Oppenheimer Boosts Guidewire Software (NYSE:GWRE) Price Target to $275.00

Guidewire Software (NYSE:GWRE) had its price objective upped by Oppenheimer from $230.00 to $275.00 in a report issued on Wednesday morning,Benzinga reports. They currently have an outperform rating on the technology company’s stock.

Several other equities analysts also recently weighed in on GWRE. Needham & Company LLC reiterated a “hold” rating on shares of Guidewire Software in a research report on Wednesday. Robert W. Baird raised their price objective on Guidewire Software from $230.00 to $236.00 and gave the stock an “outperform” rating in a research note on Friday, March 7th. JMP Securities lifted their price objective on Guidewire Software from $250.00 to $281.00 and gave the company a “market outperform” rating in a research report on Wednesday. The Goldman Sachs Group increased their target price on shares of Guidewire Software from $210.00 to $240.00 and gave the stock a “buy” rating in a report on Monday, February 10th. Finally, Wells Fargo & Company raised their target price on shares of Guidewire Software from $220.00 to $265.00 and gave the stock an “overweight” rating in a research note on Wednesday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, Guidewire Software has an average rating of “Moderate Buy” and a consensus target price of $247.00.

Guidewire Software Price Performance

Shares of NYSE:GWRE opened at $255.36 on Wednesday. The company has a quick ratio of 2.66, a current ratio of 2.66 and a debt-to-equity ratio of 0.53. The stock has a market capitalization of $21.42 billion, a PE ratio of 709.34, a price-to-earnings-growth ratio of 37.21 and a beta of 1.15. The firm’s 50 day moving average price is $204.44 and its 200-day moving average price is $195.53. Guidewire Software has a twelve month low of $129.02 and a twelve month high of $263.20.

Guidewire Software (NYSE:GWRE) last released its quarterly earnings results on Tuesday, June 3rd. The technology company reported $0.88 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.41. Guidewire Software had a net margin of 2.91% and a return on equity of 2.38%. The business had revenue of $293.51 million for the quarter, compared to the consensus estimate of $286.40 million. During the same period last year, the firm earned $0.26 earnings per share. The company’s quarterly revenue was up 22.0% on a year-over-year basis. Equities research analysts expect that Guidewire Software will post 0.52 EPS for the current year.

Insider Activity

In other news, President John P. Mullen sold 6,116 shares of Guidewire Software stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $189.41, for a total value of $1,158,431.56. Following the completion of the transaction, the president now owns 166,330 shares in the company, valued at approximately $31,504,565.30. The trade was a 3.55% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider James Winston King sold 1,051 shares of Guidewire Software stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $189.41, for a total transaction of $199,069.91. Following the transaction, the insider now directly owns 44,613 shares of the company’s stock, valued at $8,450,148.33. The trade was a 2.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 28,671 shares of company stock worth $5,471,104 over the last quarter. Insiders own 0.48% of the company’s stock.

Institutional Investors Weigh In On Guidewire Software

A number of institutional investors and hedge funds have recently added to or reduced their stakes in GWRE. Blue Trust Inc. increased its holdings in Guidewire Software by 254.7% during the 4th quarter. Blue Trust Inc. now owns 642 shares of the technology company’s stock worth $117,000 after purchasing an additional 461 shares during the period. Chicago Partners Investment Group LLC bought a new position in shares of Guidewire Software during the 4th quarter worth $336,000. Bleakley Financial Group LLC increased its stake in shares of Guidewire Software by 13.4% during the fourth quarter. Bleakley Financial Group LLC now owns 3,389 shares of the technology company’s stock valued at $571,000 after buying an additional 400 shares during the period. Tobam purchased a new position in shares of Guidewire Software during the fourth quarter valued at $52,000. Finally, Empowered Funds LLC bought a new stake in shares of Guidewire Software in the fourth quarter valued at about $6,655,000.

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.