Guidewire Software (NYSE:GWRE) Price Target Raised to $265.00

Guidewire Software (NYSE:GWRE - Free Report) had its price objective increased by Wells Fargo & Company from $220.00 to $265.00 in a report released on Wednesday,Benzinga reports. They currently have an overweight rating on the technology company's stock.

Several other brokerages have also recently weighed in on GWRE. DA Davidson cut shares of Guidewire Software from a "strong-buy" rating to a "hold" rating and set a $226.00 price objective on the stock. in a research note on Thursday, May 22nd. JMP Securities raised their price objective on shares of Guidewire Software from $250.00 to $281.00 and gave the company a "market outperform" rating in a research note on Wednesday. JPMorgan Chase & Co. increased their target price on shares of Guidewire Software from $228.00 to $231.00 and gave the stock an "overweight" rating in a report on Friday, March 7th. Needham & Company LLC reiterated a "hold" rating on shares of Guidewire Software in a report on Wednesday. Finally, Bank of America increased their target price on shares of Guidewire Software from $135.00 to $160.00 and gave the stock an "underperform" rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $247.00.

Guidewire Software Stock Performance

Shares of Guidewire Software stock traded up $1.95 on Wednesday, reaching $255.93. The stock had a trading volume of 1,585,412 shares, compared to its average volume of 943,000. The business's 50-day moving average price is $201.77 and its two-hundred day moving average price 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 has a fifty-two week low of $126.54 and a fifty-two week high of $263.20. The stock has a market cap of $21.47 billion, a P/E ratio of 710.92, a price-to-earnings-growth ratio of 37.21 and a beta of 1.18.

Guidewire Software (NYSE:GWRE - Get Free Report) last released its earnings results on Tuesday, June 3rd. The technology company reported $0.88 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 firm had revenue of $293.51 million during the quarter, compared to analysts' expectations of $286.40 million. During the same period in the prior year, the company earned $0.26 EPS. The business's quarterly revenue was up 22.0% compared to the same quarter last year. On average, sell-side analysts forecast that Guidewire Software will post 0.52 EPS for the current year.

Insider Buying and Selling

In related news, CEO Michael George Rosenbaum sold 1,400 shares of Guidewire Software stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $212.02, for a total transaction of $296,828.00. Following the completion of the sale, the chief executive officer now owns 248,793 shares of the company's stock, valued at approximately $52,749,091.86. The trade was a 0.56% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider James Winston King sold 1,051 shares of Guidewire Software stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $189.41, for a total transaction of $199,069.91. Following the sale, the insider now directly owns 44,613 shares of the company's stock, valued at $8,450,148.33. The trade was a 2.30% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 28,671 shares of company stock worth $5,471,104 over the last ninety days. Company insiders own 0.48% of the company's stock.

Institutional Trading of Guidewire Software

Several hedge funds and other institutional investors have recently modified their holdings of GWRE. Massachusetts Financial Services Co. MA boosted its holdings in shares of Guidewire Software by 29.5% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 4,436,873 shares of the technology company's stock worth $747,968,000 after buying an additional 1,009,966 shares during the period. Linonia Partnership LP raised its stake in Guidewire Software by 41.8% in the 1st 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. Invesco Ltd. raised its stake in Guidewire Software by 70.4% in the 1st quarter. Invesco Ltd. now owns 1,427,104 shares of the technology company's stock worth $267,382,000 after purchasing an additional 589,424 shares in the last quarter. Congress Asset Management Co. acquired a new stake in Guidewire Software in the 1st quarter worth about $85,453,000. Finally, Arrowstreet Capital Limited Partnership raised its stake in Guidewire Software by 79.4% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 946,158 shares of the technology company's stock worth $159,503,000 after purchasing an additional 418,642 shares in the last quarter.

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.