Guidewire Software (NYSE:GWRE) Price Target Raised to $270.00 at The Goldman Sachs Group

Guidewire Software (NYSE:GWRE - Get Free Report) had its price objective increased by analysts at The Goldman Sachs Group from $235.00 to $270.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a "buy" rating on the technology company's stock. The Goldman Sachs Group's price target would suggest a potential upside of 5.50% from the company's previous close.

A number of other equities analysts have also recently commented on the stock. JMP Securities boosted their price target on shares of Guidewire Software from $250.00 to $281.00 and gave the stock a "market outperform" rating in a research note on Wednesday. Needham & Company LLC reissued a "hold" rating on shares of Guidewire Software in a research note on Wednesday. Bank of America boosted their price target on shares of Guidewire Software from $135.00 to $160.00 and gave the stock an "underperform" rating in a research note on Wednesday. JPMorgan Chase & Co. boosted their price target on shares of Guidewire Software from $231.00 to $271.00 and gave the stock an "overweight" rating in a research note on Wednesday. Finally, Wells Fargo & Company boosted their price target on shares of Guidewire Software from $220.00 to $265.00 and gave the stock an "overweight" rating in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $247.00.

Guidewire Software Stock Performance

Shares of NYSE GWRE traded up $1.95 during midday trading on Wednesday, hitting $255.93. The company's stock had a trading volume of 1,585,412 shares, compared to its average volume of 943,000. The stock has a fifty day moving average price of $203.14 and a 200 day moving average price of $195.13. The company has a current ratio of 2.66, a quick ratio of 2.66 and a debt-to-equity ratio of 0.53. The firm has a market capitalization of $21.47 billion, a price-to-earnings ratio of 710.92, a P/E/G ratio of 37.21 and a beta of 1.18. Guidewire Software has a one year low of $126.54 and a one year high of $263.20.

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

Insider Activity

In other news, CEO Michael George Rosenbaum sold 1,400 shares of the company's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $170.04, for a total transaction of $238,056.00. Following the completion of the transaction, the chief executive officer now directly owns 269,130 shares of the company's stock, valued at approximately $45,762,865.20. This represents a 0.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider James Winston King sold 1,051 shares of the business's stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $189.41, for a total transaction of $199,069.91. Following the transaction, the insider now directly owns 44,613 shares in the company, valued at approximately $8,450,148.33. The trade was a 2.30% decrease in their ownership of the stock. 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. Corporate insiders own 0.48% of the company's stock.

Institutional Investors Weigh In On Guidewire Software

Large investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in Guidewire Software by 3.0% in the first quarter. Vanguard Group Inc. now owns 8,711,604 shares of the technology company's stock worth $1,632,206,000 after buying an additional 256,070 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in Guidewire Software by 16.2% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 5,157,195 shares of the technology company's stock valued at $966,252,000 after acquiring an additional 720,322 shares in the last quarter. Linonia Partnership LP boosted its position in Guidewire Software by 41.8% during the 1st quarter. Linonia Partnership LP now owns 3,396,310 shares of the technology company's stock valued at $636,333,000 after acquiring an additional 1,000,709 shares in the last quarter. Stockbridge Partners LLC boosted its position in Guidewire Software by 8.3% during the 4th quarter. Stockbridge Partners LLC now owns 2,678,857 shares of the technology company's stock valued at $451,602,000 after acquiring an additional 205,382 shares in the last quarter. Finally, Wellington Management Group LLP boosted its position in Guidewire Software by 1.5% during the 1st quarter. Wellington Management Group LLP now owns 1,672,767 shares of the technology company's stock valued at $313,410,000 after acquiring an additional 24,991 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.