Bank of America Raises Guidewire Software (GWRE) Price Target to $112.00

Guidewire Software (NYSE:GWRE) had its target price raised by Bank of America from $98.00 to $112.00 in a research report report published on Friday. Bank of America currently has a neutral rating on the technology company’s stock.

GWRE has been the topic of a number of other research reports. Citigroup initiated coverage on shares of Guidewire Software in a report on Tuesday, September 4th. They issued a neutral rating and a $101.00 target price on the stock. DA Davidson raised their target price on shares of Guidewire Software from $100.00 to $106.00 and gave the stock a buy rating in a report on Thursday, June 7th. Piper Jaffray Companies raised their target price on shares of Guidewire Software to $110.00 and gave the stock an overweight rating in a report on Tuesday, August 28th. JPMorgan Chase & Co. raised their target price on shares of Guidewire Software to $100.00 and gave the stock an overweight rating in a report on Wednesday, June 6th. Finally, KeyCorp raised their target price on shares of Guidewire Software from $100.00 to $108.00 and gave the stock an overweight rating in a report on Friday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have given a buy rating to the company’s stock. The stock has a consensus rating of Buy and an average target price of $108.40.

Shares of NYSE GWRE opened at $98.70 on Friday. The company has a current ratio of 5.43, a quick ratio of 5.97 and a debt-to-equity ratio of 0.21. Guidewire Software has a 52-week low of $70.06 and a 52-week high of $107.79. The stock has a market capitalization of $7.96 billion, a price-to-earnings ratio of 1,096.67, a price-to-earnings-growth ratio of 31.91 and a beta of 1.19.

Guidewire Software (NYSE:GWRE) last issued its earnings results on Wednesday, September 5th. The technology company reported $0.81 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.76 by $0.05. Guidewire Software had a negative net margin of 2.97% and a positive return on equity of 1.83%. The firm had revenue of $248.60 million for the quarter, compared to analysts’ expectations of $238.86 million. During the same quarter last year, the company posted $0.59 earnings per share. Guidewire Software’s revenue was up 37.3% on a year-over-year basis. analysts anticipate that Guidewire Software will post 0.26 EPS for the current fiscal year.

In other Guidewire Software news, CEO Marcus Ryu sold 12,649 shares of the firm’s stock in a transaction that occurred on Monday, July 2nd. The shares were sold at an average price of $87.68, for a total value of $1,109,064.32. Following the sale, the chief executive officer now owns 12,925 shares in the company, valued at $1,133,264. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Craig Conway sold 400 shares of the firm’s stock in a transaction that occurred on Monday, July 16th. The shares were sold at an average price of $95.28, for a total transaction of $38,112.00. Following the completion of the sale, the director now owns 9,393 shares in the company, valued at approximately $894,965.04. The disclosure for this sale can be found here. Insiders sold 80,593 shares of company stock worth $7,765,126 in the last 90 days. 0.69% of the stock is owned by company insiders.

Several large investors have recently made changes to their positions in GWRE. Whittier Trust Co. of Nevada Inc. increased its stake in shares of Guidewire Software by 26.6% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 2,709 shares of the technology company’s stock valued at $240,000 after acquiring an additional 569 shares during the period. Oppenheimer Asset Management Inc. increased its stake in shares of Guidewire Software by 5.4% during the first quarter. Oppenheimer Asset Management Inc. now owns 11,602 shares of the technology company’s stock valued at $938,000 after acquiring an additional 595 shares during the period. Aperio Group LLC increased its stake in shares of Guidewire Software by 7.3% during the first quarter. Aperio Group LLC now owns 9,473 shares of the technology company’s stock valued at $766,000 after acquiring an additional 642 shares during the period. Peregrine Capital Management LLC increased its stake in shares of Guidewire Software by 0.3% during the second quarter. Peregrine Capital Management LLC now owns 209,462 shares of the technology company’s stock valued at $18,596,000 after acquiring an additional 673 shares during the period. Finally, Legal & General Group Plc increased its stake in shares of Guidewire Software by 1.9% during the first quarter. Legal & General Group Plc now owns 40,292 shares of the technology company’s stock valued at $3,256,000 after acquiring an additional 733 shares during the period.

About Guidewire Software

Guidewire Software, Inc provides software products for property and casualty insurers. It offers Guidewire InsuranceNow, a cloud-based platform that offers policy, billing, and claims management functionality to insurers. The company's products include Guidewire InsuranceSuite comprising Guidewire PolicyCenter, an underwriting and policy administration application; Guidewire ClaimCenter, a lifecycle management application; Guidewire BillingCenter, manages billing, payment plans, agent commissions, and external payment systems; and Guidewire Underwriting Management, a cloud-based underwriting application.

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