Wells Fargo & Company Issues Positive Forecast for Guidewire Software (NYSE:GWRE) Stock Price

Guidewire Software (NYSE:GWRE - Free Report) had its price target raised by Wells Fargo & Company from $205.00 to $215.00 in a report issued on Tuesday morning,Benzinga reports. The firm currently has an overweight rating on the technology company's stock.

GWRE has been the topic of several other research reports. Robert W. Baird upped their target price on Guidewire Software from $204.00 to $220.00 and gave the stock an "outperform" rating in a report on Tuesday. Royal Bank of Canada upped their target price on Guidewire Software from $180.00 to $215.00 and gave the stock an "outperform" rating in a report on Friday, October 11th. BTIG Research upped 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. JPMorgan Chase & Co. lifted their price objective on shares of Guidewire Software from $170.00 to $210.00 and gave the company an "overweight" rating in a research report on Thursday, October 3rd. Finally, DA Davidson reissued a "buy" rating and issued a $168.00 price objective on shares of Guidewire Software in a research report on Friday, September 6th. One analyst has rated the stock with a sell rating, two have given a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $183.69.

Guidewire Software Stock Up 1.2 %

GWRE traded up $2.31 during trading on Tuesday, hitting $196.35. The company had a trading volume of 832,742 shares, compared to its average volume of 700,912. The company has a market capitalization of $16.40 billion, a PE ratio of -2,454.01, a PEG ratio of 49.72 and a beta of 1.18. Guidewire Software has a one year low of $95.02 and a one year high of $199.33. The firm's 50-day moving average price is $184.55 and its 200 day moving average price is $153.67.

Guidewire Software (NYSE:GWRE - Get Free Report) last posted its quarterly earnings data on Thursday, September 5th. The technology company reported $0.62 EPS for the quarter, beating the consensus estimate of $0.54 by $0.08. The business had revenue of $291.50 million for the quarter, compared to analysts' expectations of $283.84 million. Guidewire Software had a negative net margin of 0.62% and a negative return on equity of 1.29%. The firm's revenue was up 8.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.30 EPS. Sell-side analysts forecast that Guidewire Software will post 0.53 earnings per share for the current year.

Insider Transactions at Guidewire Software

In other news, President John P. Mullen sold 1,350 shares of the company's stock in a transaction on Friday, October 18th. The stock was sold at an average price of $187.68, for a total transaction 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. This represents a 0.70 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Michael George Rosenbaum sold 23,379 shares of the company's stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $172.16, for a total value of $4,024,928.64. Following the sale, the chief executive officer now owns 287,662 shares of the company's stock, valued at approximately $49,523,889.92. The trade was a 7.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 51,251 shares of company stock worth $8,849,257 over the last quarter. Company insiders own 0.48% of the company's stock.

Institutional Trading of Guidewire Software

A number of institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in shares of Guidewire Software by 0.8% in the first quarter. Vanguard Group Inc. now owns 8,134,952 shares of the technology company's stock worth $949,430,000 after acquiring an additional 67,439 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in Guidewire Software by 24.7% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,426,907 shares of the technology company's stock worth $626,918,000 after acquiring an additional 679,558 shares during the last quarter. Linonia Partnership LP grew its position in Guidewire Software by 8.4% during the 2nd quarter. Linonia Partnership LP now owns 2,395,601 shares of the technology company's stock worth $330,329,000 after acquiring an additional 185,077 shares during the last quarter. Geode Capital Management LLC grew its position in Guidewire Software by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 1,330,074 shares of the technology company's stock worth $243,580,000 after acquiring an additional 6,223 shares during the last quarter. Finally, Whale Rock Capital Management LLC grew its position in Guidewire Software by 23.4% during the 1st quarter. Whale Rock Capital Management LLC now owns 1,270,870 shares of the technology company's stock worth $148,323,000 after acquiring an additional 240,622 shares during the last quarter.

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.