Guidewire Software (NYSE:GWRE) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Guidewire Software (NYSE:GWRE) had its target price increased by JPMorgan Chase & Co. from $210.00 to $228.00 in a report published on Friday morning,Benzinga reports. They currently have an overweight rating on the technology company’s stock.

GWRE has been the subject of a number of other reports. Needham & Company LLC restated a “hold” rating on shares of Guidewire Software in a research report on Friday. JMP Securities restated a “market outperform” rating and issued a $231.00 target price on shares of Guidewire Software in a report on Friday. Royal Bank of Canada reiterated an “outperform” rating and set a $215.00 price target on shares of Guidewire Software in a report on Tuesday, November 19th. Wells Fargo & Company upped their price objective on shares of Guidewire Software from $215.00 to $220.00 and gave the company an “overweight” rating in a report on Friday. Finally, BTIG Research lifted their target price on shares of Guidewire Software from $140.00 to $165.00 and gave the stock a “buy” rating in a research note on Friday, August 30th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $193.00.

Guidewire Software Stock Performance

Shares of GWRE stock opened at $177.57 on Friday. Guidewire Software has a fifty-two week low of $95.02 and a fifty-two week high of $209.15. The firm has a market capitalization of $14.83 billion, a P/E ratio of 493.25, a PEG ratio of 53.58 and a beta of 1.18. The stock’s fifty day moving average is $191.58 and its two-hundred day moving average is $160.55.

Guidewire Software (NYSE:GWRE) last announced its quarterly earnings data on Thursday, September 5th. The technology company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.08. The company had revenue of $291.50 million during 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%. Guidewire Software’s revenue was up 8.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.30 EPS. On average, equities analysts forecast that Guidewire Software will post 0.53 earnings per share for the current year.

Insider Activity at Guidewire Software

In other Guidewire Software news, CEO Michael George Rosenbaum sold 23,379 shares of the business’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $172.16, for a total transaction of $4,024,928.64. Following the sale, the chief executive officer now directly owns 287,662 shares in the company, valued at $49,523,889.92. This represents a 7.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, President John P. Mullen sold 1,350 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $197.72, for a total transaction of $266,922.00. Following the completion of the transaction, the president now directly owns 189,261 shares of the company’s stock, valued at approximately $37,420,684.92. The trade was a 0.71 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 52,601 shares of company stock worth $9,116,179. Insiders own 0.48% of the company’s stock.

Institutional Investors Weigh In On Guidewire Software

A number of hedge funds have recently added to or reduced their stakes in GWRE. Massachusetts Financial Services Co. MA boosted its stake in shares of Guidewire Software by 24.7% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,426,907 shares of the technology company’s stock valued at $626,918,000 after buying an additional 679,558 shares during the period. International Assets Investment Management LLC lifted its stake in Guidewire Software by 18,001.5% in the third quarter. International Assets Investment Management LLC now owns 258,128 shares of the technology company’s stock worth $472,220,000 after acquiring an additional 256,702 shares during the last quarter. Teca Partners LP purchased a new position in Guidewire Software in the second quarter worth approximately $25,893,000. Linonia Partnership LP grew its holdings 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 in the last quarter. Finally, Great Lakes Advisors LLC purchased a new stake in shares of Guidewire Software in the 2nd quarter valued at approximately $22,318,000.

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.