Royal Bank of Canada Raises Guidewire Software (NYSE:GWRE) Price Target to $290.00

Guidewire Software (NYSE:GWRE - Free Report) had its target price boosted by Royal Bank of Canada from $230.00 to $290.00 in a research note published on Wednesday morning,Benzinga reports. They currently have an outperform rating on the technology company's stock.

GWRE has been the subject of a number of other reports. DA Davidson cut shares of Guidewire Software from a "strong-buy" rating to a "hold" rating and set a $226.00 price target for the company. in a report on Thursday, May 22nd. JPMorgan Chase & Co. upped their price objective on shares of Guidewire Software from $228.00 to $231.00 and gave the company an "overweight" rating in a research note on Friday, March 7th. Robert W. Baird lifted their target price on shares of Guidewire Software from $230.00 to $236.00 and gave the company an "outperform" rating in a research note on Friday, March 7th. Oppenheimer boosted their price target on shares of Guidewire Software from $230.00 to $275.00 and gave the company an "outperform" rating in a report on Wednesday. Finally, The Goldman Sachs Group upped their price target on shares of Guidewire Software from $210.00 to $240.00 and gave the stock a "buy" rating in a research note on Monday, February 10th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, Guidewire Software has an average rating of "Moderate Buy" and an average price target of $247.00.

Guidewire Software Stock Down 0.3%

Shares of GWRE traded down $0.79 during mid-day trading on Wednesday, reaching $255.36. The company's stock had a trading volume of 1,577,349 shares, compared to its average volume of 944,305. The company has a market cap of $21.42 billion, a price-to-earnings ratio of 709.34, a price-to-earnings-growth ratio of 37.21 and a beta of 1.15. The business has a fifty day moving average of $204.44 and a 200 day moving average of $195.52. The company has a quick ratio of 2.66, a current ratio of 2.66 and a debt-to-equity ratio of 0.53. Guidewire Software has a 1 year low of $129.90 and a 1 year high of $263.20.

Guidewire Software (NYSE:GWRE - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $293.51 million during the quarter, compared to the consensus estimate of $286.40 million. During the same period in the prior year, the business earned $0.26 EPS. The business's revenue for the quarter was up 22.0% on a year-over-year basis. As a group, analysts forecast that Guidewire Software will post 0.52 earnings per share for the current fiscal year.

Insider Activity at Guidewire Software

In other Guidewire Software news, President John P. Mullen sold 6,116 shares of the stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $189.41, for a total transaction of $1,158,431.56. Following the transaction, the president now directly owns 166,330 shares of the company's stock, valued at $31,504,565.30. This represents a 3.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider James Winston King sold 1,051 shares of the business's stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $189.41, for a total value of $199,069.91. Following the completion of the sale, the insider now directly owns 44,613 shares of the company's stock, valued at $8,450,148.33. This represents a 2.30% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 28,671 shares of company stock valued at $5,471,104. Insiders own 0.48% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the stock. ANB Bank boosted its position in Guidewire Software by 3.5% during the first quarter. ANB Bank now owns 1,590 shares of the technology company's stock worth $298,000 after purchasing an additional 54 shares during the period. Smartleaf Asset Management LLC lifted its stake in shares of Guidewire Software by 10.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 595 shares of the technology company's stock worth $100,000 after buying an additional 56 shares during the last quarter. Norden Group LLC boosted its holdings in shares of Guidewire Software by 5.2% during the 4th quarter. Norden Group LLC now owns 1,232 shares of the technology company's stock worth $208,000 after buying an additional 61 shares during the period. Brooklyn Investment Group boosted its holdings in shares of Guidewire Software by 38.3% during the 1st quarter. Brooklyn Investment Group now owns 224 shares of the technology company's stock worth $42,000 after buying an additional 62 shares during the period. Finally, MassMutual Private Wealth & Trust FSB grew its stake in Guidewire Software by 70.0% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 170 shares of the technology company's stock valued at $32,000 after buying an additional 70 shares during 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.