JPMorgan Chase & Co. Issues Positive Forecast for Guidewire Software (NYSE:GWRE) Stock Price

Guidewire Software (NYSE:GWRE - Free Report) had its price target increased by JPMorgan Chase & Co. from $210.00 to $228.00 in a report published on Friday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the technology company's stock.

A number of other brokerages have also recently commented on GWRE. Wells Fargo & Company boosted their target price on shares of Guidewire Software from $215.00 to $220.00 and gave the company an "overweight" rating in a report on Friday. BTIG Research boosted their price target on Guidewire Software from $140.00 to $165.00 and gave the stock a "buy" rating in a research report on Friday, August 30th. JMP Securities reaffirmed a "market outperform" rating and set a $231.00 price objective on shares of Guidewire Software in a research report on Friday. Oppenheimer increased their target price on Guidewire Software from $220.00 to $230.00 and gave the stock an "outperform" rating in a research note on Friday. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and issued a $215.00 price target on shares of Guidewire Software in a research report on Tuesday, November 19th. 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. According to MarketBeat.com, Guidewire Software presently has a consensus rating of "Moderate Buy" and a consensus price target of $193.00.

Guidewire Software Stock Down 14.0 %

Shares of GWRE traded down $29.00 during trading hours on Friday, reaching $177.57. 4,582,067 shares of the company traded hands, compared to its average volume of 737,541. Guidewire Software has a 12 month low of $95.02 and a 12 month high of $209.15. The company's fifty day moving average price is $191.58 and its two-hundred day moving average price is $160.55. The company has a market capitalization of $14.83 billion, a price-to-earnings ratio of 493.25, a price-to-earnings-growth ratio of 53.58 and a beta of 1.18.

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 analysts' consensus estimates 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 firm had revenue of $291.50 million for the quarter, compared to the consensus estimate of $283.84 million. During the same quarter in the prior year, the business earned $0.30 EPS. The business's revenue for the quarter was up 8.0% on a year-over-year basis. On average, analysts expect that Guidewire Software will post 0.53 EPS for the current year.

Insider Activity

In other Guidewire Software news, President John P. Mullen sold 1,350 shares of the company's stock in a transaction dated Wednesday, November 20th. The stock was 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 owns 189,261 shares in the company, valued at $37,420,684.92. This represents a 0.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider James Winston King sold 4,514 shares of Guidewire Software stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $172.66, for a total value of $779,387.24. Following the transaction, the insider now directly owns 48,237 shares in the company, valued at approximately $8,328,600.42. The trade was a 8.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 52,601 shares of company stock valued at $9,116,179 in the last ninety days. 0.48% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Guidewire Software

Several large investors have recently made changes to their positions in GWRE. Rothschild Investment LLC purchased a new position in Guidewire Software during the second quarter valued at $31,000. Assetmark Inc. grew its position in shares of Guidewire Software by 537.0% during 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 in the last quarter. Point72 Hong Kong Ltd purchased a new stake in shares of Guidewire Software in the third quarter worth about $33,000. DT Investment Partners LLC bought a new position in Guidewire Software during the second quarter valued at approximately $41,000. Finally, Brooklyn Investment Group purchased a new position in Guidewire Software during the 3rd quarter valued at approximately $42,000.

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.