Guidewire Software (NYSE:GWRE) PT Raised to $95.00 at Bank of America

Guidewire Software (NYSE:GWRE) had its price objective boosted by Bank of America from $80.00 to $95.00 in a research note released on Wednesday morning, Benzinga reports. The firm currently has an underperform rating on the technology company’s stock.

Several other research firms have also recently weighed in on GWRE. Citigroup increased their price objective on shares of Guidewire Software from $109.00 to $122.00 and gave the company a neutral rating in a research report on Tuesday, June 4th. Wells Fargo & Company increased their target price on shares of Guidewire Software from $130.00 to $140.00 and gave the stock an overweight rating in a report on Wednesday. Oppenheimer raised their price target on Guidewire Software from $130.00 to $140.00 and gave the company an outperform rating in a report on Wednesday. DA Davidson reaffirmed a buy rating and issued a $126.00 price objective on shares of Guidewire Software in a research note on Tuesday, March 5th. Finally, Robert W. Baird lifted their target price on Guidewire Software from $131.00 to $140.00 and gave the company an outperform rating in a research note on Thursday, March 7th. One 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. Based on data from MarketBeat.com, Guidewire Software presently has a consensus rating of Moderate Buy and an average price target of $129.23.

Guidewire Software Stock Performance

Shares of Guidewire Software stock opened at $129.98 on Wednesday. The company’s 50 day moving average price is $116.09 and its 200-day moving average price is $112.40. Guidewire Software has a 52-week low of $68.45 and a 52-week high of $132.36. The stock has a market capitalization of $10.74 billion, a price-to-earnings ratio of -999.77 and a beta of 1.14.

Guidewire Software (NYSE:GWRE) last posted its quarterly earnings data on Thursday, March 7th. The technology company reported $0.04 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.22. The company had revenue of $240.90 million during the quarter, compared to analyst estimates of $240.93 million. Guidewire Software had a negative return on equity of 1.19% and a negative net margin of 1.11%. As a group, equities research analysts forecast that Guidewire Software will post -0.42 earnings per share for the current fiscal year.

Insider Buying and Selling at Guidewire Software

In related news, insider John P. Mullen sold 1,350 shares of the firm’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $123.16, for a total transaction of $166,266.00. Following the sale, the insider now owns 146,697 shares of the company’s stock, valued at $18,067,202.52. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Guidewire Software news, insider John P. Mullen sold 3,665 shares of the firm’s stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $111.75, for a total value of $409,563.75. Following the completion of the sale, the insider now directly owns 149,397 shares in the company, valued at $16,695,114.75. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider John P. Mullen sold 1,350 shares of the company’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $123.16, for a total value of $166,266.00. Following the transaction, the insider now directly owns 146,697 shares in the company, valued at $18,067,202.52. The disclosure for this sale can be found here. In the last quarter, insiders have sold 10,785 shares of company stock valued at $1,220,087. Company insiders own 0.38% of the company’s stock.

Institutional Investors Weigh In On Guidewire Software

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GWRE. Principal Financial Group Inc. raised its stake in shares of Guidewire Software by 3.0% in the third quarter. Principal Financial Group Inc. now owns 6,678 shares of the technology company’s stock worth $601,000 after purchasing an additional 194 shares during the last quarter. New York Life Investment Management LLC purchased a new position in shares of Guidewire Software during the third quarter worth $773,000. Banque Cantonale Vaudoise acquired a new position in Guidewire Software during the third quarter valued at $25,000. Swiss National Bank grew its position in Guidewire Software by 0.8% during the 3rd quarter. Swiss National Bank now owns 170,100 shares of the technology company’s stock worth $15,309,000 after purchasing an additional 1,400 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Guidewire Software by 0.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 507,155 shares of the technology company’s stock valued at $45,644,000 after buying an additional 3,691 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.