Guidewire Software (NYSE:GWRE) PT Raised to $165.00 at BTIG Research

Guidewire Software (NYSE:GWRE) had its price objective boosted by BTIG Research from $140.00 to $165.00 in a report issued on Friday, Benzinga reports. BTIG Research currently has a buy rating on the technology company’s stock.

Other analysts have also recently issued research reports about the stock. Citigroup upped their price objective on shares of Guidewire Software from $109.00 to $122.00 and gave the company a neutral rating in a research report on Tuesday, June 4th. Robert W. Baird increased their price objective on shares of Guidewire Software from $140.00 to $152.00 and gave the stock an outperform rating in a research report on Thursday, June 6th. DA Davidson boosted their price objective on shares of Guidewire Software from $142.00 to $168.00 and gave the company a buy rating in a research report on Thursday, August 29th. JPMorgan Chase & Co. upped their target price on shares of Guidewire Software from $133.00 to $145.00 and gave the stock an overweight rating in a research note on Wednesday, June 5th. Finally, Stifel Nicolaus boosted their price target on Guidewire Software from $130.00 to $140.00 and gave the company a buy rating in a report on Wednesday, June 5th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of Moderate Buy and an average target price of $146.69.

Guidewire Software Trading Up 0.9 %

NYSE GWRE opened at $148.77 on Friday. Guidewire Software has a 12 month low of $81.52 and a 12 month high of $153.85. The stock has a 50-day simple moving average of $143.60 and a 200 day simple moving average of $127.31. The company has a market capitalization of $12.30 billion, a PE ratio of -1,144.38 and a beta of 1.19.

Guidewire Software (NYSE:GWRE) last announced its quarterly earnings results on Tuesday, June 4th. The technology company reported ($0.09) EPS for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.14. The company had revenue of $240.68 million during the quarter, compared to analysts’ expectations of $231.46 million. Guidewire Software had a negative return on equity of 1.19% and a negative net margin of 1.11%. As a group, sell-side analysts predict that Guidewire Software will post -0.31 earnings per share for the current fiscal year.

Insider Transactions at Guidewire Software

In other news, insider John P. Mullen sold 1,350 shares of Guidewire Software 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 transaction, the insider now 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 SEC, which is accessible through this hyperlink. In related news, CEO Michael George Rosenbaum sold 5,582 shares of the stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $134.54, for a total value of $751,002.28. Following the sale, the chief executive officer now owns 239,793 shares in the company, valued at approximately $32,261,750.22. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider John P. Mullen sold 1,350 shares of Guidewire Software stock in a transaction on Friday, July 19th. The stock was sold at an average price of $139.12, for a total transaction of $187,812.00. Following the transaction, the insider now directly owns 139,171 shares of the company’s stock, valued at $19,361,469.52. The disclosure for this sale can be found here. Insiders have sold a total of 13,064 shares of company stock worth $1,782,775 in the last 90 days. Corporate insiders own 0.38% of the company’s stock.

Hedge Funds Weigh In On Guidewire Software

Large investors have recently modified their holdings of the stock. Massachusetts Financial Services Co. MA acquired a new position in shares of Guidewire Software in the fourth quarter valued at about $105,311,000. Norges Bank acquired a new stake in Guidewire Software during the fourth quarter worth approximately $97,829,000. Whale Rock Capital Management LLC increased its stake in 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 worth $148,323,000 after acquiring an additional 240,622 shares during the period. Teca Partners LP acquired a new position in Guidewire Software in the 2nd quarter valued at $25,893,000. Finally, Linonia Partnership LP lifted its position 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 acquiring an additional 185,077 shares during the period.

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.