JMP Securities Reaffirms "Market Outperform" Rating for Guidewire Software (NYSE:GWRE)

JMP Securities restated their market outperform rating on shares of Guidewire Software (NYSE:GWRE - Free Report) in a report issued on Friday,Benzinga reports. JMP Securities currently has a $231.00 price objective on the technology company's stock.

Several other research analysts have also weighed in on the company. JPMorgan Chase & Co. lifted their target price on Guidewire Software from $170.00 to $210.00 and gave the stock an "overweight" rating in a report on Thursday, October 3rd. Wells Fargo & Company boosted their price objective on Guidewire Software from $205.00 to $215.00 and gave the company an "overweight" rating in a research report on Tuesday, November 19th. BTIG Research raised their target price on shares of Guidewire Software from $140.00 to $165.00 and gave the stock a "buy" rating in a report on Friday, August 30th. Stifel Nicolaus upped their price target on shares of Guidewire Software from $200.00 to $220.00 and gave the company a "buy" rating in a report on Tuesday, November 19th. Finally, Royal Bank of Canada restated an "outperform" rating and set a $215.00 price objective on shares of Guidewire Software in a report on Tuesday, November 19th. One equities research 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. According to data from MarketBeat, Guidewire Software has an average rating of "Moderate Buy" and an average target price of $193.00.

Guidewire Software Stock Performance

NYSE:GWRE traded down $29.00 during mid-day 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 firm has a market cap of $14.83 billion, a P/E ratio of 493.25, a P/E/G ratio of 53.58 and a beta of 1.18. Guidewire Software has a fifty-two week low of $95.02 and a fifty-two week high of $209.15. The business's fifty day moving average is $191.58 and its two-hundred day moving average is $160.55.

Guidewire Software (NYSE:GWRE - Get Free Report) last posted its earnings results on Thursday, September 5th. The technology company reported $0.62 earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $291.50 million for the quarter, compared to analyst estimates of $283.84 million. During the same period last year, the business posted $0.30 earnings per share. The business's revenue for the quarter was up 8.0% compared to the same quarter last year. Equities analysts forecast that Guidewire Software will post 0.53 earnings per share for the current year.

Insider Activity at Guidewire Software

In related news, President John P. Mullen sold 1,350 shares of the firm's stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $197.72, for a total value of $266,922.00. Following the completion of the sale, the president now directly owns 189,261 shares in the company, valued at approximately $37,420,684.92. This trade represents a 0.71 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Michael George Rosenbaum sold 23,379 shares of Guidewire Software stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $172.16, for a total value of $4,024,928.64. Following the transaction, the chief executive officer now owns 287,662 shares of the company's stock, valued at $49,523,889.92. The trade was a 7.52 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 52,601 shares of company stock valued at $9,116,179. 0.48% of the stock is owned by insiders.

Institutional Investors Weigh In On Guidewire Software

Large investors have recently added to or reduced their stakes in the business. Assetmark Inc. increased its holdings in shares of Guidewire Software by 537.0% in the third quarter. Assetmark Inc. now owns 172 shares of the technology company's stock valued at $31,000 after purchasing an additional 145 shares during the last quarter. Point72 Hong Kong Ltd bought a new stake in shares of Guidewire Software during the 3rd quarter worth about $33,000. Rothschild Investment LLC bought a new stake in shares of Guidewire Software during the 2nd quarter worth about $31,000. Brooklyn Investment Group acquired a new position in Guidewire Software in the 3rd quarter valued at about $42,000. Finally, DT Investment Partners LLC bought a new position in Guidewire Software in the 2nd quarter valued at about $41,000.

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.