Bank of America Increases Guidewire Software (GWRE) Price Target to $112.00

Guidewire Software (NYSE:GWRE) had its price target raised by Bank of America from $98.00 to $112.00 in a report issued on Friday. The firm currently has a neutral rating on the technology company’s stock.

Other research analysts also recently issued research reports about the company. DA Davidson increased their price objective on Guidewire Software to $118.00 and gave the company a buy rating in a report on Friday. They noted that the move was a valuation call. William Blair reiterated an outperform rating on shares of Guidewire Software in a report on Wednesday, June 6th. Stifel Nicolaus increased their price objective on Guidewire Software from $93.00 to $106.00 and gave the company a hold rating in a report on Friday. KeyCorp increased their price objective on Guidewire Software from $100.00 to $108.00 and gave the company an overweight rating in a report on Friday. Finally, JPMorgan Chase & Co. increased their price objective on Guidewire Software to $117.00 and gave the company an overweight rating in a report on Friday. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and nine have issued a buy rating to the company. The stock presently has an average rating of Buy and a consensus target price of $108.40.

Shares of NYSE GWRE opened at $98.70 on Friday. The company has a current ratio of 5.43, a quick ratio of 5.97 and a debt-to-equity ratio of 0.21. Guidewire Software has a 1-year low of $70.06 and a 1-year high of $107.79. The stock has a market cap of $8.20 billion, a price-to-earnings ratio of 1,096.67, a P/E/G ratio of 32.89 and a beta of 1.19.

Guidewire Software (NYSE:GWRE) last issued its quarterly earnings results on Wednesday, September 5th. The technology company reported $0.81 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.76 by $0.05. Guidewire Software had a positive return on equity of 1.83% and a negative net margin of 2.97%. The company had revenue of $248.60 million for the quarter, compared to the consensus estimate of $238.86 million. During the same quarter in the prior year, the business earned $0.59 EPS. Guidewire Software’s revenue was up 37.3% on a year-over-year basis. research analysts expect that Guidewire Software will post 0.26 earnings per share for the current fiscal year.

In other news, insider Steven P. Sherry sold 5,446 shares of the stock in a transaction dated Wednesday, September 19th. The stock was sold at an average price of $103.82, for a total value of $565,403.72. Following the transaction, the insider now owns 6,868 shares in the company, valued at approximately $713,035.76. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Marcus Ryu sold 15,935 shares of the stock in a transaction dated Tuesday, September 18th. The shares were sold at an average price of $105.31, for a total value of $1,678,114.85. Following the completion of the transaction, the chief executive officer now owns 16,098 shares in the company, valued at approximately $1,695,280.38. The disclosure for this sale can be found here. In the last quarter, insiders sold 80,593 shares of company stock worth $7,765,126. Company insiders own 0.69% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Nelson Van Denburg & Campbell Wealth Management Group LLC acquired a new stake in shares of Guidewire Software in the 2nd quarter valued at about $142,000. TLP Group LLC acquired a new stake in shares of Guidewire Software in the 1st quarter valued at about $197,000. First Republic Investment Management Inc. acquired a new stake in shares of Guidewire Software in the 2nd quarter valued at about $217,000. Verition Fund Management LLC acquired a new stake in shares of Guidewire Software in the 1st quarter valued at about $221,000. Finally, Burney Co. acquired a new stake in shares of Guidewire Software in the 2nd quarter valued at about $229,000.

About Guidewire Software

Guidewire Software, Inc provides software products for property and casualty insurers. It offers Guidewire InsuranceNow, a cloud-based platform that offers policy, billing, and claims management functionality to insurers. The company's products include Guidewire InsuranceSuite comprising Guidewire PolicyCenter, an underwriting and policy administration application; Guidewire ClaimCenter, a lifecycle management application; Guidewire BillingCenter, manages billing, payment plans, agent commissions, and external payment systems; and Guidewire Underwriting Management, a cloud-based underwriting application.

Further Reading: Price to Earnings Ratio (PE), For Valuing Stocks

Analyst Recommendations for Guidewire Software (NYSE:GWRE)

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