Guidewire Software (NYSE:GWRE - Get Free Report) had its target price boosted by stock analysts at Wells Fargo & Company from $215.00 to $220.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has an "overweight" rating on the technology company's stock. Wells Fargo & Company's price objective points to a potential upside of 23.89% from the company's previous close.
A number of other equities research analysts have also recently commented on the stock. Needham & Company LLC reiterated a "hold" rating on shares of Guidewire Software in a report on Friday. BTIG Research lifted their target price on Guidewire Software from $140.00 to $165.00 and gave the stock a "buy" rating in a report on Friday, August 30th. Citigroup increased their price objective on Guidewire Software from $123.00 to $165.00 and gave the company a "neutral" rating in a research report on Monday, September 9th. JMP Securities reissued a "market outperform" rating and issued a $231.00 target price on shares of Guidewire Software in a research report on Friday. Finally, DA Davidson restated a "buy" rating and set a $210.00 target price on shares of Guidewire Software in a research note on Wednesday. One investment 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, Guidewire Software presently has a consensus rating of "Moderate Buy" and a consensus price target of $193.00.
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Guidewire Software Stock Down 14.0 %
Shares of Guidewire Software stock traded down $29.00 during trading on Friday, hitting $177.57. 4,582,067 shares of the stock traded hands, compared to its average volume of 737,541. The stock has a market cap 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 has a 52 week low of $95.02 and a 52 week high of $209.15. The firm's fifty day moving average is $191.58 and its 200-day moving average is $160.55.
Guidewire Software (NYSE:GWRE - Get Free Report) last issued its quarterly 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 return on equity of 1.29% and a negative net margin of 0.62%. The company had revenue of $291.50 million for the quarter, compared to analysts' expectations of $283.84 million. During the same period in the prior year, the firm earned $0.30 earnings per share. The firm's revenue for the quarter was up 8.0% on a year-over-year basis. On average, analysts forecast that Guidewire Software will post 0.53 earnings per share for the current fiscal year.
Insider Activity
In other Guidewire Software news, President John P. Mullen sold 1,350 shares of the firm's stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $187.68, for a total transaction of $253,368.00. Following the sale, the president now directly owns 190,611 shares of the company's stock, valued at $35,773,872.48. This trade represents a 0.70 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael George Rosenbaum sold 23,379 shares of the business's 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 transaction, the chief executive officer now directly owns 287,662 shares in the company, valued at $49,523,889.92. This trade represents a 7.52 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 52,601 shares of company stock valued at $9,116,179 in the last 90 days. Company insiders own 0.48% of the company's stock.
Institutional Trading of Guidewire Software
Several hedge funds have recently modified their holdings of the company. Cetera Investment Advisers raised its position in Guidewire Software by 648.0% during the first quarter. Cetera Investment Advisers now owns 18,117 shares of the technology company's stock valued at $2,114,000 after purchasing an additional 15,695 shares during the period. Icon Wealth Advisors LLC boosted its stake in shares of Guidewire Software by 72.4% during the third quarter. Icon Wealth Advisors LLC now owns 5,984 shares of the technology company's stock valued at $1,095,000 after purchasing an additional 2,512 shares during the period. Parkside Financial Bank & Trust grew its holdings in shares of Guidewire Software by 8.0% in the second quarter. Parkside Financial Bank & Trust now owns 2,215 shares of the technology company's stock worth $305,000 after purchasing an additional 165 shares during the last quarter. Cerity Partners LLC lifted its holdings in Guidewire Software by 326.8% during the 3rd quarter. Cerity Partners LLC now owns 21,799 shares of the technology company's stock valued at $3,988,000 after buying an additional 16,692 shares in the last quarter. Finally, Xponance Inc. lifted its holdings in Guidewire Software by 79.8% during the 2nd quarter. Xponance Inc. now owns 6,908 shares of the technology company's stock valued at $953,000 after buying an additional 3,066 shares in the last quarter.
About Guidewire Software
(
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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.
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