Guidewire Software (NYSE:GWRE) PT Raised to $185.00 at Wells Fargo & Company

Guidewire Software (NYSE:GWRE) had its price target increased by Wells Fargo & Company from $175.00 to $185.00 in a research report report published on Friday, Benzinga reports. Wells Fargo & Company currently has an overweight rating on the technology company’s stock.

Several other brokerages have also recently commented on GWRE. Oppenheimer raised their target price on shares of Guidewire Software from $170.00 to $185.00 and gave the stock an outperform rating in a report on Friday. Needham & Company LLC restated a hold rating on shares of Guidewire Software in a research note on Friday. BTIG Research upped their target price on Guidewire Software from $140.00 to $165.00 and gave the company a buy rating in a research report on Friday, August 30th. Royal Bank of Canada increased their target price on Guidewire Software from $170.00 to $180.00 and gave the stock an outperform rating in a report on Friday. Finally, DA Davidson boosted their price target on Guidewire Software from $142.00 to $168.00 and gave the company a buy rating in a research note on Thursday, August 29th. One equities research analyst has rated the stock with a sell rating, three 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 an average rating of Moderate Buy and a consensus target price of $161.69.

Guidewire Software Price Performance

Shares of NYSE GWRE opened at $168.04 on Friday. The firm has a market cap of $13.89 billion, a price-to-earnings ratio of -1,292.52 and a beta of 1.18. The stock’s fifty day moving average price is $145.23 and its two-hundred day moving average price is $128.55. Guidewire Software has a one year low of $85.15 and a one year high of $171.74.

Guidewire Software (NYSE:GWRE) last released its quarterly earnings results on Thursday, September 5th. The technology company reported $0.62 EPS for the quarter, beating 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 1.32%. The business had revenue of $291.50 million for the quarter, compared to the consensus estimate of $283.84 million. During the same period in the prior year, the company posted $0.30 earnings per share. Guidewire Software’s revenue was up 8.0% compared to the same quarter last year. On average, equities analysts anticipate that Guidewire Software will post 0.38 earnings per share for the current fiscal year.

Insider Activity at Guidewire Software

In related news, CFO Jeffrey Elliott Cooper sold 3,017 shares of the stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of $134.54, for a total value of $405,907.18. Following the completion of the transaction, the chief financial officer now owns 63,479 shares of the company’s stock, valued at approximately $8,540,464.66. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Guidewire Software news, CFO Jeffrey Elliott Cooper sold 3,017 shares of the stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of $134.54, for a total value of $405,907.18. Following the completion of the transaction, the chief financial officer now directly owns 63,479 shares in the company, valued at $8,540,464.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John P. Mullen sold 1,350 shares of the business’s stock in a transaction dated Friday, July 19th. The stock was sold at an average price of $139.12, for a total value of $187,812.00. Following the sale, the insider now owns 139,171 shares in the company, valued at $19,361,469.52. The disclosure for this sale can be found here. In the last three months, insiders have sold 13,064 shares of company stock valued at $1,782,775. 0.38% of the stock is owned by insiders.

Institutional Trading of Guidewire Software

Institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew its position in shares of Guidewire Software by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 8,134,952 shares of the technology company’s stock valued at $949,430,000 after buying an additional 67,439 shares during the last quarter. Wasatch Advisors LP boosted its holdings in Guidewire Software by 4.2% in the first quarter. Wasatch Advisors LP now owns 2,874,758 shares of the technology company’s stock valued at $335,513,000 after acquiring an additional 115,600 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in Guidewire Software by 23.2% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,747,349 shares of the technology company’s stock valued at $378,832,000 after purchasing an additional 516,942 shares during the period. Linonia Partnership LP raised 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 purchasing an additional 185,077 shares during the last quarter. Finally, Whale Rock Capital Management LLC lifted its position 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 purchasing an additional 240,622 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.