Guidewire Software (NYSE:GWRE) Stock Price Expected to Rise, Robert W. Baird Analyst Says

Guidewire Software (NYSE:GWRE) had its price objective upped by stock analysts at Robert W. Baird from $204.00 to $220.00 in a report issued on Tuesday,Benzinga reports. The firm presently has an “outperform” rating on the technology company’s stock. Robert W. Baird’s target price indicates a potential upside of 13.40% from the stock’s current price.

GWRE has been the subject of several other reports. Wells Fargo & Company increased their price objective on Guidewire Software from $200.00 to $205.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. Oppenheimer reiterated an “outperform” rating and set a $200.00 price objective (up from $185.00) on shares of Guidewire Software in a research note on Friday, October 11th. The Goldman Sachs Group raised their target price on Guidewire Software from $146.00 to $170.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. 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 research note on Friday, October 11th. Finally, Citigroup raised their target price on Guidewire Software from $123.00 to $165.00 and gave the company a “neutral” rating in a research note on Monday, September 9th. One analyst has rated the stock with a sell rating, two have given a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $181.38.

Guidewire Software Trading Up 0.9 %

GWRE opened at $194.00 on Tuesday. Guidewire Software has a 1-year low of $95.02 and a 1-year high of $199.33. The stock has a market capitalization of $16.20 billion, a price-to-earnings ratio of -2,424.70, a P/E/G ratio of 49.72 and a beta of 1.18. The business has a 50 day moving average of $183.97 and a 200-day moving average of $153.09.

Guidewire Software (NYSE:GWRE) last posted 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 company had revenue of $291.50 million during the quarter, compared to analysts’ expectations of $283.84 million. Guidewire Software had a negative return on equity of 1.29% and a negative net margin of 0.62%. Guidewire Software’s revenue for the quarter was up 8.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.30 earnings per share. Equities analysts predict that Guidewire Software will post 0.53 EPS for the current year.

Insiders Place Their Bets

In other Guidewire Software 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 transaction, the insider now owns 160,099 shares in the company, valued at approximately $27,562,643.84. This trade represents a 4.03 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider James Winston King sold 4,514 shares of the firm’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $172.66, for a total value of $779,387.24. Following the transaction, the insider now owns 48,237 shares in the company, valued at approximately $8,328,600.42. This trade represents a 8.56 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 51,251 shares of company stock worth $8,849,257. Insiders own 0.48% of the company’s stock.

Hedge Funds Weigh In On Guidewire Software

Several institutional investors have recently modified their holdings of GWRE. Massachusetts Financial Services Co. MA lifted its holdings in shares of Guidewire Software by 24.7% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,426,907 shares of the technology company’s stock valued at $626,918,000 after purchasing an additional 679,558 shares in the last quarter. International Assets Investment Management LLC lifted its holdings in shares of Guidewire Software by 18,001.5% during the 3rd quarter. International Assets Investment Management LLC now owns 258,128 shares of the technology company’s stock valued at $472,220,000 after purchasing an additional 256,702 shares in the last quarter. Whale Rock Capital Management LLC lifted its holdings in shares of Guidewire Software by 23.4% during the 1st quarter. Whale Rock Capital Management LLC now owns 1,270,870 shares of the technology company’s stock valued at $148,323,000 after purchasing an additional 240,622 shares in the last quarter. Teca Partners LP bought a new position in shares of Guidewire Software during the 2nd quarter valued at about $25,893,000. Finally, Linonia Partnership LP lifted its holdings in shares of Guidewire Software by 8.4% during the 2nd quarter. Linonia Partnership LP now owns 2,395,601 shares of the technology company’s stock valued at $330,329,000 after purchasing an additional 185,077 shares in the last quarter.

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.