Royal Bank of Canada Raises Guidewire Software (NYSE:GWRE) Price Target to $170.00

Guidewire Software (NYSE:GWRE) had its target price upped by Royal Bank of Canada from $130.00 to $170.00 in a research note released on Thursday, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the technology company’s stock.

Several other equities analysts have also recently issued reports on GWRE. Robert W. Baird boosted their price target on Guidewire Software from $140.00 to $152.00 and gave the company an outperform rating in a research report on Thursday, June 6th. BTIG Research upped their price target on Guidewire Software from $135.00 to $140.00 and gave the stock a buy rating in a research note on Wednesday, June 5th. JPMorgan Chase & Co. lifted their price objective on shares of Guidewire Software from $133.00 to $145.00 and gave the company an overweight rating in a research report on Wednesday, June 5th. Citigroup upped their price objective on shares of Guidewire Software from $109.00 to $122.00 and gave the stock a neutral rating in a research report on Tuesday, June 4th. Finally, Bank of America lifted their target price on shares of Guidewire Software from $80.00 to $95.00 and gave the company an underperform rating in a report on Wednesday, June 5th. One analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of Moderate Buy and a consensus target price of $133.08.

Guidewire Software Trading Up 0.5 %

GWRE stock opened at $137.89 on Thursday. The company has a market capitalization of $11.40 billion, a P/E ratio of -1,060.69 and a beta of 1.14. The business has a 50 day simple moving average of $122.99 and a 200-day simple moving average of $116.37. Guidewire Software has a twelve month low of $74.03 and a twelve month high of $139.91.

Guidewire Software (NYSE:GWRE) last released its quarterly earnings results on Tuesday, June 4th. The technology company reported ($0.09) EPS for the quarter, beating the consensus estimate of ($0.23) by $0.14. Guidewire Software had a negative net margin of 1.11% and a negative return on equity of 1.19%. The firm had revenue of $240.68 million during the quarter, compared to the consensus estimate of $231.46 million. Research analysts predict that Guidewire Software will post -0.31 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Michael George Rosenbaum sold 5,582 shares of Guidewire Software stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of $134.54, for a total transaction of $751,002.28. Following the completion of the sale, the chief executive officer now directly owns 239,793 shares in the company, valued at approximately $32,261,750.22. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CFO Jeffrey Elliott Cooper sold 3,017 shares of the stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $134.54, for a total value of $405,907.18. Following the sale, the chief financial officer now directly owns 63,479 shares of the company’s stock, valued at approximately $8,540,464.66. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Michael George Rosenbaum sold 5,582 shares of the firm’s stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $134.54, for a total transaction of $751,002.28. Following the transaction, the chief executive officer now owns 239,793 shares of the company’s stock, valued at $32,261,750.22. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 13,064 shares of company stock valued at $1,710,361. Corporate insiders own 0.38% of the company’s stock.

Institutional Trading of Guidewire Software

Large investors have recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in Guidewire Software by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 8,134,952 shares of the technology company’s stock valued at $949,430,000 after buying an additional 67,439 shares in the last quarter. Wasatch Advisors LP lifted its position in shares of Guidewire Software by 4.2% in the first quarter. Wasatch Advisors LP now owns 2,874,758 shares of the technology company’s stock valued at $335,513,000 after acquiring an additional 115,600 shares in the last quarter. Linonia Partnership LP purchased a new stake in shares of Guidewire Software in the fourth quarter valued at $189,965,000. Whale Rock Capital Management LLC boosted its stake in shares of Guidewire Software by 23.4% during the first quarter. Whale Rock Capital Management LLC now owns 1,270,870 shares of the technology company’s stock valued at $148,323,000 after acquiring an additional 240,622 shares during the last quarter. Finally, Blair William & Co. IL increased its position in Guidewire Software by 5.4% during the 1st quarter. Blair William & Co. IL now owns 1,244,416 shares of the technology company’s stock worth $145,236,000 after purchasing an additional 64,149 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.