The Goldman Sachs Group Initiates Coverage on Guidewire Software (NYSE:GWRE)

Equities research analysts at The Goldman Sachs Group initiated coverage on shares of Guidewire Software (NYSE:GWRE) in a research note issued to investors on Thursday,Briefing.com Automated Import reports. The firm set a “buy” rating and a $210.00 price target on the technology company’s stock. The Goldman Sachs Group’s price target would suggest a potential upside of 14.48% from the company’s current price.

A number of other analysts have also recently commented on the stock. JPMorgan Chase & Co. increased their price target on shares of Guidewire Software from $210.00 to $228.00 and gave the company an “overweight” rating in a research note on Friday, December 6th. Royal Bank of Canada lifted their price target on Guidewire Software from $215.00 to $230.00 and gave the stock an “outperform” rating in a report on Friday, December 6th. Robert W. Baird upped their price objective on Guidewire Software from $204.00 to $220.00 and gave the company an “outperform” rating in a research note on Tuesday, November 19th. DA Davidson reiterated a “buy” rating and set a $210.00 target price on shares of Guidewire Software in a research note on Wednesday, December 4th. Finally, Stifel Nicolaus increased their price target on Guidewire Software from $200.00 to $220.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $196.08.

Guidewire Software Stock Up 1.1 %

GWRE stock opened at $183.44 on Thursday. The business has a 50-day moving average of $182.12 and a 200-day moving average of $170.82. Guidewire Software has a fifty-two week low of $107.00 and a fifty-two week high of $209.15. The stock has a market capitalization of $15.32 billion, a P/E ratio of 509.55, a P/E/G ratio of 47.19 and a beta of 1.23. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.66 and a quick ratio of 2.66.

Insider Activity

In related news, insider James Winston King sold 1,509 shares of the business’s stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $171.06, for a total transaction of $258,129.54. Following the transaction, the insider now owns 46,728 shares in the company, valued at $7,993,291.68. The trade was a 3.13 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael George Rosenbaum sold 1,400 shares of the stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $179.91, for a total value of $251,874.00. Following the completion of the transaction, the chief executive officer now owns 278,930 shares in the company, valued at approximately $50,182,296.30. The trade was a 0.50 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 29,606 shares of company stock valued at $5,141,309. Insiders own 0.48% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Versant Capital Management Inc purchased a new stake in shares of Guidewire Software during the fourth quarter valued at approximately $25,000. Assetmark Inc. increased its position in shares of Guidewire Software by 537.0% during the 3rd quarter. Assetmark Inc. now owns 172 shares of the technology company’s stock valued at $31,000 after purchasing an additional 145 shares during the last quarter. Point72 Hong Kong Ltd bought a new stake in shares of Guidewire Software during the 3rd quarter worth $33,000. Brooklyn Investment Group purchased a new position in shares of Guidewire Software in the 3rd quarter worth about $42,000. Finally, R Squared Ltd bought a new position in Guidewire Software during the fourth quarter valued at about $47,000.

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.