Guidewire Software (NYSE:GWRE) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Guidewire Software (NYSE:GWRE) had its price target raised by stock analysts at JPMorgan Chase & Co. from $210.00 to $228.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the technology company’s stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 28.40% from the stock’s current price.

Several other brokerages have also weighed in on GWRE. Royal Bank of Canada restated an “outperform” rating and set a $215.00 target price on shares of Guidewire Software in a research report on Tuesday, November 19th. Needham & Company LLC restated a “hold” rating on shares of Guidewire Software in a research report on Friday. Wells Fargo & Company upped their target price on shares of Guidewire Software from $215.00 to $220.00 and gave the stock an “overweight” rating in a research report on Friday. Oppenheimer increased their price target on shares of Guidewire Software from $220.00 to $230.00 and gave the company an “outperform” rating in a research report on Friday. Finally, Robert W. Baird raised their price objective on shares of Guidewire Software from $204.00 to $220.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 19th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, Guidewire Software presently has an average rating of “Moderate Buy” and an average target price of $193.00.

Guidewire Software Stock Down 14.0 %

NYSE GWRE opened at $177.57 on Friday. The firm has a 50-day moving average price of $191.58 and a 200 day moving average price of $160.81. Guidewire Software has a 52-week low of $95.02 and a 52-week high of $209.15. The stock has a market capitalization of $14.83 billion, a P/E ratio of 493.25, a P/E/G ratio of 53.58 and a beta of 1.18.

Guidewire Software (NYSE:GWRE) last issued its earnings results on Thursday, September 5th. The technology company reported $0.62 earnings per share for the quarter, topping 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 company had revenue of $291.50 million for the quarter, compared to analyst estimates of $283.84 million. During the same period in the prior year, the business posted $0.30 earnings per share. The firm’s revenue for the quarter was up 8.0% compared to the same quarter last year. On average, equities research analysts expect that Guidewire Software will post 0.53 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Guidewire Software news, CFO Jeffrey Elliott Cooper sold 10,334 shares of Guidewire Software stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $172.16, for a total value of $1,779,101.44. Following the transaction, the chief financial officer now owns 83,367 shares in the company, valued at $14,352,462.72. This trade represents a 11.03 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, President John P. Mullen sold 1,350 shares of Guidewire Software stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $197.72, for a total transaction of $266,922.00. Following the completion of the transaction, the president now owns 189,261 shares in the company, valued at approximately $37,420,684.92. This trade represents a 0.71 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 52,601 shares of company stock valued at $9,116,179. Company insiders own 0.48% of the company’s stock.

Hedge Funds Weigh In On Guidewire Software

A number of hedge funds have recently made changes to their positions in GWRE. Massachusetts Financial Services Co. MA boosted its holdings in shares of Guidewire Software by 24.7% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,426,907 shares of the technology company’s stock valued at $626,918,000 after purchasing an additional 679,558 shares during the last quarter. International Assets Investment Management LLC boosted its holdings in shares of Guidewire Software by 18,001.5% in the 3rd quarter. International Assets Investment Management LLC now owns 258,128 shares of the technology company’s stock valued at $472,220,000 after purchasing an additional 256,702 shares during the last quarter. Teca Partners LP acquired a new position in shares of Guidewire Software during the 2nd quarter valued at $25,893,000. Linonia Partnership LP lifted its holdings in shares of Guidewire Software by 8.4% during the 2nd quarter. Linonia Partnership LP now owns 2,395,601 shares of the technology company’s stock valued at $330,329,000 after acquiring an additional 185,077 shares in the last quarter. Finally, Great Lakes Advisors LLC acquired a new position in shares of Guidewire Software during the 2nd quarter valued at $22,318,000.

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.