Guidewire Software (NYSE:GWRE) Given New $220.00 Price Target at Oppenheimer

Guidewire Software (NYSE:GWRE) had its price objective boosted by Oppenheimer from $200.00 to $220.00 in a research note issued to investors on Tuesday,Benzinga reports. Oppenheimer currently has an outperform rating on the technology company’s stock.

A number of other research analysts also recently commented on the stock. Wells Fargo & Company lifted their price objective on shares of Guidewire Software from $200.00 to $205.00 and gave the company an “overweight” rating in a research report on Friday, October 11th. JMP Securities lifted their target price on shares of Guidewire Software from $179.00 to $200.00 and gave the stock a “market outperform” rating in a report on Friday, October 11th. Royal Bank of Canada lifted their target price on shares of Guidewire Software from $180.00 to $215.00 and gave the stock an “outperform” rating in a report on Friday, October 11th. Citigroup lifted their target price on shares of Guidewire Software from $123.00 to $165.00 and gave the stock a “neutral” rating in a report on Monday, September 9th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Guidewire Software from $170.00 to $210.00 and gave the stock an “overweight” rating in a report on Thursday, October 3rd. 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, Guidewire Software presently has a consensus rating of “Moderate Buy” and an average price target of $183.69.

Guidewire Software Price Performance

Shares of GWRE opened at $196.35 on Tuesday. The firm has a 50-day moving average of $184.55 and a 200-day moving average of $153.67. Guidewire Software has a one year low of $95.02 and a one year high of $199.33. The company has a market cap of $16.40 billion, a PE ratio of -2,454.01, a price-to-earnings-growth ratio of 49.72 and a beta of 1.18.

Guidewire Software (NYSE:GWRE) last announced 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. Guidewire Software had a negative net margin of 0.62% and a negative return on equity of 1.29%. The company had revenue of $291.50 million during the quarter, compared to the consensus estimate of $283.84 million. During the same quarter last year, the firm posted $0.30 EPS. The company’s quarterly revenue was up 8.0% on a year-over-year basis. Analysts expect that Guidewire Software will post 0.53 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Michael George Rosenbaum sold 23,379 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $172.16, for a total value 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. The trade was a 7.52 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President John P. Mullen sold 1,350 shares of the business’s stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $187.68, for a total transaction of $253,368.00. Following the completion of the transaction, the president now owns 190,611 shares of the company’s stock, valued at $35,773,872.48. The trade was a 0.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 51,251 shares of company stock worth $8,849,257 in the last quarter. 0.48% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Guidewire Software

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Neo Ivy Capital Management acquired a new position in shares of Guidewire Software in the 3rd quarter valued at approximately $1,774,000. Coldstream Capital Management Inc. raised its position in shares of Guidewire Software by 11.2% in the 3rd quarter. Coldstream Capital Management Inc. now owns 1,814 shares of the technology company’s stock valued at $335,000 after buying an additional 182 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Guidewire Software by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 1,330,074 shares of the technology company’s stock valued at $243,580,000 after buying an additional 6,223 shares in the last quarter. Orion Portfolio Solutions LLC raised its position in shares of Guidewire Software by 0.7% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 21,302 shares of the technology company’s stock valued at $3,897,000 after buying an additional 149 shares in the last quarter. Finally, XTX Topco Ltd increased its position in Guidewire Software by 836.8% during the 3rd quarter. XTX Topco Ltd now owns 14,221 shares of the technology company’s stock worth $2,602,000 after purchasing an additional 12,703 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.