Citigroup Raises Guidewire Software (NYSE:GWRE) Price Target to $247.00

Guidewire Software (NYSE:GWRE) had its price target increased by Citigroup from $199.00 to $247.00 in a report released on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the technology company’s stock. Citigroup’s price target indicates a potential downside of 3.27% from the company’s previous close.

A number of other research firms have also recently commented on GWRE. Wells Fargo & Company boosted their target price on shares of Guidewire Software from $220.00 to $265.00 and gave the stock an “overweight” rating in a research note on Wednesday. Stifel Nicolaus boosted their price objective on Guidewire Software from $230.00 to $270.00 and gave the stock a “buy” rating in a research note on Wednesday. Needham & Company LLC restated a “hold” rating on shares of Guidewire Software in a research report on Wednesday. Bank of America lifted their price target on Guidewire Software from $135.00 to $160.00 and gave the stock an “underperform” rating in a research note on Wednesday. Finally, Oppenheimer increased their price objective on Guidewire Software from $230.00 to $275.00 and gave the company an “outperform” rating in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $247.00.

Guidewire Software Stock Performance

NYSE GWRE opened at $255.36 on Thursday. The stock has a market capitalization of $21.42 billion, a price-to-earnings ratio of 709.34, a PEG ratio of 37.21 and a beta of 1.15. The stock has a 50-day moving average of $204.44 and a 200 day moving average of $195.53. The company has a current ratio of 2.66, a quick ratio of 2.66 and a debt-to-equity ratio of 0.53. Guidewire Software has a twelve month low of $129.02 and a twelve month high of $263.20.

Guidewire Software (NYSE:GWRE) last announced its earnings results on Tuesday, June 3rd. The technology company reported $0.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.47 by $0.41. Guidewire Software had a return on equity of 2.38% and a net margin of 2.91%. The firm had revenue of $293.51 million for the quarter, compared to analyst estimates of $286.40 million. During the same quarter last year, the firm posted $0.26 EPS. The business’s revenue was up 22.0% on a year-over-year basis. Sell-side analysts anticipate that Guidewire Software will post 0.52 EPS for the current fiscal year.

Insider Buying and Selling at Guidewire Software

In related news, CFO Jeffrey Elliott Cooper sold 1,956 shares of the firm’s stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $189.41, for a total transaction of $370,485.96. Following the completion of the sale, the chief financial officer now directly owns 71,538 shares of the company’s stock, valued at approximately $13,550,012.58. This trade represents a 2.66% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Michael George Rosenbaum sold 1,400 shares of the business’s stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $215.25, for a total transaction of $301,350.00. Following the completion of the sale, the chief executive officer now owns 250,193 shares in the company, valued at approximately $53,854,043.25. This trade represents a 0.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 28,671 shares of company stock worth $5,471,104 in the last ninety days. 0.48% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. ANB Bank raised its stake in shares of Guidewire Software by 3.5% in the 1st quarter. ANB Bank now owns 1,590 shares of the technology company’s stock valued at $298,000 after acquiring an additional 54 shares during the period. Smartleaf Asset Management LLC increased its holdings in Guidewire Software by 10.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 595 shares of the technology company’s stock valued at $100,000 after purchasing an additional 56 shares during the last quarter. Norden Group LLC raised its position in Guidewire Software by 5.2% in the fourth quarter. Norden Group LLC now owns 1,232 shares of the technology company’s stock valued at $208,000 after purchasing an additional 61 shares during the period. Brooklyn Investment Group raised its position in Guidewire Software by 38.3% in the first quarter. Brooklyn Investment Group now owns 224 shares of the technology company’s stock valued at $42,000 after purchasing an additional 62 shares during the period. Finally, MassMutual Private Wealth & Trust FSB lifted its stake in Guidewire Software by 70.0% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 170 shares of the technology company’s stock worth $32,000 after purchasing an additional 70 shares in 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.