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

Guidewire Software (NYSE:GWREFree Report) had its price target lifted by Citigroup from $199.00 to $247.00 in a report published on Thursday,Benzinga reports. Citigroup currently has a neutral rating on the technology company’s stock.

Several other equities analysts have also recently issued reports on GWRE. The Goldman Sachs Group upped their target price on shares of Guidewire Software from $235.00 to $270.00 and gave the company a “buy” rating in a research note on Wednesday. Stifel Nicolaus increased their price objective on shares of Guidewire Software from $230.00 to $270.00 and gave the company a “buy” rating in a research report on Wednesday. Royal Bank of Canada lifted their target price on shares of Guidewire Software from $230.00 to $290.00 and gave the stock an “outperform” rating in a research report on Wednesday. Raymond James boosted their target price on shares of Guidewire Software from $225.00 to $255.00 and gave the company an “outperform” rating in a research note on Wednesday. Finally, Robert W. Baird increased their price target on Guidewire Software from $230.00 to $236.00 and gave the company an “outperform” rating in a report on Friday, March 7th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Guidewire Software has a consensus rating of “Moderate Buy” and an average target price of $247.00.

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Guidewire Software Stock Performance

GWRE stock opened at $255.36 on Thursday. The stock’s 50 day simple moving average is $204.44 and its 200 day simple moving average is $195.52. The company has a current ratio of 2.66, a quick ratio of 2.66 and a debt-to-equity ratio of 0.53. Guidewire Software has a 12-month low of $129.90 and a 12-month high of $263.20. The stock has a market capitalization of $21.42 billion, a PE ratio of 709.34, a price-to-earnings-growth ratio of 37.21 and a beta of 1.15.

Guidewire Software (NYSE:GWREGet Free Report) last posted its quarterly earnings results on Tuesday, June 3rd. The technology company reported $0.88 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.41. The firm had revenue of $293.51 million during the quarter, compared to analysts’ expectations of $286.40 million. Guidewire Software had a return on equity of 2.38% and a net margin of 2.91%. The company’s revenue was up 22.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.26 earnings per share. As a group, research analysts forecast that Guidewire Software will post 0.52 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Michael George Rosenbaum sold 1,400 shares of the stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $170.04, for a total value of $238,056.00. Following the completion of the sale, the chief executive officer now directly owns 269,130 shares of the company’s stock, valued at approximately $45,762,865.20. This represents a 0.52% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider James Winston King sold 1,051 shares of the firm’s stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $189.41, for a total transaction of $199,069.91. Following the sale, the insider now owns 44,613 shares in the company, valued at approximately $8,450,148.33. The trade was a 2.30% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 28,671 shares of company stock valued at $5,471,104 in the last 90 days. Company insiders own 0.48% of the company’s stock.

Institutional Trading of Guidewire Software

Hedge funds and other institutional investors have recently modified their holdings of the company. First Hawaiian Bank bought a new position in Guidewire Software in the 1st quarter worth $1,546,000. Strs Ohio purchased a new position in shares of Guidewire Software in the first quarter valued at about $1,336,000. Advisors Capital Management LLC lifted its position in shares of Guidewire Software by 3.8% in the first quarter. Advisors Capital Management LLC now owns 43,253 shares of the technology company’s stock valued at $8,104,000 after acquiring an additional 1,599 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Guidewire Software by 8.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 301,940 shares of the technology company’s stock worth $56,571,000 after acquiring an additional 24,287 shares during the period. Finally, Vancity Investment Management Ltd purchased a new stake in shares of Guidewire Software during the first quarter worth about $1,066,000.

Guidewire Software Company Profile

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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.

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Analyst Recommendations for Guidewire Software (NYSE:GWRE)

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