Guidewire Software (NYSE:GWRE) Price Target Raised to $215.00 at Wells Fargo & Company

Guidewire Software (NYSE:GWRE) had its target price hoisted by Wells Fargo & Company from $205.00 to $215.00 in a report released on Tuesday morning,Benzinga reports. The firm currently has an overweight rating on the technology company’s stock.

Several other equities analysts also recently weighed in on the stock. BTIG Research increased their price target on shares of Guidewire Software from $140.00 to $165.00 and gave the stock a “buy” rating in a report on Friday, August 30th. The Goldman Sachs Group upped their price objective on Guidewire Software from $146.00 to $170.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. JMP Securities upped their price objective on Guidewire Software from $179.00 to $200.00 and gave the stock a “market outperform” rating in a research report on Friday, October 11th. DA Davidson restated a “buy” rating and issued a $168.00 price objective on shares of Guidewire Software in a research report on Friday, September 6th. Finally, JPMorgan Chase & Co. upped their price objective on Guidewire Software from $170.00 to $210.00 and gave the stock an “overweight” rating in a research report on Thursday, October 3rd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, Guidewire Software currently has a consensus rating of “Moderate Buy” and a consensus price target of $183.69.

Guidewire Software Trading Up 1.2 %

Shares of NYSE:GWRE opened at $196.35 on Tuesday. Guidewire Software has a twelve month low of $95.02 and a twelve month high of $199.33. The company’s 50 day moving average is $184.55 and its 200 day moving average is $153.67. The company has a market cap of $16.40 billion, a PE ratio of -2,454.01, a price-to-earnings-growth ratio of 49.72 and a beta of 1.18.

Guidewire Software (NYSE:GWRE) last issued its quarterly earnings results on Thursday, September 5th. The technology company reported $0.62 earnings per share for the quarter, topping 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 company had revenue of $291.50 million for the quarter, compared to the consensus estimate of $283.84 million. During the same quarter in the prior year, the company earned $0.30 EPS. Guidewire Software’s quarterly revenue was up 8.0% on a year-over-year basis. Equities research analysts predict that Guidewire Software will post 0.53 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Michael George Rosenbaum sold 23,379 shares of the stock in a transaction on Tuesday, September 17th. The stock was 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 directly owns 287,662 shares of the company’s stock, valued at approximately $49,523,889.92. This represents a 7.52 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John P. Mullen sold 6,718 shares of the stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $172.16, for a total value of $1,156,570.88. Following the completion of the transaction, the insider now directly owns 160,099 shares of the company’s stock, valued at approximately $27,562,643.84. This represents a 4.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 51,251 shares of company stock worth $8,849,257 in the last quarter. Corporate insiders own 0.48% of the company’s stock.

Institutional Trading of Guidewire Software

Hedge funds and other institutional investors have recently modified their holdings of the stock. Assetmark Inc. increased its stake in shares of Guidewire Software by 537.0% in the 3rd quarter. Assetmark Inc. now owns 172 shares of the technology company’s stock worth $31,000 after acquiring an additional 145 shares during the last quarter. Point72 Hong Kong Ltd acquired a new stake in shares of Guidewire Software in the 3rd quarter worth $33,000. Rothschild Investment LLC acquired a new stake in shares of Guidewire Software in the 2nd quarter worth $31,000. Brooklyn Investment Group acquired a new stake in shares of Guidewire Software in the 3rd quarter worth $42,000. Finally, DT Investment Partners LLC acquired a new stake in shares of Guidewire Software in the 2nd quarter worth $41,000.

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.