Guidewire Software (NYSE:GWRE) Given New $200.00 Price Target at Oppenheimer

Key Points

• Oppenheimer raised Guidewire Software’s price target to $200 from $180 and maintained an “outperform” rating, implying 16.28% upside from the reported $172 share price.
• Analysts remain broadly positive, with a consensus “Moderate Buy” rating and an average price target of $221.64; ratings include one Strong Buy, 12 Buys, and three Holds.
• Guidewire’s latest quarterly results beat expectations, reporting $0.82 in EPS versus $0.74 forecast and $372.54 million in revenue versus $355.92 million expected, with revenue up 26.9% year over year.

Guidewire Software (NYSE:GWRE - Get Free Report) had its target price raised by stock analysts at Oppenheimer from $180.00 to $200.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has an "outperform" rating on the technology company's stock. Oppenheimer's price objective suggests a potential upside of 16.28% from the stock's current price.

Other equities analysts have also recently issued reports about the company. Guggenheim initiated coverage on Guidewire Software in a research note on Thursday, July 23rd. They issued a "buy" rating and a $180.00 price target on the stock. BTIG Research reissued a "buy" rating and set a $175.00 price objective on shares of Guidewire Software in a research note on Thursday, July 2nd. JPMorgan Chase & Co. cut their target price on shares of Guidewire Software from $300.00 to $258.00 and set an "overweight" rating on the stock in a report on Tuesday, July 14th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Guidewire Software in a research note on Wednesday, June 3rd. Finally, Stifel Nicolaus lowered their price target on shares of Guidewire Software from $225.00 to $200.00 and set a "buy" rating for the company in a report on Friday, June 5th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat, Guidewire Software currently has an average rating of "Moderate Buy" and a consensus price target of $221.64.

Guidewire Software Trading Down 2.0%

Shares of GWRE stock traded down $3.60 on Monday, hitting $172.00. 61,721 shares of the company's stock traded hands, compared to its average volume of 1,589,999. The stock has a market capitalization of $14.32 billion, a price-to-earnings ratio of 92.95 and a beta of 0.92. The company's fifty day simple moving average is $138.77 and its 200 day simple moving average is $140.82. Guidewire Software has a one year low of $102.30 and a one year high of $272.60. The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.44 and a current ratio of 2.44.

Guidewire Software (NYSE:GWRE - Get Free Report) last released its quarterly earnings data on Thursday, June 4th. The technology company reported $0.82 EPS for the quarter, topping the consensus estimate of $0.74 by $0.08. The firm had revenue of $372.54 million for the quarter, compared to the consensus estimate of $355.92 million. Guidewire Software had a return on equity of 12.62% and a net margin of 11.25%.The company's quarterly revenue was up 26.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.88 earnings per share. Equities analysts forecast that Guidewire Software will post 1.83 EPS for the current year.

Insiders Place Their Bets

In other Guidewire Software news, insider James Winston King sold 1,684 shares of the business's stock in a transaction on Thursday, July 9th. The shares were sold at an average price of $130.64, for a total transaction of $219,997.76. Following the transaction, the insider directly owned 30,018 shares of the company's stock, valued at approximately $3,921,551.52. The trade was a 5.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President John P. Mullen sold 4,292 shares of the company's stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $118.74, for a total transaction of $509,632.08. Following the completion of the transaction, the president owned 131,115 shares of the company's stock, valued at $15,568,595.10. This trade represents a 3.17% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 28,993 shares of company stock valued at $3,700,650 over the last three months. 0.46% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Guidewire Software

A number of large investors have recently modified their holdings of GWRE. Advisors Asset Management Inc. bought a new position in Guidewire Software in the first quarter worth about $25,000. Fiduciary Financial Advisors purchased a new position in shares of Guidewire Software during the 2nd quarter worth approximately $29,000. Measured Wealth Private Client Group LLC purchased a new position in shares of Guidewire Software during the 3rd quarter worth approximately $29,000. Silvant Capital Management LLC bought a new position in shares of Guidewire Software in the 2nd quarter worth approximately $33,000. Finally, Leonteq Securities AG bought a new position in shares of Guidewire Software in the 1st quarter worth approximately $36,000.

About Guidewire Software

Guidewire Software, Inc develops software products and cloud services for property and casualty (P&C) insurance carriers. Headquartered in San Mateo, California, the company's offerings are designed to help insurers manage the core functions of their business—policy administration, billing and claims—while supporting digital engagement, analytics and operational modernization.

Guidewire's core product portfolio is commonly known as the InsuranceSuite, which includes PolicyCenter for policy administration, BillingCenter for billing and receivables, and ClaimCenter for claims management.

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