DA Davidson Increases Guidewire Software (NYSE:GWRE) Price Target to $168.00

Guidewire Software (NYSE:GWRE) had its target price lifted by equities research analysts at DA Davidson from $142.00 to $168.00 in a note issued to investors on Thursday, Benzinga reports. The firm currently has a “buy” rating on the technology company’s stock. DA Davidson’s price target would suggest a potential upside of 12.91% from the company’s previous close.

Other equities research analysts also recently issued reports about the stock. Bank of America lifted their price target on shares of Guidewire Software from $80.00 to $95.00 and gave the company an “underperform” rating in a research note on Wednesday, June 5th. Stifel Nicolaus lifted their price target on shares of Guidewire Software from $130.00 to $140.00 and gave the company a “buy” rating in a research note on Wednesday, June 5th. Citigroup lifted their price target on shares of Guidewire Software from $109.00 to $122.00 and gave the company a “neutral” rating in a research note on Tuesday, June 4th. JPMorgan Chase & Co. boosted their target price on shares of Guidewire Software from $133.00 to $145.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 5th. Finally, The Goldman Sachs Group boosted their target price on shares of Guidewire Software from $146.00 to $170.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. One analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $144.77.

Guidewire Software Trading Up 1.0 %

GWRE stock traded up $1.53 during midday trading on Thursday, hitting $148.79. The stock had a trading volume of 76,575 shares, compared to its average volume of 624,848. The firm has a market cap of $12.30 billion, a P/E ratio of -1,144.54 and a beta of 1.19. Guidewire Software has a 1-year low of $81.52 and a 1-year high of $153.85. The business has a fifty day moving average price of $142.87 and a two-hundred day moving average price of $126.62.

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

Insiders Place Their Bets

In other Guidewire Software news, insider John P. Mullen sold 1,350 shares of the company’s stock in a transaction dated Friday, July 19th. The shares were sold at an average price of $139.12, for a total value of $187,812.00. Following the completion of the sale, the insider now directly owns 139,171 shares of the company’s stock, valued at approximately $19,361,469.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Guidewire Software news, CFO Jeffrey Elliott Cooper sold 1,765 shares of the business’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $134.20, for a total value of $236,863.00. Following the transaction, the chief financial officer now directly owns 61,714 shares in the company, valued at $8,282,018.80. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider John P. Mullen sold 1,350 shares of the business’s stock in a transaction dated Friday, July 19th. The shares were sold at an average price of $139.12, for a total transaction of $187,812.00. Following the completion of the transaction, the insider now owns 139,171 shares in the company, valued at $19,361,469.52. The disclosure for this sale can be found here. In the last ninety days, insiders sold 13,064 shares of company stock valued at $1,782,775. Corporate insiders own 0.38% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in Guidewire Software by 0.8% in the first quarter. Vanguard Group Inc. now owns 8,134,952 shares of the technology company’s stock valued at $949,430,000 after acquiring an additional 67,439 shares during the last quarter. Wasatch Advisors LP boosted its stake in 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 during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of Guidewire Software by 23.2% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,747,349 shares of the technology company’s stock valued at $378,832,000 after buying an additional 516,942 shares in the last quarter. Linonia Partnership LP lifted its stake in shares of Guidewire Software by 8.4% during the 2nd quarter. Linonia Partnership LP now owns 2,395,601 shares of the technology company’s stock valued at $330,329,000 after buying an additional 185,077 shares in the last quarter. Finally, Whale Rock Capital Management LLC lifted its stake in shares of Guidewire Software by 23.4% during the 1st quarter. Whale Rock Capital Management LLC now owns 1,270,870 shares of the technology company’s stock valued at $148,323,000 after buying an additional 240,622 shares in 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.