Guidewire Software (NYSE:GWRE) PT Raised to $150.00 at Wells Fargo & Company

Guidewire Software (NYSE:GWRE) had its target price increased by research analysts at Wells Fargo & Company from $140.00 to $150.00 in a note issued to investors on Friday, Benzinga reports. The firm presently has an “overweight” rating on the technology company’s stock. Wells Fargo & Company‘s price objective would indicate a potential upside of 9.25% from the stock’s previous close.

Other analysts have also issued reports about the stock. Oppenheimer increased their price target on shares of Guidewire Software from $130.00 to $140.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 5th. Robert W. Baird boosted their price target on Guidewire Software from $140.00 to $152.00 and gave the company an “outperform” rating in a research note on Thursday, June 6th. Royal Bank of Canada reissued an “outperform” rating and issued a $130.00 target price on shares of Guidewire Software in a report on Wednesday, June 5th. Bank of America increased their price target on Guidewire Software from $80.00 to $95.00 and gave the stock an “underperform” rating in a research report on Wednesday, June 5th. Finally, BTIG Research upped their price objective on Guidewire Software from $135.00 to $140.00 and gave the stock a “buy” rating in a report on Wednesday, June 5th. One analyst has rated the stock with a sell rating, two have given a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Guidewire Software presently has an average rating of “Moderate Buy” and an average target price of $130.00.

Guidewire Software Price Performance

GWRE stock opened at $137.30 on Friday. The firm has a market cap of $11.35 billion, a PE ratio of -1,056.07 and a beta of 1.14. Guidewire Software has a 12 month low of $68.45 and a 12 month high of $138.15. The firm has a 50 day simple moving average of $120.19 and a 200 day simple moving average of $115.02.

Insider Activity at Guidewire Software

In other news, insider John P. Mullen sold 1,350 shares of the business’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $111.35, for a total value of $150,322.50. Following the completion of the sale, the insider now directly owns 148,047 shares of the company’s stock, valued at approximately $16,485,033.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Guidewire Software news, insider John P. Mullen sold 1,350 shares of Guidewire Software stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $111.35, for a total value of $150,322.50. Following the sale, the insider now owns 148,047 shares of the company’s stock, valued at approximately $16,485,033.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael George Rosenbaum sold 5,582 shares of the company’s stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of $134.54, for a total transaction of $751,002.28. Following the transaction, the chief executive officer now owns 239,793 shares in the company, valued at $32,261,750.22. The disclosure for this sale can be found here. Insiders have sold a total of 8,282 shares of company stock valued at $1,067,591 over the last 90 days. 0.38% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in GWRE. Vanguard Group Inc. raised its position in shares of Guidewire Software by 0.8% during the 1st 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. Bamco Inc. NY lifted its position in Guidewire Software by 0.6% in the third quarter. Bamco Inc. NY now owns 6,238,882 shares of the technology company’s stock worth $561,499,000 after purchasing an additional 36,895 shares during the period. Wasatch Advisors LP boosted its stake in Guidewire Software by 4.2% during the 1st quarter. Wasatch Advisors LP now owns 2,874,758 shares of the technology company’s stock valued at $335,513,000 after purchasing an additional 115,600 shares in the last quarter. Linonia Partnership LP acquired a new position in shares of Guidewire Software during the 4th quarter valued at $189,965,000. Finally, Whale Rock Capital Management LLC raised its stake in shares of Guidewire Software by 23.4% in the 1st quarter. Whale Rock Capital Management LLC now owns 1,270,870 shares of the technology company’s stock worth $148,323,000 after buying 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.