Guidewire Software (NYSE:GWRE) Price Target Raised to $230.00

Guidewire Software (NYSE:GWRE - Free Report) had its price target boosted by Royal Bank of Canada from $215.00 to $230.00 in a research report released on Friday,Benzinga reports. The firm currently has an outperform rating on the technology company's stock.

A number of other research analysts have also weighed in on the stock. DA Davidson reaffirmed a "buy" rating and issued a $210.00 price objective on shares of Guidewire Software in a research note on Wednesday. Citigroup boosted their price objective on Guidewire Software from $123.00 to $165.00 and gave the stock a "neutral" rating in a report on Monday, September 9th. BTIG Research raised their price objective on Guidewire Software from $140.00 to $165.00 and gave the company a "buy" rating in a research note on Friday, August 30th. Oppenheimer increased their target price on shares of Guidewire Software from $220.00 to $230.00 and gave the company an "outperform" rating in a report on Friday. Finally, JMP Securities reiterated a "market outperform" rating and issued a $231.00 price objective on shares of Guidewire Software in a research note on Friday. One analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $193.00.

Guidewire Software Stock Down 14.0 %

GWRE traded down $29.00 during midday trading on Friday, hitting $177.57. The company had a trading volume of 4,582,067 shares, compared to its average volume of 737,541. The stock's 50 day moving average price is $191.58 and its 200 day moving average price is $160.55. Guidewire Software has a 52 week low of $95.02 and a 52 week high of $209.15. The company has a market capitalization of $14.83 billion, a price-to-earnings ratio of 493.25, a PEG ratio of 53.58 and a beta of 1.18.

Guidewire Software (NYSE:GWRE - Get Free Report) last announced its quarterly earnings results on Thursday, September 5th. The technology company reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.08. The business had revenue of $291.50 million for the quarter, compared to analyst estimates of $283.84 million. Guidewire Software had a negative return on equity of 1.29% and a negative net margin of 0.62%. The company's quarterly revenue was up 8.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.30 earnings per share. Research analysts predict that Guidewire Software will post 0.53 EPS for the current year.

Insider Activity

In related news, CEO Michael George Rosenbaum sold 23,379 shares of Guidewire Software stock in a transaction 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 completion of the sale, the chief executive officer now owns 287,662 shares of the company's stock, valued at approximately $49,523,889.92. This trade represents a 7.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President John P. Mullen sold 1,350 shares of the firm's stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $187.68, for a total value of $253,368.00. Following the completion of the sale, the president now directly owns 190,611 shares in the company, valued at approximately $35,773,872.48. The trade was a 0.70 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 52,601 shares of company stock worth $9,116,179. 0.48% of the stock is owned by corporate insiders.

Institutional Trading of Guidewire Software

Hedge funds have recently made changes to their positions in the stock. Massachusetts Financial Services Co. MA boosted its stake in Guidewire Software by 24.7% in the third quarter. Massachusetts Financial Services Co. MA now owns 3,426,907 shares of the technology company's stock worth $626,918,000 after buying an additional 679,558 shares in the last quarter. Linonia Partnership LP raised its position in Guidewire Software by 8.4% in the 2nd quarter. Linonia Partnership LP now owns 2,395,601 shares of the technology company's stock worth $330,329,000 after purchasing an additional 185,077 shares during the period. Geode Capital Management LLC lifted its stake in Guidewire Software by 0.5% in the third quarter. Geode Capital Management LLC now owns 1,330,074 shares of the technology company's stock worth $243,580,000 after purchasing an additional 6,223 shares during the last quarter. Whale Rock Capital Management LLC grew its stake in shares of Guidewire Software by 3.3% during the third quarter. Whale Rock Capital Management LLC now owns 972,743 shares of the technology company's stock valued at $177,954,000 after buying an additional 31,512 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. increased its holdings in shares of Guidewire Software by 7.6% in the third quarter. Jacobs Levy Equity Management Inc. now owns 764,400 shares of the technology company's stock worth $139,839,000 after buying an additional 53,967 shares during the period.

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.