Guidewire Software’s (GWRE) “Outperform” Rating Reaffirmed at Royal Bank of Canada

Guidewire Software (NYSE:GWRE)‘s stock had its “outperform” rating reissued by equities research analysts at Royal Bank of Canada in a research report issued on Tuesday,Benzinga reports. They presently have a $215.00 target price on the technology company’s stock. Royal Bank of Canada’s price objective indicates a potential upside of 9.43% from the stock’s previous close.

Other equities research analysts have also recently issued research reports about the stock. Robert W. Baird lifted their price target on shares of Guidewire Software from $204.00 to $220.00 and gave the stock an “outperform” rating in a report on Tuesday. JPMorgan Chase & Co. boosted their target price on Guidewire Software from $170.00 to $210.00 and gave the company an “overweight” rating in a research note on Thursday, October 3rd. The Goldman Sachs Group increased their price target on Guidewire Software from $146.00 to $170.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. Needham & Company LLC reaffirmed a “hold” rating on shares of Guidewire Software in a report on Friday, October 11th. Finally, Wells Fargo & Company increased their target price on shares of Guidewire Software from $205.00 to $215.00 and gave the stock an “overweight” rating in a research report on Tuesday. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $183.69.

Guidewire Software Stock Performance

Shares of GWRE stock traded up $2.44 during mid-day trading on Tuesday, hitting $196.48. The company’s stock had a trading volume of 119,163 shares, compared to its average volume of 697,729. Guidewire Software has a 52 week low of $95.02 and a 52 week high of $199.33. The company’s fifty day simple moving average is $183.97 and its 200-day simple moving average is $153.09. The company has a market cap of $16.41 billion, a PE ratio of -2,455.69, a P/E/G ratio of 49.72 and a beta of 1.18.

Guidewire Software (NYSE:GWRE) last issued its 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. The company had revenue of $291.50 million during the quarter, compared to the consensus estimate of $283.84 million. Guidewire Software had a negative return on equity of 1.29% and a negative net margin of 0.62%. The firm’s revenue for the quarter was up 8.0% compared to the same quarter last year. During the same period last year, the business posted $0.30 EPS. On average, equities analysts anticipate that Guidewire Software will post 0.53 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Michael George Rosenbaum sold 23,379 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $172.16, for a total transaction of $4,024,928.64. Following the completion of the sale, the chief executive officer now directly owns 287,662 shares in the company, valued at $49,523,889.92. This trade represents a 7.52 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, President John P. Mullen sold 1,350 shares of the firm’s stock in a transaction on Friday, October 18th. The shares were sold at an average price of $187.68, for a total value of $253,368.00. Following the transaction, the president now directly owns 190,611 shares in the company, valued at $35,773,872.48. This trade represents a 0.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 51,251 shares of company stock worth $8,849,257 over the last 90 days. 0.48% of the stock is owned by insiders.

Hedge Funds Weigh In On Guidewire Software

Hedge funds have recently modified their holdings of the stock. Rothschild Investment LLC acquired a new stake in Guidewire Software during the 2nd quarter worth $31,000. Assetmark Inc. increased its position in shares of Guidewire Software by 537.0% during the 3rd quarter. Assetmark Inc. now owns 172 shares of the technology company’s stock worth $31,000 after purchasing an additional 145 shares during the last quarter. Point72 Hong Kong Ltd acquired a new stake in Guidewire Software in the 3rd quarter valued at about $33,000. Lynx Investment Advisory bought a new position in Guidewire Software during the second quarter worth $41,000. Finally, DT Investment Partners LLC bought a new position in shares of Guidewire Software during the second quarter worth approximately $41,000.

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.