Wells Fargo & Company Forecasts Strong Price Appreciation for Guidewire Software (NYSE:GWRE) Stock

Guidewire Software (NYSE:GWRE) had its target price lifted by Wells Fargo & Company from $205.00 to $215.00 in a research note published on Tuesday morning,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the technology company’s stock.

Other equities analysts have also recently issued reports about the company. Needham & Company LLC restated a “hold” rating on shares of Guidewire Software in a report on Friday, October 11th. Royal Bank of Canada raised their target price on Guidewire Software from $180.00 to $215.00 and gave the company an “outperform” rating in a report on Friday, October 11th. JMP Securities raised their target price on Guidewire Software from $179.00 to $200.00 and gave the company a “market outperform” rating in a report on Friday, October 11th. Stifel Nicolaus lifted their price objective on Guidewire Software from $200.00 to $220.00 and gave the company a “buy” rating in a research note on Tuesday. Finally, BTIG Research lifted their price objective on Guidewire Software from $140.00 to $165.00 and gave the company a “buy” rating in a research note on Friday, August 30th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, Guidewire Software currently has an average rating of “Moderate Buy” and an average target price of $183.69.

Guidewire Software Trading Up 1.2 %

Shares of NYSE:GWRE opened at $196.35 on Tuesday. The business has a 50-day moving average price of $184.55 and a 200 day moving average price of $153.67. The company has a market capitalization of $16.40 billion, a price-to-earnings ratio of -2,454.01, a PEG ratio of 49.72 and a beta of 1.18. Guidewire Software has a 12-month low of $95.02 and a 12-month high of $199.33.

Guidewire Software (NYSE:GWRE) last issued its quarterly earnings data on Thursday, September 5th. The technology company reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company’s quarterly revenue was up 8.0% on a year-over-year basis. During the same period last year, the company earned $0.30 EPS. As a group, equities research analysts predict that Guidewire Software will post 0.53 earnings per share for the current fiscal year.

Insider Transactions at Guidewire Software

In other Guidewire Software news, CEO Michael George Rosenbaum sold 23,379 shares of Guidewire Software stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 287,662 shares of the company’s stock, valued at $49,523,889.92. The trade was a 7.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, President John P. Mullen sold 1,350 shares of Guidewire Software stock in a transaction that occurred on Friday, October 18th. The stock was 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 approximately $35,773,872.48. This trade represents a 0.70 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 51,251 shares of company stock valued at $8,849,257. Corporate insiders own 0.48% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in GWRE. Vanguard Group Inc. increased its position in Guidewire Software by 0.8% during the first 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 during the period. Acadian Asset Management LLC increased its holdings in shares of Guidewire Software by 91.3% in the first quarter. Acadian Asset Management LLC now owns 7,144 shares of the technology company’s stock valued at $833,000 after purchasing an additional 3,409 shares during the period. O Shaughnessy Asset Management LLC increased its holdings in shares of Guidewire Software by 7.1% in the first quarter. O Shaughnessy Asset Management LLC now owns 4,096 shares of the technology company’s stock valued at $478,000 after purchasing an additional 271 shares during the period. Clearbridge Investments LLC increased its holdings in shares of Guidewire Software by 121.0% in the first quarter. Clearbridge Investments LLC now owns 295,595 shares of the technology company’s stock valued at $34,499,000 after purchasing an additional 161,856 shares during the period. Finally, CANADA LIFE ASSURANCE Co increased its holdings in shares of Guidewire Software by 2.3% in the first quarter. CANADA LIFE ASSURANCE Co now owns 27,453 shares of the technology company’s stock valued at $3,208,000 after purchasing an additional 619 shares during the period.

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.