Guidewire Software (NYSE:GWRE) Given New $185.00 Price Target at Wells Fargo & Company

Guidewire Software (NYSE:GWRE) had its price target upped by stock analysts at Wells Fargo & Company from $175.00 to $185.00 in a note issued to investors on Friday, Benzinga reports. The firm presently has an “overweight” rating on the technology company’s stock. Wells Fargo & Company‘s target price suggests a potential upside of 28.45% from the company’s previous close.

A number of other equities research analysts have also recently commented on the stock. Needham & Company LLC reiterated a “hold” rating on shares of Guidewire Software in a report on Friday. Stifel Nicolaus increased their price target on shares of Guidewire Software from $130.00 to $140.00 and gave the company a “buy” rating in a report on Wednesday, June 5th. The Goldman Sachs Group increased their price target on shares of Guidewire Software from $146.00 to $170.00 and gave the company a “buy” rating in a report on Monday, July 22nd. Citigroup raised their target price on shares of Guidewire Software from $109.00 to $122.00 and gave the stock a “neutral” rating in a report on Tuesday, June 4th. Finally, Royal Bank of Canada raised their target price on shares of Guidewire Software from $170.00 to $180.00 and gave the stock an “outperform” rating in a report on Friday. One research analyst has rated the stock with a sell rating, three have given a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $150.38.

Guidewire Software Stock Down 2.1 %

NYSE:GWRE opened at $144.03 on Friday. The company’s 50 day moving average price is $144.17 and its 200-day moving average price is $127.75. Guidewire Software has a 52 week low of $83.91 and a 52 week high of $153.85. The stock has a market cap of $11.91 billion, a price-to-earnings ratio of -1,107.92 and a beta of 1.19.

Guidewire Software (NYSE:GWRE) last posted its quarterly earnings results on Thursday, September 5th. The technology company reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.54 by $0.08. Guidewire Software had a negative net margin of 1.11% and a negative return on equity of 1.19%. The firm had revenue of $291.50 million for the quarter, compared to analysts’ expectations of $283.84 million. During the same quarter in the prior year, the company posted $0.30 earnings per share. The business’s revenue for the quarter was up 8.0% on a year-over-year basis. As a group, sell-side analysts anticipate that Guidewire Software will post -0.31 earnings per share for the current year.

Insiders Place Their Bets

In other Guidewire Software news, insider John P. Mullen sold 1,350 shares of the stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $149.03, for a total value of $201,190.50. Following the transaction, the insider now directly owns 137,821 shares in the company, valued at $20,539,463.63. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Michael George Rosenbaum sold 5,582 shares of the firm’s stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $134.54, for a total transaction of $751,002.28. Following the sale, the chief executive officer now directly owns 239,793 shares in the company, valued at approximately $32,261,750.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John P. Mullen sold 1,350 shares of the firm’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $149.03, for a total transaction of $201,190.50. Following the sale, the insider now owns 137,821 shares in the company, valued at $20,539,463.63. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 13,064 shares of company stock worth $1,782,775. Company insiders own 0.38% of the company’s stock.

Institutional Trading of Guidewire Software

Several institutional investors and hedge funds have recently modified their holdings of the company. Allspring Global Investments Holdings LLC raised its position in shares of Guidewire Software by 4.0% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 2,050 shares of the technology company’s stock valued at $283,000 after purchasing an additional 79 shares during the period. Partners Capital Investment Group LLP raised its position in shares of Guidewire Software by 2.9% during the 4th quarter. Partners Capital Investment Group LLP now owns 3,468 shares of the technology company’s stock valued at $378,000 after purchasing an additional 99 shares during the period. Vanguard Personalized Indexing Management LLC raised its position in shares of Guidewire Software by 1.3% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 9,078 shares of the technology company’s stock valued at $1,252,000 after purchasing an additional 116 shares during the period. CHICAGO TRUST Co NA grew its stake in Guidewire Software by 4.8% during the second quarter. CHICAGO TRUST Co NA now owns 2,845 shares of the technology company’s stock valued at $392,000 after acquiring an additional 130 shares in the last quarter. Finally, Legacy Advisors LLC grew its stake in Guidewire Software by 1.6% during the second quarter. Legacy Advisors LLC now owns 8,329 shares of the technology company’s stock valued at $1,148,000 after acquiring an additional 135 shares in the last quarter.

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.