Guidewire Software (NYSE:GWRE) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Guidewire Software (NYSE:GWRE - Free Report) had its target price hoisted by JPMorgan Chase & Co. from $231.00 to $271.00 in a research note released on Wednesday morning,Benzinga reports. The brokerage currently has an overweight rating on the technology company's stock.

A number of other analysts have also weighed in on the company. Needham & Company LLC reissued a "hold" rating on shares of Guidewire Software in a research note on Wednesday. DA Davidson reissued a "neutral" rating and set a $226.00 price objective on shares of Guidewire Software in a research note on Wednesday. Wells Fargo & Company increased their price objective on Guidewire Software from $220.00 to $265.00 and gave the company an "overweight" rating in a research note on Wednesday. Bank of America increased their price objective on Guidewire Software from $135.00 to $160.00 and gave the company an "underperform" rating in a research note on Wednesday. Finally, Oppenheimer upped their target price on Guidewire Software from $230.00 to $275.00 and gave the company an "outperform" rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $247.00.

Guidewire Software Price Performance

Guidewire Software stock traded up $1.95 during midday trading on Wednesday, hitting $255.93. 1,585,412 shares of the company's stock were exchanged, 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. The company has a debt-to-equity ratio of 0.53, a quick ratio of 2.66 and a current ratio of 2.66. The stock has a 50-day moving average price of $201.77 and a two-hundred day moving average price of $194.70. Guidewire Software has a 52-week low of $126.54 and a 52-week high of $263.20.

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

Insider Transactions at Guidewire Software

In other news, CEO Michael George Rosenbaum sold 1,400 shares of the stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $212.02, for a total value of $296,828.00. Following the transaction, the chief executive officer now directly owns 248,793 shares of the company's stock, valued at approximately $52,749,091.86. This represents a 0.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michael C. Keller sold 1,848 shares of the stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $185.03, for a total value of $341,935.44. Following the completion of the transaction, the director now directly owns 12,270 shares in the company, valued at $2,270,318.10. This represents a 13.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 28,671 shares of company stock valued at $5,471,104. 0.48% of the stock is currently owned by corporate insiders.

Institutional Trading of Guidewire Software

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Blue Trust Inc. grew its holdings in Guidewire Software by 254.7% in the fourth quarter. Blue Trust Inc. now owns 642 shares of the technology company's stock valued at $117,000 after purchasing an additional 461 shares during the period. Chicago Partners Investment Group LLC acquired a new stake in Guidewire Software in the fourth quarter valued at approximately $336,000. Bleakley Financial Group LLC boosted its stake in shares of Guidewire Software by 13.4% in the fourth quarter. Bleakley Financial Group LLC now owns 3,389 shares of the technology company's stock worth $571,000 after acquiring an additional 400 shares during the last quarter. Tobam acquired a new stake in shares of Guidewire Software in the fourth quarter worth approximately $52,000. Finally, Empowered Funds LLC acquired a new stake in shares of Guidewire Software in the fourth quarter worth approximately $6,655,000.

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.