JPMorgan Chase & Co. Increases Guidewire Software (NYSE:GWRE) Price Target to $288.00

Guidewire Software (NYSE:GWRE) had its target price increased by research analysts at JPMorgan Chase & Co. from $271.00 to $288.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the technology company’s stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 22.62% from the company’s current price.

Several other brokerages have also recently weighed in on GWRE. Royal Bank Of Canada reissued an “outperform” rating and set a $290.00 price objective on shares of Guidewire Software in a report on Monday. JMP Securities raised their price objective on shares of Guidewire Software from $250.00 to $281.00 and gave the company a “market outperform” rating in a research note on Wednesday, June 4th. Needham & Company LLC reaffirmed a “hold” rating on shares of Guidewire Software in a report on Wednesday, June 4th. DA Davidson reiterated a “neutral” rating and set a $226.00 target price on shares of Guidewire Software in a research report on Wednesday, June 4th. Finally, Oppenheimer lifted their price objective on Guidewire Software from $230.00 to $275.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 4th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $248.31.

Guidewire Software Stock Performance

Shares of Guidewire Software stock opened at $234.87 on Wednesday. The company has a debt-to-equity ratio of 0.49, a current ratio of 3.23 and a quick ratio of 3.23. The firm has a 50 day simple moving average of $221.36 and a 200 day simple moving average of $200.08. Guidewire Software has a fifty-two week low of $132.01 and a fifty-two week high of $263.20. The firm has a market cap of $19.77 billion, a P/E ratio of 587.17, a P/E/G ratio of 23.18 and a beta of 1.15.

Guidewire Software (NYSE:GWRE) last released its earnings results on Tuesday, June 3rd. The technology company reported $0.88 EPS for the quarter, beating the consensus estimate of $0.47 by $0.41. The company had revenue of $293.51 million during the quarter, compared to analysts’ expectations of $286.40 million. Guidewire Software had a return on equity of 6.96% and a net margin of 3.04%. The business’s revenue for the quarter was up 22.0% on a year-over-year basis. During the same period last year, the firm earned $0.26 EPS. Sell-side analysts predict that Guidewire Software will post 0.52 earnings per share for the current fiscal year.

Insider Activity at Guidewire Software

In other Guidewire Software news, Director Michael C. Keller sold 1,000 shares of Guidewire Software stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $237.53, for a total value of $237,530.00. Following the sale, the director now owns 10,410 shares of the company’s stock, valued at $2,472,687.30. This trade represents a 8.76% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, President John P. Mullen sold 2,300 shares of the stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $187.95, for a total value of $432,285.00. Following the transaction, the president now owns 164,030 shares of the company’s stock, valued at approximately $30,829,438.50. The trade was a 1.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 18,160 shares of company stock worth $3,779,767 in the last quarter. Corporate insiders own 0.48% of the company’s stock.

Hedge Funds Weigh In On Guidewire Software

A number of large investors have recently bought and sold shares of GWRE. Truist Financial Corp raised its holdings in shares of Guidewire Software by 21.8% in the fourth quarter. Truist Financial Corp now owns 9,645 shares of the technology company’s stock valued at $1,626,000 after purchasing an additional 1,724 shares during the last quarter. D.A. Davidson & CO. grew its position in Guidewire Software by 46.9% in the fourth quarter. D.A. Davidson & CO. now owns 1,779 shares of the technology company’s stock valued at $300,000 after purchasing an additional 568 shares in the last quarter. IFP Advisors Inc increased its stake in Guidewire Software by 1,432.1% in the 4th quarter. IFP Advisors Inc now owns 812 shares of the technology company’s stock valued at $137,000 after buying an additional 759 shares during the last quarter. Amalgamated Bank lifted its position in Guidewire Software by 7.0% during the 4th quarter. Amalgamated Bank now owns 5,182 shares of the technology company’s stock worth $874,000 after buying an additional 340 shares in the last quarter. Finally, Argonautica Private Wealth Management Inc. boosted its stake in shares of Guidewire Software by 1.9% during the 4th quarter. Argonautica Private Wealth Management Inc. now owns 4,040 shares of the technology company’s stock worth $681,000 after buying an additional 75 shares during the last quarter.

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.