Guidewire Software (NYSE:GWRE) Given New $220.00 Price Target at Stifel Nicolaus

Guidewire Software (NYSE:GWRE) had its price objective upped by Stifel Nicolaus from $200.00 to $220.00 in a research report sent to investors on Tuesday morning,Benzinga reports. The firm currently has a buy rating on the technology company’s stock.

Several other brokerages have also recently weighed in on GWRE. Needham & Company LLC reiterated a “hold” rating on shares of Guidewire Software in a research note on Friday, October 11th. Oppenheimer increased their target price on shares of Guidewire Software from $200.00 to $220.00 and gave the stock an “outperform” rating in a report on Tuesday. JPMorgan Chase & Co. increased their target price on shares of Guidewire Software from $170.00 to $210.00 and gave the stock an “overweight” rating in a report on Thursday, October 3rd. The Goldman Sachs Group increased their target price on shares of Guidewire Software from $146.00 to $170.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. Finally, Wells Fargo & Company increased their target price on shares of Guidewire Software from $200.00 to $205.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $183.69.

Guidewire Software Stock Performance

GWRE opened at $196.35 on Tuesday. The stock has a market capitalization of $16.40 billion, a P/E ratio of -2,454.01, a P/E/G ratio of 49.72 and a beta of 1.18. The company’s 50-day simple moving average is $184.55 and its two-hundred day simple moving average is $153.67. Guidewire Software has a 52-week low of $95.02 and a 52-week high of $199.33.

Guidewire Software (NYSE:GWRE) last issued 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 firm had revenue of $291.50 million for the quarter, compared to analysts’ expectations of $283.84 million. During the same quarter in the prior year, the business earned $0.30 EPS. The business’s quarterly revenue was up 8.0% on a year-over-year basis. Research analysts forecast that Guidewire Software will post 0.53 EPS for the current fiscal year.

Insider Activity at Guidewire Software

In related news, President John P. Mullen sold 1,350 shares of the business’s stock in a transaction on Friday, October 18th. The shares were sold at an average price of $187.68, for a total value of $253,368.00. Following the sale, the president now owns 190,611 shares in the company, valued at approximately $35,773,872.48. The trade was a 0.70 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Michael George Rosenbaum sold 23,379 shares of the business’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $172.16, for a total transaction of $4,024,928.64. Following the completion of the sale, the chief executive officer now owns 287,662 shares in the company, valued at $49,523,889.92. This represents a 7.52 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 51,251 shares of company stock valued at $8,849,257. 0.48% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. boosted its stake in Guidewire Software by 21.1% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 345 shares of the technology company’s stock worth $63,000 after buying an additional 60 shares during the period. Allspring Global Investments Holdings LLC boosted its stake 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 buying an additional 79 shares during the period. CIBC Asset Management Inc boosted its stake in Guidewire Software by 3.7% during the third quarter. CIBC Asset Management Inc now owns 2,451 shares of the technology company’s stock worth $448,000 after buying an additional 87 shares during the period. Vanguard Personalized Indexing Management LLC boosted its stake in Guidewire Software by 1.3% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 9,078 shares of the technology company’s stock worth $1,252,000 after buying an additional 116 shares during the period. Finally, CHICAGO TRUST Co NA boosted its stake in Guidewire Software by 4.8% during the second quarter. CHICAGO TRUST Co NA now owns 2,845 shares of the technology company’s stock worth $392,000 after buying 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.