Guidewire Software (NYSE:GWRE – Free Report) had its price target raised by Royal Bank of Canada from $180.00 to $215.00 in a research report report published on Friday, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the technology company’s stock.
A number of other equities research analysts have also recently commented on the company. JPMorgan Chase & Co. raised their price target on Guidewire Software from $170.00 to $210.00 and gave the company an overweight rating in a report on Thursday, October 3rd. Needham & Company LLC reissued a hold rating on shares of Guidewire Software in a report on Friday. Oppenheimer reissued an outperform rating and set a $200.00 price target (up from $185.00) on shares of Guidewire Software in a report on Friday. The Goldman Sachs Group raised their price target on Guidewire Software from $146.00 to $170.00 and gave the company a buy rating in a report on Monday, July 22nd. Finally, Wells Fargo & Company raised their price target on Guidewire Software from $200.00 to $205.00 and gave the company an overweight rating in a report on Friday. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $178.62.
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Guidewire Software Stock Performance
Guidewire Software (NYSE:GWRE – Get Free Report) last announced its earnings results on Thursday, September 5th. The technology company reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $0.08. Guidewire Software had a negative return on equity of 1.29% and a negative net margin of 0.62%. The company had revenue of $291.50 million for the quarter, compared to analysts’ expectations of $283.84 million. During the same period last year, the firm earned $0.30 EPS. Guidewire Software’s revenue for the quarter was up 8.0% compared to the same quarter last year. Analysts predict that Guidewire Software will post 0.53 EPS for the current year.
Insider Buying and Selling
In related news, CFO Jeffrey Elliott Cooper sold 4,956 shares of Guidewire Software stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $172.70, for a total value of $855,901.20. Following the completion of the transaction, the chief financial officer now owns 78,411 shares in the company, valued at approximately $13,541,579.70. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Guidewire Software news, CFO Jeffrey Elliott Cooper sold 4,956 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $172.70, for a total transaction of $855,901.20. Following the completion of the transaction, the chief financial officer now owns 78,411 shares in the company, valued at $13,541,579.70. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider John P. Mullen sold 1,350 shares of Guidewire Software stock in a transaction that occurred on Friday, July 19th. The shares were sold at an average price of $139.12, for a total transaction of $187,812.00. Following the sale, the insider now directly owns 139,171 shares of the company’s stock, valued at $19,361,469.52. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 52,601 shares of company stock worth $8,984,892. Corporate insiders own 0.38% of the company’s stock.
Hedge Funds Weigh In On Guidewire Software
A number of large investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its stake in Guidewire Software by 0.8% in the first quarter. Vanguard Group Inc. now owns 8,134,952 shares of the technology company’s stock worth $949,430,000 after buying an additional 67,439 shares in the last quarter. Wasatch Advisors LP increased its position in shares of Guidewire Software by 4.2% during the first quarter. Wasatch Advisors LP now owns 2,874,758 shares of the technology company’s stock worth $335,513,000 after purchasing an additional 115,600 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Guidewire Software by 23.2% during the second quarter. Massachusetts Financial Services Co. MA now owns 2,747,349 shares of the technology company’s stock worth $378,832,000 after purchasing an additional 516,942 shares in the last quarter. Linonia Partnership LP increased its position in shares of Guidewire Software by 8.4% during the second quarter. Linonia Partnership LP now owns 2,395,601 shares of the technology company’s stock worth $330,329,000 after purchasing an additional 185,077 shares in the last quarter. Finally, Whale Rock Capital Management LLC increased its position in shares of Guidewire Software by 23.4% during the first quarter. Whale Rock Capital Management LLC now owns 1,270,870 shares of the technology company’s stock worth $148,323,000 after purchasing an additional 240,622 shares in the last quarter.
Guidewire Software Company Profile
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.
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