Guidewire Software (NYSE:GWRE) Price Target Raised to $165.00

Guidewire Software (NYSE:GWRE) had its price objective hoisted by Citigroup from $123.00 to $165.00 in a research note released on Monday morning, Benzinga reports. Citigroup currently has a neutral rating on the technology company’s stock.

A number of other brokerages have also recently weighed in on GWRE. Stifel Nicolaus raised their target price on shares of Guidewire Software from $140.00 to $175.00 and gave the stock a buy rating in a report on Friday, September 6th. DA Davidson reiterated a buy rating and issued a $168.00 price objective on shares of Guidewire Software in a research note on Friday, September 6th. BTIG Research boosted their target price on Guidewire Software from $140.00 to $165.00 and gave the company a buy rating in a research note on Friday, August 30th. The Goldman Sachs Group boosted their target price on shares of Guidewire Software from $146.00 to $170.00 and gave the stock a buy rating in a research report on Monday, July 22nd. Finally, Robert W. Baird increased their target price on shares of Guidewire Software from $152.00 to $165.00 and gave the stock an outperform rating in a research report on Tuesday, September 3rd. One research 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. Based on data from MarketBeat, Guidewire Software has a consensus rating of Moderate Buy and an average price target of $161.69.

Guidewire Software Stock Performance

Shares of GWRE stock opened at $168.00 on Monday. The company’s 50-day simple moving average is $146.37 and its 200-day simple moving average is $129.16. Guidewire Software has a one year low of $85.15 and a one year high of $171.74. The stock has a market capitalization of $13.89 billion, a price-to-earnings ratio of -1,292.31 and a beta of 1.18.

Guidewire Software (NYSE:GWRE) last issued its quarterly earnings data 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 1.32%. The firm had revenue of $291.50 million for the quarter, compared to the consensus estimate of $283.84 million. During the same period last year, the firm posted $0.30 EPS. Guidewire Software’s quarterly revenue was up 8.0% compared to the same quarter last year. As a group, research analysts forecast that Guidewire Software will post 0.38 EPS for the current year.

Insider Transactions at Guidewire Software

In other Guidewire Software news, insider John P. Mullen sold 1,350 shares of the business’s stock in a transaction that occurred on Friday, July 19th. The stock was sold at an average price of $139.12, for a total value of $187,812.00. Following the sale, the insider now owns 139,171 shares in the company, valued at approximately $19,361,469.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider John P. Mullen sold 1,350 shares of the stock in a transaction dated Friday, July 19th. The shares were sold at an average price of $139.12, for a total transaction of $187,812.00. Following the completion of the transaction, the insider now directly owns 139,171 shares in the company, valued at approximately $19,361,469.52. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Jeffrey Elliott Cooper sold 1,765 shares of Guidewire Software stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $134.20, for a total value of $236,863.00. Following the completion of the sale, the chief financial officer now directly owns 61,714 shares in the company, valued at approximately $8,282,018.80. The disclosure for this sale can be found here. Insiders sold 13,064 shares of company stock valued at $1,782,775 over the last three months. Company insiders own 0.38% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of GWRE. Truist Financial Corp grew its holdings in Guidewire Software by 10.9% during the fourth quarter. Truist Financial Corp now owns 7,215 shares of the technology company’s stock worth $787,000 after purchasing an additional 709 shares during the period. Amalgamated Bank grew its stake in Guidewire Software by 34.4% in the 4th quarter. Amalgamated Bank now owns 17,151 shares of the technology company’s stock valued at $1,870,000 after buying an additional 4,390 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Guidewire Software by 1.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 513,104 shares of the technology company’s stock worth $55,949,000 after acquiring an additional 5,949 shares during the period. AGF Management Ltd. bought a new position in shares of Guidewire Software during the fourth quarter worth approximately $3,189,000. Finally, Massachusetts Financial Services Co. MA acquired a new position in Guidewire Software in the 4th quarter valued at $105,311,000.

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.