Guidewire Software (NYSE:GWRE) Price Target Raised to $288.00 at JPMorgan Chase & Co.

Guidewire Software (NYSE:GWRE) had its price target raised by JPMorgan Chase & Co. from $271.00 to $288.00 in a research note issued to investors on Wednesday morning,Benzinga reports. The firm currently has an overweight rating on the technology company’s stock.

Several other equities analysts have also weighed in on the company. Wall Street Zen raised Guidewire Software from a “hold” rating to a “buy” rating in a research note on Friday, June 6th. DA Davidson reissued a “neutral” rating and issued a $226.00 target price on shares of Guidewire Software in a research note on Wednesday, June 4th. Stifel Nicolaus increased their target price on Guidewire Software from $230.00 to $270.00 and gave the company a “buy” rating in a research note on Wednesday, June 4th. Raymond James Financial increased their target price on Guidewire Software from $225.00 to $255.00 and gave the company an “outperform” rating in a research note on Wednesday, June 4th. Finally, Bank of America increased their target price on Guidewire Software from $135.00 to $160.00 and gave the company an “underperform” rating in a research note on Wednesday, June 4th. 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 company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $248.31.

Guidewire Software Trading Down 0.7%

Shares of GWRE opened at $235.83 on Wednesday. The company has a quick ratio of 3.23, a current ratio of 3.23 and a debt-to-equity ratio of 0.49. Guidewire Software has a 12-month low of $132.01 and a 12-month high of $263.20. The firm has a market capitalization of $19.85 billion, a PE ratio of 589.58, a price-to-earnings-growth ratio of 23.32 and a beta of 1.15. The stock’s fifty day simple moving average is $220.49 and its 200-day simple moving average is $199.66.

Guidewire Software (NYSE:GWRE) last issued its quarterly earnings results on Tuesday, June 3rd. The technology company reported $0.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.41. Guidewire Software had a return on equity of 6.96% and a net margin of 3.04%. The business had revenue of $293.51 million for the quarter, compared to analyst estimates of $286.40 million. During the same quarter in the prior year, the firm posted $0.26 earnings per share. The firm’s revenue for the quarter was up 22.0% compared to the same quarter last year. As a group, research analysts predict that Guidewire Software will post 0.52 earnings per share for the current year.

Insider Transactions at Guidewire Software

In other Guidewire Software news, Director Michael C. Keller sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 24th. The stock was sold at an average price of $237.53, for a total value of $237,530.00. Following the completion of the transaction, the director now directly owns 10,410 shares in the company, valued at $2,472,687.30. This trade represents a 8.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Michael George Rosenbaum sold 1,400 shares of the firm’s stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $184.41, for a total value of $258,174.00. Following the completion of the transaction, the chief executive officer now owns 259,993 shares of the company’s stock, valued at approximately $47,945,309.13. This represents a 0.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 18,160 shares of company stock valued at $3,779,767 over the last 90 days. 0.48% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in GWRE. SBI Securities Co. Ltd. lifted its holdings in Guidewire Software by 403.8% during the 1st quarter. SBI Securities Co. Ltd. now owns 131 shares of the technology company’s stock worth $25,000 after purchasing an additional 105 shares during the last quarter. Advisors Asset Management Inc. acquired a new position in Guidewire Software in the 1st quarter valued at $25,000. Quarry LP bought a new position in shares of Guidewire Software in the 1st quarter valued at $28,000. Rise Advisors LLC bought a new position in shares of Guidewire Software in the 1st quarter valued at $31,000. Finally, MassMutual Private Wealth & Trust FSB increased its stake in shares of Guidewire Software by 70.0% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 170 shares of the technology company’s stock valued at $32,000 after purchasing an additional 70 shares during 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.