Guidewire Software (NYSE:GWRE) Given New $247.00 Price Target at Citigroup

Guidewire Software (NYSE:GWRE) had its price target hoisted by investment analysts at Citigroup from $199.00 to $247.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the technology company’s stock. Citigroup’s price target points to a potential downside of 3.27% from the stock’s current price.

Other analysts have also issued research reports about the company. Oppenheimer upped their price objective on Guidewire Software from $230.00 to $275.00 and gave the stock an “outperform” rating in a research report on Wednesday. Raymond James boosted their target price on Guidewire Software from $225.00 to $255.00 and gave the stock an “outperform” rating in a research note on Wednesday. Needham & Company LLC restated a “hold” rating on shares of Guidewire Software in a report on Wednesday. Robert W. Baird increased their price target on Guidewire Software from $230.00 to $236.00 and gave the company an “outperform” rating in a research report on Friday, March 7th. Finally, Bank of America boosted their price objective on Guidewire Software from $135.00 to $160.00 and gave the stock an “underperform” rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, Guidewire Software currently has a consensus rating of “Moderate Buy” and a consensus target price of $247.00.

Guidewire Software Stock Down 0.3%

Shares of GWRE opened at $255.36 on Thursday. The company’s 50-day simple moving average is $204.44 and its 200-day simple moving average is $195.53. The company has a debt-to-equity ratio of 0.53, a quick ratio of 2.66 and a current ratio of 2.66. Guidewire Software has a 1 year low of $129.02 and a 1 year high of $263.20. The stock has a market capitalization of $21.42 billion, a PE ratio of 709.34, a P/E/G ratio of 37.21 and a beta of 1.15.

Guidewire Software (NYSE:GWRE) last announced its earnings results on Tuesday, June 3rd. The technology company reported $0.88 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.41. The firm had revenue of $293.51 million for the quarter, compared to the consensus estimate of $286.40 million. Guidewire Software had a net margin of 2.91% and a return on equity of 2.38%. The firm’s revenue for the quarter was up 22.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.26 EPS. Analysts forecast that Guidewire Software will post 0.52 earnings per share for the current fiscal year.

Insider Activity

In other news, President John P. Mullen sold 6,116 shares of the company’s stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $189.41, for a total value of $1,158,431.56. Following the completion of the transaction, the president now owns 166,330 shares in the company, valued at approximately $31,504,565.30. This represents a 3.55% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Michael George Rosenbaum sold 1,400 shares of the stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $212.02, for a total transaction of $296,828.00. Following the completion of the transaction, the chief executive officer now directly owns 248,793 shares in the company, valued at $52,749,091.86. This trade represents a 0.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 28,671 shares of company stock worth $5,471,104. 0.48% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Guidewire Software

Hedge funds have recently made changes to their positions in the company. SBI Securities Co. Ltd. lifted its holdings in shares of Guidewire Software by 403.8% in the 1st quarter. SBI Securities Co. Ltd. now owns 131 shares of the technology company’s stock valued at $25,000 after purchasing an additional 105 shares during the last quarter. Advisors Asset Management Inc. acquired a new position in Guidewire Software during the first quarter worth approximately $25,000. Quarry LP acquired a new position in Guidewire Software during the first quarter worth approximately $28,000. Ossiam purchased a new stake in Guidewire Software in the fourth quarter valued at approximately $29,000. Finally, Rise Advisors LLC purchased a new stake in Guidewire Software in the first quarter valued at approximately $31,000.

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.