Guidewire Software (NYSE:GWRE – Free Report) had its price target raised by Robert W. Baird from $202.00 to $235.00 in a report issued on Monday,Benzinga reports. They currently have an outperform rating on the technology company’s stock.
GWRE has been the subject of a number of other research reports. Citizens Jmp decreased their price objective on shares of Guidewire Software from $300.00 to $220.00 and set a “market outperform” rating for the company in a research report on Friday, June 5th. Wells Fargo & Company dropped their target price on Guidewire Software from $210.00 to $190.00 and set an “overweight” rating on the stock in a research report on Friday, June 5th. Weiss Ratings restated a “hold (c)” rating on shares of Guidewire Software in a research note on Wednesday, June 3rd. Piper Sandler assumed coverage on Guidewire Software in a report on Monday, August 10th. They issued an “overweight” rating and a $210.00 price target for the company. Finally, Oppenheimer increased their price target on Guidewire Software from $180.00 to $200.00 and gave the stock an “outperform” rating in a research report on Monday, August 17th. Thirteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, Guidewire Software currently has a consensus rating of “Moderate Buy” and a consensus target price of $223.93.
Get Our Latest Stock Analysis on GWRE
Guidewire Software Price Performance
Guidewire Software (NYSE:GWRE – Get Free Report) last posted its earnings results on Thursday, June 4th. The technology company reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.08. The firm had revenue of $372.54 million during the quarter, compared to analyst estimates of $355.92 million. Guidewire Software had a net margin of 11.25% and a return on equity of 12.62%. The business’s quarterly revenue was up 26.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.88 EPS. Analysts expect that Guidewire Software will post 1.83 EPS for the current year.
Insider Transactions at Guidewire Software
In related news, insider James Winston King sold 1,684 shares of Guidewire Software stock in a transaction dated Thursday, July 9th. The stock was sold at an average price of $130.64, for a total value of $219,997.76. Following the sale, the insider directly owned 30,018 shares in the company, valued at approximately $3,921,551.52. The trade was a 5.31% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President John P. Mullen sold 14,400 shares of the business’s stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $185.00, for a total value of $2,664,000.00. Following the sale, the president owned 116,715 shares of the company’s stock, valued at approximately $21,592,275. This trade represents a 10.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 47,093 shares of company stock worth $7,185,902 in the last three months. 0.46% of the stock is owned by corporate insiders.
Institutional Trading of Guidewire Software
A number of institutional investors have recently made changes to their positions in GWRE. California State Teachers Retirement System raised its stake in Guidewire Software by 11,874.0% in the 2nd quarter. California State Teachers Retirement System now owns 11,757,428 shares of the technology company’s stock valued at $1,446,752,000 after purchasing an additional 11,659,237 shares during the last quarter. Bamco Inc. NY acquired a new stake in Guidewire Software during the 2nd quarter worth $1,106,768,000. Linonia Partnership LP acquired a new stake in Guidewire Software during the 2nd quarter worth $853,165,000. Route One Investment Company L.P. purchased a new stake in shares of Guidewire Software during the second quarter worth $227,564,000. Finally, Geode Capital Management LLC grew its holdings in shares of Guidewire Software by 8.9% during the fourth quarter. Geode Capital Management LLC now owns 1,778,201 shares of the technology company’s stock worth $357,504,000 after buying an additional 145,924 shares in the last quarter.
About Guidewire Software
Guidewire Software, Inc develops software products and cloud services for property and casualty (P&C) insurance carriers. Headquartered in San Mateo, California, the company’s offerings are designed to help insurers manage the core functions of their business—policy administration, billing and claims—while supporting digital engagement, analytics and operational modernization.
Guidewire’s core product portfolio is commonly known as the InsuranceSuite, which includes PolicyCenter for policy administration, BillingCenter for billing and receivables, and ClaimCenter for claims management.
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