Guidewire Software (NYSE:GWRE) Price Target Raised to $290.00

Guidewire Software (NYSE:GWRE - Free Report) had its target price upped by Royal Bank of Canada from $230.00 to $290.00 in a report released on Wednesday,Benzinga reports. The firm currently has an outperform rating on the technology company's stock.

Several other research analysts have also recently commented on the stock. Needham & Company LLC reiterated a "hold" rating on shares of Guidewire Software in a report on Wednesday. JMP Securities upped their price target on shares of Guidewire Software from $250.00 to $281.00 and gave the company a "market outperform" rating in a research report on Wednesday. Oppenheimer lifted their price objective on shares of Guidewire Software from $230.00 to $275.00 and gave the stock an "outperform" rating in a research report on Wednesday. DA Davidson downgraded shares of Guidewire Software from a "strong-buy" rating to a "hold" rating and set a $226.00 target price on the stock. in a research note on Thursday, May 22nd. Finally, Wells Fargo & Company raised their target price on Guidewire Software from $220.00 to $265.00 and gave the stock an "overweight" rating in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, Guidewire Software has a consensus rating of "Moderate Buy" and a consensus target price of $247.00.

Guidewire Software Stock Performance

GWRE traded up $1.95 during trading on Wednesday, reaching $255.93. 1,585,412 shares of the company were exchanged, compared to its average volume of 943,000. The stock 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 firm has a 50 day moving average of $201.77 and a 200 day moving average of $194.70. The company has a current ratio of 2.66, a quick ratio of 2.66 and a debt-to-equity ratio of 0.53. 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 posted its quarterly earnings data on Tuesday, June 3rd. The technology company reported $0.88 EPS for the quarter, beating analysts' consensus estimates of $0.47 by $0.41. Guidewire Software had a net margin of 2.91% and a return on equity of 2.38%. The business had revenue of $293.51 million for the quarter, compared to analyst estimates of $286.40 million. During the same quarter last year, the business earned $0.26 earnings per share. The business's revenue for the quarter was up 22.0% on a year-over-year basis. On average, sell-side analysts forecast that Guidewire Software will post 0.52 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Michael George Rosenbaum sold 1,400 shares of Guidewire Software stock in a transaction on Monday, April 7th. The shares were sold at an average price of $167.82, for a total value of $234,948.00. Following the transaction, the chief executive officer now owns 258,593 shares in the company, valued at $43,397,077.26. This trade represents a 0.54% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Jeffrey Elliott Cooper sold 1,956 shares of the firm's stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $189.41, for a total value of $370,485.96. Following the completion of the sale, the chief financial officer now directly owns 71,538 shares in the company, valued at $13,550,012.58. This trade represents a 2.66% 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 valued at $5,471,104 in the last three months. Insiders own 0.48% of the company's stock.

Institutional Trading of Guidewire Software

A number of institutional investors and hedge funds have recently modified their holdings of GWRE. SBI Securities Co. Ltd. raised its holdings in shares of Guidewire Software by 403.8% in the 1st quarter. SBI Securities Co. Ltd. now owns 131 shares of the technology company's stock worth $25,000 after buying an additional 105 shares in the last quarter. Advisors Asset Management Inc. acquired a new position in Guidewire Software during the 1st quarter worth $25,000. Quarry LP acquired a new position in shares of Guidewire Software during the first quarter valued at $28,000. Rise Advisors LLC bought a new stake in Guidewire Software during the 1st quarter worth about $31,000. Finally, MassMutual Private Wealth & Trust FSB raised its holdings in Guidewire Software by 70.0% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 170 shares of the technology company's stock worth $32,000 after purchasing an additional 70 shares during 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.