JMP Securities Raises Guidewire Software (NYSE:GWRE) Price Target to $179.00

Guidewire Software (NYSE:GWRE) had its price target lifted by analysts at JMP Securities from $141.00 to $179.00 in a research note issued on Friday, Benzinga reports. The brokerage presently has a “market outperform” rating on the technology company’s stock. JMP Securities’ price target indicates a potential upside of 10.17% from the company’s previous close.

Several other brokerages also recently weighed in on GWRE. Wells Fargo & Company lifted their price target on shares of Guidewire Software from $175.00 to $185.00 and gave the company an “overweight” rating in a report on Friday. BTIG Research increased their price target on Guidewire Software from $140.00 to $165.00 and gave the stock a “buy” rating in a research note on Friday, August 30th. Needham & Company LLC restated a “hold” rating on shares of Guidewire Software in a research report on Friday. Bank of America lifted their target price on Guidewire Software from $80.00 to $95.00 and gave the company an “underperform” rating in a research note on Wednesday, June 5th. Finally, DA Davidson upped their price target on Guidewire Software from $142.00 to $168.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. One research analyst has rated the stock with a sell rating, three have given a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $155.69.

Guidewire Software Stock Performance

Shares of Guidewire Software stock traded up $18.54 on Friday, hitting $162.47. 1,181,827 shares of the company’s stock were exchanged, compared to its average volume of 644,191. Guidewire Software has a 1 year low of $83.91 and a 1 year high of $171.74. The company has a 50-day simple moving average of $144.17 and a 200-day simple moving average of $127.75. The stock has a market capitalization of $13.43 billion, a PE ratio of -1,251.23 and a beta of 1.19.

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 return on equity of 1.19% and a negative net margin of 1.11%. The company had revenue of $291.50 million for the quarter, compared to the consensus estimate of $283.84 million. During the same period in the previous year, the business earned $0.30 earnings per share. Guidewire Software’s quarterly revenue was up 8.0% compared to the same quarter last year. On average, analysts expect that Guidewire Software will post -0.31 EPS for the current fiscal year.

Insider Buying and Selling

In other Guidewire Software news, CFO Jeffrey Elliott Cooper sold 3,017 shares of the stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $134.54, for a total transaction of $405,907.18. Following the completion of the transaction, the chief financial officer now owns 63,479 shares in the company, valued at $8,540,464.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Michael George Rosenbaum sold 5,582 shares of the stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $134.54, for a total value of $751,002.28. Following the sale, the chief executive officer now owns 239,793 shares of the company’s stock, valued at $32,261,750.22. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Jeffrey Elliott Cooper sold 3,017 shares of Guidewire Software stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of $134.54, for a total transaction of $405,907.18. Following the transaction, the chief financial officer now directly owns 63,479 shares of the company’s stock, valued at $8,540,464.66. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 13,064 shares of company stock worth $1,782,775. Insiders own 0.38% of the company’s stock.

Institutional Trading of Guidewire Software

Several institutional investors have recently added to or reduced their stakes in the company. Truist Financial Corp raised its holdings in shares of Guidewire Software by 10.9% in the fourth quarter. Truist Financial Corp now owns 7,215 shares of the technology company’s stock worth $787,000 after buying an additional 709 shares during the period. Amalgamated Bank grew its holdings in shares of Guidewire Software by 34.4% in the fourth quarter. Amalgamated Bank now owns 17,151 shares of the technology company’s stock worth $1,870,000 after purchasing an additional 4,390 shares during the last quarter. Benjamin F. Edwards & Company Inc. purchased a new position in Guidewire Software in the 4th quarter worth about $134,000. Charles Schwab Investment Management Inc. lifted its holdings in Guidewire Software by 1.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 513,104 shares of the technology company’s stock valued at $55,949,000 after buying an additional 5,949 shares in the last quarter. Finally, AGF Management Ltd. bought a new position in Guidewire Software in the 4th quarter worth about $3,189,000.

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.