Guidewire Software (NYSE:GWRE) Stock Price Expected to Rise, Robert W. Baird Analyst Says

Guidewire Software (NYSE:GWRE) had its price target raised by investment analysts at Robert W. Baird from $204.00 to $220.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has an “outperform” rating on the technology company’s stock. Robert W. Baird’s price target would indicate a potential upside of 13.40% from the company’s previous close.

Several other research firms have also commented on GWRE. Oppenheimer restated an “outperform” rating and set a $200.00 price target (up previously from $185.00) on shares of Guidewire Software in a research report on Friday, October 11th. JMP Securities upped their price target on shares of Guidewire Software from $179.00 to $200.00 and gave the stock a “market outperform” rating in a research report on Friday, October 11th. Needham & Company LLC restated a “hold” rating on shares of Guidewire Software in a research report on Friday, October 11th. BTIG Research upped their price target on shares of Guidewire Software from $140.00 to $165.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. Finally, Wells Fargo & Company upped their price objective on shares of Guidewire Software from $200.00 to $205.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $181.38.

Guidewire Software Price Performance

GWRE stock opened at $194.00 on Tuesday. Guidewire Software has a 1-year low of $95.02 and a 1-year high of $199.33. The firm has a fifty day moving average price of $183.97 and a two-hundred day moving average price of $153.09. The firm has a market cap of $16.20 billion, a price-to-earnings ratio of -2,424.70, a PEG ratio of 49.72 and a beta of 1.18.

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

Insider Buying and Selling at Guidewire Software

In other news, President John P. Mullen sold 1,350 shares of the company’s stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $187.68, for a total value of $253,368.00. Following the transaction, the president now owns 190,611 shares in the company, valued at $35,773,872.48. This represents a 0.70 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Michael George Rosenbaum sold 23,379 shares of the company’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $172.16, for a total value of $4,024,928.64. Following the completion of the transaction, the chief executive officer now owns 287,662 shares in the company, valued at $49,523,889.92. This represents a 7.52 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 51,251 shares of company stock valued at $8,849,257. 0.48% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Guidewire Software

A number of large investors have recently made changes to their positions in the business. Massachusetts Financial Services Co. MA increased its holdings in Guidewire Software by 24.7% in the third quarter. Massachusetts Financial Services Co. MA now owns 3,426,907 shares of the technology company’s stock worth $626,918,000 after buying an additional 679,558 shares during the last quarter. International Assets Investment Management LLC increased its holdings in Guidewire Software by 18,001.5% in the third quarter. International Assets Investment Management LLC now owns 258,128 shares of the technology company’s stock worth $472,220,000 after buying an additional 256,702 shares during the last quarter. Whale Rock Capital Management LLC increased its holdings in Guidewire Software by 23.4% in the first quarter. Whale Rock Capital Management LLC now owns 1,270,870 shares of the technology company’s stock worth $148,323,000 after buying an additional 240,622 shares during the last quarter. Teca Partners LP acquired a new position in Guidewire Software in the second quarter worth approximately $25,893,000. Finally, Linonia Partnership LP increased its holdings in Guidewire Software by 8.4% in the second quarter. Linonia Partnership LP now owns 2,395,601 shares of the technology company’s stock worth $330,329,000 after buying an additional 185,077 shares during the last quarter.

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.