Guidewire Software (NYSE:GWRE) Price Target Raised to $200.00

by · The Markets Daily

Guidewire Software (NYSE:GWRE – Free Report) had its price target lifted by Oppenheimer from $180.00 to $200.00 in a report released on Monday,Benzinga reports. Oppenheimer currently has an outperform rating on the technology company’s stock.

Several other research firms have also commented on GWRE. Wells Fargo & Company reduced their price objective on shares of Guidewire Software from $210.00 to $190.00 and set an “overweight” rating for the company in a research note on Friday, June 5th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Guidewire Software in a report on Wednesday, June 3rd. Piper Sandler began coverage on shares of Guidewire Software in a report on Monday, August 10th. They issued an “overweight” rating and a $210.00 price target on the stock. JPMorgan Chase & Co. reduced their price target on Guidewire Software from $300.00 to $258.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 14th. Finally, Stifel Nicolaus decreased their price objective on Guidewire Software from $225.00 to $200.00 and set a “buy” rating for the company in a report on Friday, June 5th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $221.64.

Check Out Our Latest Stock Analysis on GWRE

Guidewire Software Price Performance

GWRE opened at $181.31 on Monday. The firm has a market capitalization of $15.10 billion, a PE ratio of 98.01 and a beta of 0.92. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.44 and a quick ratio of 2.44. The business’s 50-day moving average is $142.01 and its two-hundred day moving average is $141.24. Guidewire Software has a 1 year low of $102.30 and a 1 year high of $272.60.

Guidewire Software (NYSE:GWRE – Get Free Report) last released its quarterly earnings results on Thursday, June 4th. The technology company reported $0.82 EPS for the quarter, beating the consensus estimate of $0.74 by $0.08. Guidewire Software had a net margin of 11.25% and a return on equity of 12.62%. The business had revenue of $372.54 million during the quarter, compared to analyst estimates of $355.92 million. During the same period in the prior year, the firm posted $0.88 earnings per share. The company’s quarterly revenue was up 26.9% on a year-over-year basis. Research analysts anticipate that Guidewire Software will post 1.83 earnings per share for the current fiscal year.

Insider Activity at Guidewire Software

In related news, President John P. Mullen sold 4,292 shares of Guidewire Software stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $118.74, for a total value of $509,632.08. Following the completion of the sale, the president directly owned 131,115 shares in the company, valued at $15,568,595.10. This trade represents a 3.17% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider James Winston King sold 1,684 shares of the business’s stock in a transaction that occurred on Thursday, July 9th. The stock was sold at an average price of $130.64, for a total transaction of $219,997.76. Following the sale, the insider directly owned 30,018 shares in the company, valued at approximately $3,921,551.52. This represents a 5.31% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 30,193 shares of company stock valued at $3,908,106. Company insiders own 0.46% of the company’s stock.

Institutional Investors Weigh In On Guidewire Software

A number of large investors have recently made changes to their positions in the stock. Bamco Inc. NY purchased a new position in Guidewire Software in the 2nd quarter worth $1,106,768,000. Linonia Partnership LP purchased a new stake in Guidewire Software during the 2nd quarter valued at about $853,165,000. Route One Investment Company L.P. purchased a new stake in Guidewire Software during the 2nd quarter valued at about $227,564,000. Van ECK Associates Corp acquired a new position in shares of Guidewire Software in the second quarter valued at about $149,611,000. Finally, Capital World Investors acquired a new position in shares of Guidewire Software in the fourth quarter valued at about $202,405,000.

Guidewire Software Company Profile

(Get Free Report)

Guidewire Software, Inc develops software products and cloud services for property and casualty (P&C) insurance carriers. Headquartered in San Mateo, California, the company’s offerings are designed to help insurers manage the core functions of their business—policy administration, billing and claims—while supporting digital engagement, analytics and operational modernization.

Guidewire’s core product portfolio is commonly known as the InsuranceSuite, which includes PolicyCenter for policy administration, BillingCenter for billing and receivables, and ClaimCenter for claims management.

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