Bank of America Boosts Guidewire Software (NYSE:GWRE) Price Target to $160.00

Guidewire Software (NYSE:GWRE - Free Report) had its price target hoisted by Bank of America from $135.00 to $160.00 in a research note released on Wednesday,Benzinga reports. The brokerage currently has an underperform rating on the technology company's stock.

Several other analysts also recently issued reports on GWRE. The Goldman Sachs Group boosted their target price on shares of Guidewire Software from $210.00 to $240.00 and gave the company a "buy" rating in a research note on Monday, February 10th. DA Davidson downgraded shares of Guidewire Software from a "strong-buy" rating to a "hold" rating and set a $226.00 price target on the stock. in a research note on Thursday, May 22nd. Robert W. Baird upped their price target on shares of Guidewire Software from $230.00 to $236.00 and gave the stock an "outperform" rating in a research note on Friday, March 7th. JPMorgan Chase & Co. upped their price target on shares of Guidewire Software from $228.00 to $231.00 and gave the stock an "overweight" rating in a research note on Friday, March 7th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Guidewire Software in a research note on Wednesday. One analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $247.00.

Guidewire Software Price Performance

Shares of NYSE GWRE traded up $1.95 during trading on Wednesday, hitting $255.93. The company had a trading volume of 1,585,412 shares, compared to its average volume of 943,000. The company has a market cap of $21.47 billion, a P/E ratio of 710.92, a PEG ratio of 37.21 and a beta of 1.18. Guidewire Software has a 52 week low of $126.54 and a 52 week high of $263.20. The business's 50-day moving average is $201.77 and its 200 day moving average is $194.70. The company has a debt-to-equity ratio of 0.53, a quick ratio of 2.66 and a current ratio of 2.66.

Guidewire Software (NYSE:GWRE - Get Free Report) last announced its earnings results on Tuesday, June 3rd. The technology company reported $0.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.41. Guidewire Software had a net margin of 2.91% and a return on equity of 2.38%. The company had revenue of $293.51 million for the quarter, compared to the consensus estimate of $286.40 million. During the same period in the previous year, the business earned $0.26 EPS. The company's revenue was up 22.0% on a year-over-year basis. Equities research analysts predict that Guidewire Software will post 0.52 earnings per share for the current fiscal year.

Insider Activity

In other Guidewire Software news, Director Michael C. Keller sold 1,848 shares of the firm's stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $185.03, for a total value of $341,935.44. Following the transaction, the director now directly owns 12,270 shares of the company's stock, valued at approximately $2,270,318.10. This trade represents a 13.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael George Rosenbaum sold 1,400 shares of the firm's stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $170.04, for a total transaction of $238,056.00. Following the completion of the transaction, the chief executive officer now directly owns 269,130 shares in the company, valued at approximately $45,762,865.20. The trade was a 0.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 28,671 shares of company stock valued at $5,471,104 over the last three months. 0.48% of the stock is owned by insiders.

Hedge Funds Weigh In On Guidewire Software

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in Guidewire Software by 3.0% in the first quarter. Vanguard Group Inc. now owns 8,711,604 shares of the technology company's stock valued at $1,632,206,000 after acquiring an additional 256,070 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of Guidewire Software by 16.2% during the first quarter. Massachusetts Financial Services Co. MA now owns 5,157,195 shares of the technology company's stock worth $966,252,000 after purchasing an additional 720,322 shares in the last quarter. Linonia Partnership LP boosted its position in shares of Guidewire Software by 41.8% during the first quarter. Linonia Partnership LP now owns 3,396,310 shares of the technology company's stock worth $636,333,000 after purchasing an additional 1,000,709 shares in the last quarter. Stockbridge Partners LLC boosted its position in shares of Guidewire Software by 8.3% during the fourth quarter. Stockbridge Partners LLC now owns 2,678,857 shares of the technology company's stock worth $451,602,000 after purchasing an additional 205,382 shares in the last quarter. Finally, Wellington Management Group LLP boosted its position in shares of Guidewire Software by 1.5% during the first quarter. Wellington Management Group LLP now owns 1,672,767 shares of the technology company's stock worth $313,410,000 after purchasing an additional 24,991 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.