JMP Securities Forecasts Strong Price Appreciation for Guidewire Software (NYSE:GWRE) Stock

Guidewire Software (NYSE:GWRE) had its price target raised by JMP Securities from $200.00 to $231.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has a market outperform rating on the technology company’s stock.

Several other equities research analysts have also weighed in on GWRE. Robert W. Baird lifted their price target on Guidewire Software from $204.00 to $220.00 and gave the company an “outperform” rating in a research report on Tuesday, November 19th. Stifel Nicolaus boosted their target price on shares of Guidewire Software from $200.00 to $220.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. DA Davidson reiterated a “buy” rating and issued a $168.00 price target on shares of Guidewire Software in a research note on Friday, September 6th. Citigroup boosted their price objective on shares of Guidewire Software from $123.00 to $165.00 and gave the stock a “neutral” rating in a research note on Monday, September 9th. Finally, JPMorgan Chase & Co. raised their target price on shares of Guidewire Software from $170.00 to $210.00 and gave the company an “overweight” rating in a research note on Thursday, October 3rd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $186.08.

Guidewire Software Trading Up 0.1 %

Shares of Guidewire Software stock opened at $202.98 on Monday. The company’s fifty day simple moving average is $186.96 and its two-hundred day simple moving average is $156.04. Guidewire Software has a 12-month low of $95.02 and a 12-month high of $207.10. The company has a market cap of $16.95 billion, a P/E ratio of -2,537.25, a PEG ratio of 52.47 and a beta of 1.18.

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

Insider Activity

In other 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 transaction of $4,024,928.64. Following the transaction, the chief executive officer now directly owns 287,662 shares of the company’s stock, valued at $49,523,889.92. This represents a 7.52 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider John P. Mullen sold 6,718 shares of Guidewire Software stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $172.16, for a total value of $1,156,570.88. Following the completion of the sale, the insider now directly owns 160,099 shares of the company’s stock, valued at $27,562,643.84. The trade was a 4.03 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 52,601 shares of company stock valued at $9,116,179 over the last ninety days. 0.48% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Guidewire Software by 21.1% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 345 shares of the technology company’s stock worth $63,000 after purchasing an additional 60 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in Guidewire Software by 4.0% during the second quarter. Allspring Global Investments Holdings LLC now owns 2,050 shares of the technology company’s stock valued at $283,000 after buying an additional 79 shares during the last quarter. CIBC Asset Management Inc raised its position in Guidewire Software by 3.7% in the third quarter. CIBC Asset Management Inc now owns 2,451 shares of the technology company’s stock worth $448,000 after acquiring an additional 87 shares during the period. Vanguard Personalized Indexing Management LLC boosted its stake 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 worth $1,252,000 after acquiring an additional 116 shares during the last quarter. Finally, CHICAGO TRUST Co NA grew its position in shares of Guidewire Software by 4.8% during the 2nd 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 during the period.

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.