Guidewire Software (NYSE:GWRE – Get Free Report) had its price target upped by equities research analysts at Royal Bank of Canada from $215.00 to $230.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has an “outperform” rating on the technology company’s stock. Royal Bank of Canada’s price objective would indicate a potential upside of 29.23% from the company’s current price.
Several other equities analysts also recently weighed in on GWRE. JPMorgan Chase & Co. increased their price target on shares of Guidewire Software from $210.00 to $228.00 and gave the stock an “overweight” rating in a report on Friday. Citigroup increased their target price on Guidewire Software from $123.00 to $165.00 and gave the company a “neutral” rating in a research report on Monday, September 9th. Needham & Company LLC restated a “hold” rating on shares of Guidewire Software in a research report on Friday. Stifel Nicolaus lifted their price objective on Guidewire Software from $200.00 to $220.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Finally, DA Davidson reissued a “buy” rating and set a $210.00 target price on shares of Guidewire Software in a report on Wednesday. One research 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $193.00.
View Our Latest Stock Analysis on GWRE
Guidewire Software Trading Down 13.8 %
Guidewire Software (NYSE:GWRE – Get Free Report) last released its quarterly earnings data on Thursday, September 5th. The technology company reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.08. The firm 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 quarterly revenue was up 8.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.30 earnings per share. On average, research analysts forecast that Guidewire Software will post 0.53 earnings per share for the current year.
Insider Buying and Selling
In related news, insider John P. Mullen sold 6,718 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 $1,156,570.88. Following the completion of the sale, the insider now directly owns 160,099 shares of the company’s stock, valued at approximately $27,562,643.84. This trade represents a 4.03 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Michael George Rosenbaum sold 23,379 shares of the business’s stock in a transaction dated Tuesday, September 17th. The shares were 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 owns 287,662 shares in the company, valued at approximately $49,523,889.92. This trade represents a 7.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 52,601 shares of company stock worth $9,116,179. Insiders own 0.48% of the company’s stock.
Institutional Investors Weigh In On Guidewire Software
A number of institutional investors have recently made changes to their positions in GWRE. Rothschild Investment LLC acquired a new stake in shares of Guidewire Software in the second quarter valued at $31,000. Assetmark Inc. boosted its holdings in Guidewire Software by 537.0% during the 3rd quarter. Assetmark Inc. now owns 172 shares of the technology company’s stock valued at $31,000 after acquiring an additional 145 shares during the period. Point72 Hong Kong Ltd acquired a new position in Guidewire Software in the 3rd quarter valued at about $33,000. DT Investment Partners LLC purchased a new stake in Guidewire Software during the second quarter worth about $41,000. Finally, Brooklyn Investment Group acquired a new stake in shares of Guidewire Software during the third quarter worth about $42,000.
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.
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