Guidewire Software (NYSE:GWRE) Stock Price Expected to Rise, Oppenheimer Analyst Says

Guidewire Software (NYSE:GWRE) had its target price raised by Oppenheimer from $200.00 to $220.00 in a research report report published on Tuesday morning,Benzinga reports. Oppenheimer currently has an outperform rating on the technology company’s stock.

Other equities analysts also recently issued reports about the stock. Citigroup upped 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. Robert W. Baird increased their target price on shares of Guidewire Software from $204.00 to $220.00 and gave the company an “outperform” rating in a research report on Tuesday. BTIG Research upped 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. Royal Bank of Canada boosted their price target on Guidewire Software from $180.00 to $215.00 and gave the company an “outperform” rating in a research note on Friday, October 11th. Finally, JPMorgan Chase & Co. raised their price objective on Guidewire Software from $170.00 to $210.00 and gave the stock an “overweight” rating in a research note on Thursday, October 3rd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $183.69.

Guidewire Software Trading Up 1.5 %

NYSE GWRE opened at $202.77 on Tuesday. The stock’s fifty day moving average price is $185.74 and its 200-day moving average price is $154.29. Guidewire Software has a 12 month low of $95.02 and a 12 month high of $202.99. The stock has a market cap of $16.94 billion, a P/E ratio of -2,534.93, a P/E/G ratio of 50.80 and a beta of 1.18.

Guidewire Software (NYSE:GWRE) last posted its quarterly earnings results on Thursday, September 5th. The technology company reported $0.62 earnings per share 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 during the quarter, compared to analyst estimates of $283.84 million. During the same period in the prior year, the business posted $0.30 earnings per share. The company’s revenue was up 8.0% on a year-over-year basis. As a group, analysts forecast that Guidewire Software will post 0.53 earnings per share for the current fiscal year.

Insider Transactions at Guidewire Software

In related news, CFO Jeffrey Elliott Cooper sold 10,334 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $172.16, for a total value of $1,779,101.44. Following the completion of the transaction, the chief financial officer now directly owns 83,367 shares of the company’s stock, valued at $14,352,462.72. This represents a 11.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Michael George Rosenbaum sold 23,379 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $172.16, for a total transaction of $4,024,928.64. Following the sale, the chief executive officer now owns 287,662 shares of the company’s stock, valued at $49,523,889.92. This represents a 7.52 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 52,601 shares of company stock valued at $9,116,179. 0.48% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Guidewire Software

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Virtu Financial LLC increased its position in shares of Guidewire Software by 649.4% during the third quarter. Virtu Financial LLC now owns 14,650 shares of the technology company’s stock worth $2,680,000 after purchasing an additional 12,695 shares in the last quarter. Neo Ivy Capital Management purchased a new stake in Guidewire Software in the third quarter valued at approximately $1,774,000. Coldstream Capital Management Inc. boosted its holdings in shares of Guidewire Software by 11.2% in the third quarter. Coldstream Capital Management Inc. now owns 1,814 shares of the technology company’s stock valued at $335,000 after acquiring an additional 182 shares during the period. Geode Capital Management LLC increased its holdings 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 period. Finally, Orion Portfolio Solutions LLC raised its position in Guidewire Software by 0.7% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 21,302 shares of the technology company’s stock valued at $3,897,000 after purchasing an additional 149 shares during the last quarter.

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.