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.
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
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