Guidewire Software’s (GWRE) “Hold” Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reaffirmed their hold rating on shares of Guidewire Software (NYSE:GWRE) in a report issued on Friday morning, Benzinga reports.

A number of other analysts have also recently weighed in on GWRE. JMP Securities raised their price target on shares of Guidewire Software from $141.00 to $179.00 and gave the company a market outperform rating in a report on Friday, September 6th. Citigroup raised their target price on shares of Guidewire Software from $123.00 to $165.00 and gave the company a neutral rating in a research note on Monday, September 9th. Royal Bank of Canada upped their price target on Guidewire Software from $170.00 to $180.00 and gave the stock an outperform rating in a research report on Friday, September 6th. DA Davidson reissued a buy rating and issued a $168.00 price target on shares of Guidewire Software in a report on Friday, September 6th. Finally, Oppenheimer upped their price target on shares of Guidewire Software from $185.00 to $200.00 and gave the company an outperform rating in a research note on Friday, October 4th. One analyst has rated the stock with a sell rating, two have given a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus price target of $178.62.

Guidewire Software Stock Up 1.3 %

Shares of GWRE stock opened at $185.82 on Friday. The firm has a market cap of $15.36 billion, a price-to-earnings ratio of -1,428.77 and a beta of 1.19. Guidewire Software has a 52-week low of $85.15 and a 52-week high of $187.85. The company’s 50 day moving average is $161.87 and its 200 day moving average is $138.58.

Guidewire Software (NYSE:GWRE) last announced its quarterly earnings results on Thursday, September 5th. The technology company reported $0.62 earnings per share (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 the consensus estimate of $283.84 million. Guidewire Software had a negative return on equity of 1.29% and a negative net margin of 0.62%. The business’s revenue was up 8.0% compared to the same quarter last year. During the same period last year, the business posted $0.30 EPS. Analysts anticipate that Guidewire Software will post 0.53 EPS for the current fiscal year.

Insider Buying and Selling at Guidewire Software

In related news, insider John P. Mullen sold 1,350 shares of the firm’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $149.03, for a total transaction of $201,190.50. Following the sale, the insider now owns 137,821 shares in the company, valued at approximately $20,539,463.63. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Guidewire Software news, CEO Michael George Rosenbaum sold 23,379 shares of the company’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $172.16, for a total transaction of $4,024,928.64. Following the completion of the transaction, the chief executive officer now directly owns 287,662 shares in the company, valued at approximately $49,523,889.92. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider John P. Mullen sold 1,350 shares of the company’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $149.03, for a total transaction of $201,190.50. Following the transaction, the insider now owns 137,821 shares of the company’s stock, valued at approximately $20,539,463.63. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 52,601 shares of company stock worth $8,984,892. Insiders own 0.38% of the company’s stock.

Institutional Trading of Guidewire Software

Large investors have recently made changes to their positions in the company. Creative Planning boosted its position in Guidewire Software by 16.0% during the third quarter. Creative Planning now owns 15,331 shares of the technology company’s stock worth $2,805,000 after acquiring an additional 2,120 shares during the last quarter. Sapient Capital LLC purchased a new position in Guidewire Software in the 3rd quarter worth approximately $1,625,000. CHICAGO TRUST Co NA boosted its holdings in shares of Guidewire Software by 12.5% during the 3rd quarter. CHICAGO TRUST Co NA now owns 3,200 shares of the technology company’s stock worth $585,000 after purchasing an additional 355 shares during the last quarter. Westwind Capital purchased a new stake in shares of Guidewire Software in the third quarter valued at approximately $13,765,000. Finally, Wedmont Private Capital increased its holdings in shares of Guidewire Software by 43.9% in the third quarter. Wedmont Private Capital now owns 2,157 shares of the technology company’s stock valued at $393,000 after purchasing an additional 658 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.