Guidewire Software (NYSE:GWRE) Given New $228.00 Price Target at JPMorgan Chase & Co.

Guidewire Software (NYSE:GWRE) had its target price upped by JPMorgan Chase & Co. from $210.00 to $228.00 in a report released on Friday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the technology company’s stock.

A number of other equities analysts also recently commented on GWRE. Citigroup boosted 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. BTIG Research boosted their price objective on shares of Guidewire Software from $140.00 to $165.00 and gave the stock a “buy” rating in a research note on Friday, August 30th. Robert W. Baird raised their target price on shares of Guidewire Software from $204.00 to $220.00 and gave the company an “outperform” rating in a research note on Tuesday, November 19th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $215.00 price target on shares of Guidewire Software in a research report on Tuesday, November 19th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Guidewire Software in a research report on Friday. One research analyst has rated the stock with a sell rating, two have given a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $193.00.

Guidewire Software Stock Down 14.0 %

Guidewire Software stock opened at $177.57 on Friday. The firm has a market cap of $14.83 billion, a P/E ratio of 493.25, a P/E/G ratio of 53.58 and a beta of 1.18. The business has a fifty day moving average of $191.58 and a two-hundred day moving average of $160.55. Guidewire Software has a twelve month low of $95.02 and a twelve month high of $209.15.

Guidewire Software (NYSE:GWRE) last released its quarterly earnings results on Thursday, September 5th. The technology company reported $0.62 EPS for the quarter, topping the consensus estimate of $0.54 by $0.08. Guidewire Software had a negative return on equity of 1.29% and a negative net margin of 0.62%. The firm had revenue of $291.50 million during the quarter, compared to analyst estimates of $283.84 million. During the same period in the previous year, the company posted $0.30 EPS. The business’s revenue for the quarter was up 8.0% compared to the same quarter last year. Equities analysts expect that Guidewire Software will post 0.53 earnings per share for the current year.

Insider Activity at Guidewire Software

In related news, insider James Winston King sold 4,514 shares of the firm’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $172.66, for a total transaction of $779,387.24. Following the sale, the insider now owns 48,237 shares in the company, valued at approximately $8,328,600.42. This trade represents a 8.56 % 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. Also, President John P. Mullen sold 1,350 shares of the company’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $197.72, for a total transaction of $266,922.00. Following the completion of the transaction, the president now owns 189,261 shares of the company’s stock, valued at approximately $37,420,684.92. This trade represents a 0.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 52,601 shares of company stock worth $9,116,179 over the last three months. Company insiders own 0.48% of the company’s stock.

Hedge Funds Weigh In On Guidewire Software

Several institutional investors and hedge funds have recently modified their holdings of GWRE. Cetera Investment Advisers grew its holdings in Guidewire Software by 648.0% in the first quarter. Cetera Investment Advisers now owns 18,117 shares of the technology company’s stock valued at $2,114,000 after purchasing an additional 15,695 shares during the period. CWM LLC increased its holdings in Guidewire Software by 80.1% in the 2nd quarter. CWM LLC now owns 5,231 shares of the technology company’s stock worth $721,000 after acquiring an additional 2,327 shares in the last quarter. Simplicity Wealth LLC raised its position in Guidewire Software by 7.0% during the second quarter. Simplicity Wealth LLC now owns 2,659 shares of the technology company’s stock worth $367,000 after acquiring an additional 173 shares during the period. QRG Capital Management Inc. purchased a new position in Guidewire Software during the second quarter valued at $264,000. Finally, SG Americas Securities LLC grew its position in shares of Guidewire Software by 453.8% in the second quarter. SG Americas Securities LLC now owns 19,798 shares of the technology company’s stock valued at $2,730,000 after purchasing an additional 16,223 shares during the period.

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.