Royal Bank of Canada Raises Guidewire Software (NYSE:GWRE) Price Target to $180.00

Guidewire Software (NYSE:GWRE) had its price target raised by Royal Bank of Canada from $170.00 to $180.00 in a report published on Friday morning, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the technology company’s stock.

Several other research analysts have also recently weighed in on the company. Robert W. Baird raised their target price on Guidewire Software from $152.00 to $165.00 and gave the company an outperform rating in a research note on Tuesday, September 3rd. Stifel Nicolaus lifted their price objective on shares of Guidewire Software from $130.00 to $140.00 and gave the stock a buy rating in a research note on Wednesday, June 5th. DA Davidson upped their price target on Guidewire Software from $142.00 to $168.00 and gave the company a buy rating in a report on Thursday, August 29th. Wells Fargo & Company upped their price objective on shares of Guidewire Software from $150.00 to $175.00 and gave the company an overweight rating in a research note on Wednesday, August 21st. Finally, Oppenheimer raised their target price on Guidewire Software from $170.00 to $185.00 and gave the stock an outperform rating in a research report on Friday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average target price of $161.69.

Guidewire Software Stock Up 3.9 %

Shares of GWRE opened at $168.04 on Friday. The firm has a market capitalization of $13.89 billion, a PE ratio of -1,292.52 and a beta of 1.18. The firm has a 50-day moving average price of $145.23 and a 200 day moving average price of $128.55. Guidewire Software has a 52-week low of $85.15 and a 52-week high of $171.74.

Guidewire Software (NYSE:GWRE) last posted its quarterly earnings data on Thursday, September 5th. The technology company reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.54 by $0.08. The business had revenue of $291.50 million for the quarter, compared to analyst estimates of $283.84 million. Guidewire Software had a negative net margin of 0.62% and a negative return on equity of 1.32%. The business’s revenue for the quarter was up 8.0% on a year-over-year basis. During the same quarter last year, the business earned $0.30 earnings per share. On average, equities analysts expect that Guidewire Software will post 0.38 EPS for the current year.

Insider Transactions at Guidewire Software

In other Guidewire Software 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 value 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 $32,261,750.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Jeffrey Elliott Cooper sold 3,017 shares of the company’s stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of $134.54, for a total transaction of $405,907.18. Following the completion of the sale, the chief financial officer now owns 63,479 shares in the company, valued at approximately $8,540,464.66. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Michael George Rosenbaum sold 5,582 shares of the firm’s stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of $134.54, for a total value of $751,002.28. Following the completion of the transaction, the chief executive officer now directly owns 239,793 shares in the company, valued at $32,261,750.22. The disclosure for this sale can be found here. Insiders sold 13,064 shares of company stock valued at $1,782,775 in the last three months. Corporate insiders own 0.38% of the company’s stock.

Institutional Investors Weigh In On Guidewire Software

A number of large investors have recently added to or reduced their stakes in GWRE. Rothschild Investment LLC acquired a new stake in shares of Guidewire Software in the second quarter worth $31,000. ORG Partners LLC acquired a new position in Guidewire Software during the 1st quarter worth $29,000. Transcendent Capital Group LLC acquired a new position in Guidewire Software during the 4th quarter worth $27,000. DT Investment Partners LLC bought a new stake in Guidewire Software during the second quarter valued at about $41,000. Finally, Lynx Investment Advisory acquired a new stake in shares of Guidewire Software in the second quarter valued at about $41,000.

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.