Citigroup Issues Positive Forecast for Guidewire Software (NYSE:GWRE) Stock Price

Guidewire Software (NYSE:GWRE) had its target price lifted by stock analysts at Citigroup from $242.00 to $245.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has a “neutral” rating on the technology company’s stock. Citigroup’s target price points to a potential upside of 16.26% from the company’s previous close.

Other analysts have also issued reports about the company. Raymond James Financial reiterated an “outperform” rating and set a $275.00 price objective (up from $255.00) on shares of Guidewire Software in a report on Friday, September 5th. Wall Street Zen downgraded Guidewire Software from a “buy” rating to a “hold” rating in a research note on Friday, November 28th. Wells Fargo & Company boosted their price target on Guidewire Software from $265.00 to $275.00 and gave the company an “overweight” rating in a research note on Friday, September 5th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Guidewire Software in a research report on Wednesday, October 8th. Finally, Stifel Nicolaus boosted their target price on shares of Guidewire Software from $270.00 to $300.00 and gave the stock a “buy” rating in a research report on Friday, September 5th. Nine investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Guidewire Software has a consensus rating of “Moderate Buy” and a consensus price target of $272.25.

Guidewire Software Stock Down 0.2%

Shares of GWRE traded down $0.33 during trading hours on Friday, reaching $210.74. The company’s stock had a trading volume of 449,379 shares, compared to its average volume of 895,292. The firm has a market cap of $17.92 billion, a price-to-earnings ratio of 200.71, a P/E/G ratio of 13.27 and a beta of 1.08. Guidewire Software has a 1-year low of $165.08 and a 1-year high of $272.60. The company has a quick ratio of 2.77, a current ratio of 2.77 and a debt-to-equity ratio of 0.46. The company has a 50 day moving average of $228.63 and a two-hundred day moving average of $228.96.

Guidewire Software (NYSE:GWRE) last posted its quarterly earnings results on Wednesday, December 3rd. The technology company reported $0.66 EPS for the quarter, hitting the consensus estimate of $0.66. The business had revenue of $332.64 million during the quarter, compared to analysts’ expectations of $316.62 million. Guidewire Software had a net margin of 7.23% and a return on equity of 10.46%. The firm’s quarterly revenue was up 26.5% compared to the same quarter last year. During the same period last year, the company posted $0.43 earnings per share. As a group, research analysts predict that Guidewire Software will post 0.52 EPS for the current fiscal year.

Insider Transactions at Guidewire Software

In related news, insider James Winston King sold 798 shares of the company’s stock in a transaction on Monday, November 17th. The shares were sold at an average price of $222.54, for a total transaction of $177,586.92. Following the completion of the transaction, the insider directly owned 37,019 shares in the company, valued at $8,238,208.26. This represents a 2.11% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Michael George Rosenbaum sold 1,400 shares of the stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $213.44, for a total transaction of $298,816.00. Following the completion of the sale, the chief executive officer owned 249,558 shares of the company’s stock, valued at approximately $53,265,659.52. The trade was a 0.56% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 112,342 shares of company stock worth $27,113,960. Insiders own 0.46% of the company’s stock.

Hedge Funds Weigh In On Guidewire Software

Hedge funds have recently made changes to their positions in the business. Advisors Asset Management Inc. bought a new stake in Guidewire Software in the first quarter valued at about $25,000. Quarry LP acquired a new position in shares of Guidewire Software in the 1st quarter worth approximately $28,000. Root Financial Partners LLC acquired a new stake in Guidewire Software in the 3rd quarter valued at $29,000. Measured Wealth Private Client Group LLC bought a new stake in Guidewire Software in the third quarter valued at $29,000. Finally, Newbridge Financial Services Group Inc. acquired a new position in Guidewire Software during the second quarter worth $30,000.

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.