Oppenheimer Raises Guidewire Software (NYSE:GWRE) Price Target to $220.00

Guidewire Software (NYSE:GWRE - Get Free Report) had its target price raised by stock analysts at Oppenheimer from $200.00 to $220.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an "outperform" rating on the technology company's stock. Oppenheimer's price target suggests a potential upside of 11.78% from the company's previous close.

GWRE has been the topic of several other research reports. JMP Securities upped their price target on shares of Guidewire Software from $179.00 to $200.00 and gave the stock a "market outperform" rating in a research report on Friday, October 11th. Citigroup upped their target price on shares of Guidewire Software from $123.00 to $165.00 and gave the stock a "neutral" rating in a research report on Monday, September 9th. The Goldman Sachs Group raised their price target on shares of Guidewire Software from $146.00 to $170.00 and gave the company a "buy" rating in a report on Monday, July 22nd. JPMorgan Chase & Co. upped their price objective on Guidewire Software from $170.00 to $210.00 and gave the stock an "overweight" rating in a report on Thursday, October 3rd. Finally, Royal Bank of Canada lifted their target price on Guidewire Software from $180.00 to $215.00 and gave the company an "outperform" rating in a research note on Friday, October 11th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, Guidewire Software has a consensus rating of "Moderate Buy" and an average price target of $183.69.

Guidewire Software Stock Up 1.4 %

Guidewire Software stock traded up $2.77 during mid-day trading on Tuesday, hitting $196.81. 512,725 shares of the company were exchanged, compared to its average volume of 699,486. The company has a market capitalization of $16.44 billion, a PE ratio of -2,455.69, a price-to-earnings-growth ratio of 49.72 and a beta of 1.18. The business has a fifty day moving average of $183.97 and a 200 day moving average of $153.09. Guidewire Software has a 1-year low of $95.02 and a 1-year high of $199.33.

Guidewire Software (NYSE:GWRE - Get Free Report) last posted its quarterly earnings data 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 during the quarter, compared to analyst estimates of $283.84 million. During the same quarter last year, the business posted $0.30 earnings per share. The company's revenue was up 8.0% on a year-over-year basis. Research analysts expect that Guidewire Software will post 0.53 earnings per share for the current year.

Insiders Place Their Bets

In related news, President John P. Mullen sold 1,350 shares of the firm's stock in a transaction on Friday, October 18th. The shares were 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 in the company, valued at $35,773,872.48. This trade represents a 0.70 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Michael George Rosenbaum sold 23,379 shares of the 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 approximately $49,523,889.92. This trade represents a 7.52 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 51,251 shares of company stock worth $8,849,257. Company insiders own 0.48% of the company's stock.

Hedge Funds Weigh In On Guidewire Software

Hedge funds have recently modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Guidewire Software by 21.1% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 345 shares of the technology company's stock worth $63,000 after purchasing an additional 60 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in Guidewire Software by 4.0% during the second quarter. Allspring Global Investments Holdings LLC now owns 2,050 shares of the technology company's stock worth $283,000 after acquiring an additional 79 shares in the last quarter. CIBC Asset Management Inc grew its position in shares of Guidewire Software by 3.7% in the 3rd quarter. CIBC Asset Management Inc now owns 2,451 shares of the technology company's stock valued at $448,000 after acquiring an additional 87 shares during the period. Vanguard Personalized Indexing Management LLC increased its stake in shares of Guidewire Software by 1.3% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 9,078 shares of the technology company's stock worth $1,252,000 after purchasing an additional 116 shares during the last quarter. Finally, CHICAGO TRUST Co NA raised its holdings in shares of Guidewire Software by 4.8% in the 2nd quarter. CHICAGO TRUST Co NA now owns 2,845 shares of the technology company's stock valued at $392,000 after purchasing an additional 130 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.