13,373,578.08. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Jeffrey Elliott Cooper sold 2,572 shares of the company’s stock in a transaction dated Tuesday, June 20th. The stock was sold at an average price of $71.13, for a total value of $182,946.36. Following the completion of the sale, the chief financial officer now owns 58,327 shares of the company’s stock, valued at approximately $4,148,799.51. The disclosure for this sale can be found here. Insiders have sold 13,187 shares of company stock valued at $937,981 in the last ninety days. Company insiders own 0.17% of the company’s stock.

Institutional Trading of Guidewire Software

Several institutional investors have recently made changes to their positions in GWRE. HighTower Advisors LLC boosted its stake in Guidewire Software by 5.5% during the first quarter. HighTower Advisors LLC now owns 13,825 shares of the technology company’s stock valued at $1,311,000 after buying an additional 726 shares during the last quarter. Cetera Advisor Networks LLC boosted its stake in Guidewire Software by 6.6% during the first quarter. Cetera Advisor Networks LLC now owns 4,428 shares of the technology company’s stock valued at $419,000 after buying an additional 276 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new position in Guidewire Software during the first quarter valued at approximately $253,000. MetLife Investment Management LLC bought a new position in Guidewire Software during the first quarter valued at approximately $159,000. Finally, Raymond James Trust N.A. boosted its stake in Guidewire Software by 2.0% during the first quarter. Raymond James Trust N.A. now owns 10,089 shares of the technology company’s stock valued at $955,000 after buying an additional 195 shares during the last quarter. Hedge funds and other institutional investors own 98.28% of the company’s stock.

About Guidewire Software

Guidewire Software, Inc provides software products for property and casualty (P&C) insurers worldwide. The company offers Guidewire InsuranceSuite Cloud comprising 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.