Guidewire Software’s (GWRE) “Outperform” Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada reaffirmed their outperform rating on shares of Guidewire Software (NYSE:GWRE) in a research report released on Tuesday,Benzinga reports. They currently have a $215.00 price target on the technology company’s stock.

Other analysts have also recently issued research reports about the company. The Goldman Sachs Group upped their price objective on Guidewire Software from $146.00 to $170.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. JPMorgan Chase & Co. upped their price target on shares of Guidewire Software from $170.00 to $210.00 and gave the company an “overweight” rating in a research report on Thursday, October 3rd. JMP Securities raised their price objective on shares of Guidewire Software from $179.00 to $200.00 and gave the stock a “market outperform” rating in a report on Friday, October 11th. Oppenheimer upped their target price on shares of Guidewire Software from $200.00 to $220.00 and gave the company an “outperform” rating in a report on Tuesday. Finally, BTIG Research lifted their price target on shares of Guidewire Software from $140.00 to $165.00 and gave the stock a “buy” rating in a research note on Friday, August 30th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $183.69.

Guidewire Software Stock Performance

GWRE opened at $200.00 on Tuesday. The company’s 50-day simple moving average is $185.74 and its two-hundred day simple moving average is $154.29. The stock has a market capitalization of $16.70 billion, a P/E ratio of -2,499.64, a P/E/G ratio of 50.80 and a beta of 1.18. Guidewire Software has a 52-week low of $95.02 and a 52-week high of $201.60.

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 analysts’ consensus estimates of $0.54 by $0.08. Guidewire Software had a negative net margin of 0.62% and a negative return on equity of 1.29%. The company had revenue of $291.50 million for the quarter, compared to the consensus estimate of $283.84 million. During the same quarter in the prior year, the firm earned $0.30 earnings per share. The firm’s revenue for the quarter was up 8.0% compared to the same quarter last year. Research analysts forecast that Guidewire Software will post 0.53 EPS for the current fiscal year.

Insider Transactions at Guidewire Software

In other news, insider James Winston King sold 4,514 shares of Guidewire Software stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $172.66, for a total transaction of $779,387.24. Following the completion of the sale, the insider now owns 48,237 shares of the company’s stock, valued at approximately $8,328,600.42. The trade was a 8.56 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider John P. Mullen sold 6,718 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The shares were 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 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. In the last 90 days, insiders sold 52,601 shares of company stock worth $9,116,179. 0.48% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Guidewire Software

Several hedge funds have recently made changes to their positions in GWRE. Rothschild Investment LLC purchased a new stake in Guidewire Software in the second quarter worth about $31,000. Assetmark Inc. raised its holdings in shares of Guidewire Software by 537.0% in the 3rd quarter. Assetmark Inc. now owns 172 shares of the technology company’s stock valued at $31,000 after purchasing an additional 145 shares in the last quarter. Point72 Hong Kong Ltd purchased a new stake in shares of Guidewire Software in the 3rd quarter worth approximately $33,000. Lynx Investment Advisory bought a new position in shares of Guidewire Software during the second quarter valued at approximately $41,000. Finally, DT Investment Partners LLC purchased a new position in Guidewire Software during the second quarter valued at approximately $41,000.

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.