Guidewire Software (NYSE:GWRE) PT Raised to $100.00 at JPMorgan Chase & Co.

Guidewire Software (NYSE:GWRE) had its target price lifted by stock analysts at JPMorgan Chase & Co. from $83.00 to $100.00 in a research report issued on Friday, MarketBeat reports. The firm currently has an “overweight” rating on the technology company’s stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 6.21% from the stock’s previous close.

Other equities analysts have also issued reports about the stock. 58.com restated a “maintains” rating on shares of Guidewire Software in a research report on Friday, June 2nd. DA Davidson boosted their price target on shares of Guidewire Software from $90.00 to $94.00 in a research report on Wednesday, May 31st. Oppenheimer increased their price target on shares of Guidewire Software from $85.00 to $95.00 in a research note on Friday, June 2nd. JMP Securities increased their price target on shares of Guidewire Software from $95.00 to $100.00 and gave the company a “market outperform” rating in a research note on Friday. Finally, Stifel Nicolaus increased their price target on shares of Guidewire Software from $85.00 to $95.00 and gave the company a “buy” rating in a research note on Friday. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Guidewire Software currently has a consensus rating of “Moderate Buy” and an average price target of $92.64.

Guidewire Software Stock Up 11.0 %

GWRE stock opened at $94.15 on Friday. The stock has a market capitalization of $7.67 billion, a P/E ratio of -69.74 and a beta of 1.21. The firm has a 50-day simple moving average of $81.30 and a 200-day simple moving average of $77.85. The company has a quick ratio of 3.65, a current ratio of 3.65 and a debt-to-equity ratio of 0.33. Guidewire Software has a 52 week low of $52.08 and a 52 week high of $95.88.

Guidewire Software (NYSE:GWRE) last released its earnings results on Thursday, September 7th. The technology company reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.36. The business had revenue of $270.00 million during the quarter, compared to analysts’ expectations of $261.38 million. Guidewire Software had a negative net margin of 12.35% and a negative return on equity of 8.40%. The company’s quarterly revenue was up 10.4% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.31) earnings per share. Equities analysts forecast that Guidewire Software will post -0.92 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Guidewire Software news, COO Priscilla Hung sold 1,981 shares of the stock in a transaction that occurred on Tuesday, June 20th. The shares were sold at an average price of $71.13, for a total transaction of $140,908.53. Following the sale, the chief operating officer now directly owns 52,154 shares in the company, valued at approximately $3,709,714.02. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, CFO Jeffrey Elliott Cooper sold 2,572 shares of the firm’s stock in a transaction on Tuesday, June 20th. The shares were sold at an average price of $71.13, for a total value of $182,946.36. Following the sale, the chief financial officer now directly owns 58,327 shares in the company, valued at approximately $4,148,799.51. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Priscilla Hung sold 1,981 shares of the firm’s stock in a transaction on Tuesday, June 20th. The shares were sold at an average price of $71.13, for a total transaction of $140,908.53. Following the completion of the sale, the chief operating officer now owns 52,154 shares in the company, valued at $3,709,714.02. The disclosure for this sale can be found here. Insiders have sold a total of 13,229 shares of company stock worth $941,620 in the last ninety days. 0.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Guidewire Software

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Portside Wealth Group LLC acquired a new stake in shares of Guidewire Software in the 2nd quarter valued at $2,595,000. Alberta Investment Management Corp raised its stake in Guidewire Software by 83.2% during the 2nd quarter. Alberta Investment Management Corp now owns 30,323 shares of the technology company’s stock worth $2,307,000 after acquiring an additional 13,770 shares in the last quarter. Comerica Bank acquired a new stake in Guidewire Software during the 2nd quarter worth $180,000. Neo Ivy Capital Management acquired a new stake in Guidewire Software during the 2nd quarter worth $459,000. Finally, Alliancebernstein L.P. raised its stake in Guidewire Software by 5.8% during the 2nd quarter. Alliancebernstein L.P. now owns 42,079 shares of the technology company’s stock worth $3,201,000 after acquiring an additional 2,300 shares in the last quarter. 98.28% of the stock is currently owned by institutional investors and hedge funds.

Guidewire Software Company Profile

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.