Oppenheimer Reaffirms “Outperform” Rating for Guidewire Software (NYSE:GWRE)

Oppenheimer reissued their outperform rating on shares of Guidewire Software (NYSE:GWRE) in a report published on Friday morning, Benzinga reports. The firm currently has a $200.00 price objective on the technology company’s stock, up from their prior price objective of $185.00.

A number of other equities research analysts have also recently weighed in on the stock. Stifel Nicolaus lifted their price target on shares of Guidewire Software from $175.00 to $200.00 and gave the company a buy rating in a research report on Thursday, September 26th. Needham & Company LLC reaffirmed a hold rating on shares of Guidewire Software in a research report on Friday. Citigroup raised their price objective on shares of Guidewire Software from $123.00 to $165.00 and gave the company a neutral rating in a research note on Monday, September 9th. JPMorgan Chase & Co. boosted their price target on shares of Guidewire Software from $170.00 to $210.00 and gave the stock an overweight rating in a research note on Thursday, October 3rd. Finally, Royal Bank of Canada lifted their target price on Guidewire Software from $170.00 to $180.00 and gave the company an outperform rating in a report on Friday, September 6th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of Moderate Buy and an average target price of $178.62.

Guidewire Software Stock Up 1.3 %

Shares of NYSE:GWRE opened at $185.82 on Friday. Guidewire Software has a 52-week low of $85.15 and a 52-week high of $187.85. The business has a fifty day moving average of $161.87 and a two-hundred day moving average of $138.91. The stock has a market cap of $15.36 billion, a P/E ratio of -1,429.38 and a beta of 1.19.

Guidewire Software (NYSE:GWRE) last posted its quarterly earnings results 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 1.29%. The business had revenue of $291.50 million during the quarter, compared to analysts’ expectations of $283.84 million. During the same quarter in the prior year, the company posted $0.30 EPS. The business’s revenue for the quarter was up 8.0% on a year-over-year basis. On average, equities analysts anticipate that Guidewire Software will post 0.53 earnings per share for the current year.

Insider Transactions at Guidewire Software

In related news, insider John P. Mullen sold 1,350 shares of the business’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $149.03, for a total value of $201,190.50. Following the completion of the sale, the insider now directly owns 137,821 shares of the company’s stock, valued at $20,539,463.63. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider John P. Mullen sold 1,350 shares of the firm’s stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $149.03, for a total transaction of $201,190.50. Following the transaction, the insider now directly owns 137,821 shares in the company, valued at approximately $20,539,463.63. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider James Winston King sold 4,514 shares of the stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $172.66, for a total transaction of $779,387.24. Following the sale, the insider now owns 48,237 shares of the company’s stock, valued at approximately $8,328,600.42. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 52,601 shares of company stock worth $8,984,892. 0.38% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Transcendent Capital Group LLC acquired a new position in Guidewire Software in the 4th quarter valued at $27,000. ORG Partners LLC acquired a new stake in shares of Guidewire Software in the first quarter valued at about $29,000. Rothschild Investment LLC purchased a new stake in Guidewire Software during the second quarter worth about $31,000. Lynx Investment Advisory acquired a new position in Guidewire Software during the second quarter worth about $41,000. Finally, DT Investment Partners LLC purchased a new position in Guidewire Software in the second quarter valued at about $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.