Guidewire Software (NYSE:GWRE) Stock Price Expected to Rise, Bank of America Analyst Says

Guidewire Software (NYSE:GWRE) had its target price boosted by Bank of America from $135.00 to $160.00 in a report issued on Wednesday morning,Benzinga reports. They currently have an underperform rating on the technology company’s stock.

A number of other research analysts have also recently commented on GWRE. JMP Securities increased their target price on Guidewire Software from $250.00 to $281.00 and gave the company a “market outperform” rating in a research note on Wednesday. JPMorgan Chase & Co. raised their price objective on Guidewire Software from $228.00 to $231.00 and gave the company an “overweight” rating in a report on Friday, March 7th. The Goldman Sachs Group upped their target price on Guidewire Software from $210.00 to $240.00 and gave the stock a “buy” rating in a research note on Monday, February 10th. Needham & Company LLC restated a “hold” rating on shares of Guidewire Software in a report on Wednesday. Finally, DA Davidson lowered shares of Guidewire Software from a “strong-buy” rating to a “hold” rating and set a $226.00 target price on the stock. in a report on Thursday, May 22nd. One analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, Guidewire Software has a consensus rating of “Moderate Buy” and an average target price of $247.00.

Guidewire Software Price Performance

NYSE:GWRE opened at $255.36 on Wednesday. Guidewire Software has a 52-week low of $129.02 and a 52-week high of $263.20. The stock has a fifty day moving average of $204.44 and a 200 day moving average of $195.53. The company has a debt-to-equity ratio of 0.53, a quick ratio of 2.66 and a current ratio of 2.66. The firm has a market capitalization of $21.42 billion, a price-to-earnings ratio of 709.34, a P/E/G ratio of 37.21 and a beta of 1.15.

Guidewire Software (NYSE:GWRE) last issued its quarterly earnings data on Tuesday, June 3rd. The technology company reported $0.88 EPS for the quarter, topping the consensus estimate of $0.47 by $0.41. Guidewire Software had a return on equity of 2.38% and a net margin of 2.91%. The company had revenue of $293.51 million during the quarter, compared to analyst estimates of $286.40 million. During the same quarter in the previous year, the firm earned $0.26 earnings per share. Guidewire Software’s revenue was up 22.0% on a year-over-year basis. On average, research analysts expect that Guidewire Software will post 0.52 EPS for the current fiscal year.

Insider Activity

In related news, President John P. Mullen sold 2,300 shares of Guidewire Software stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $187.95, for a total transaction of $432,285.00. Following the completion of the transaction, the president now directly owns 164,030 shares of the company’s stock, valued at $30,829,438.50. This trade represents a 1.38% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Michael George Rosenbaum sold 1,400 shares of the business’s stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $215.25, for a total transaction of $301,350.00. Following the sale, the chief executive officer now directly owns 250,193 shares in the company, valued at $53,854,043.25. The trade was a 0.56% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 28,671 shares of company stock worth $5,471,104 in the last quarter. 0.48% of the stock is owned by company insiders.

Institutional Investors Weigh In On Guidewire Software

Several hedge funds have recently added to or reduced their stakes in GWRE. ANB Bank lifted its stake in shares of Guidewire Software by 3.5% in the first quarter. ANB Bank now owns 1,590 shares of the technology company’s stock worth $298,000 after buying an additional 54 shares in the last quarter. Smartleaf Asset Management LLC boosted its stake in Guidewire Software by 10.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 595 shares of the technology company’s stock valued at $100,000 after purchasing an additional 56 shares during the last quarter. Norden Group LLC raised its stake in shares of Guidewire Software by 5.2% in the fourth quarter. Norden Group LLC now owns 1,232 shares of the technology company’s stock worth $208,000 after purchasing an additional 61 shares during the last quarter. Brooklyn Investment Group boosted its position in shares of Guidewire Software by 38.3% during the first quarter. Brooklyn Investment Group now owns 224 shares of the technology company’s stock valued at $42,000 after buying an additional 62 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB lifted its stake in Guidewire Software by 70.0% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 170 shares of the technology company’s stock valued at $32,000 after acquiring an additional 70 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.