Guidewire Software (NYSE:GWRE) Price Target Lowered to $88.00 at Citigroup

Guidewire Software (NYSE:GWREGet Rating) had its price target lowered by analysts at Citigroup from $89.00 to $88.00 in a research report issued to clients and investors on Wednesday, The Fly reports. Citigroup’s target price indicates a potential upside of 9.41% from the company’s previous close.

Several other analysts have also recently commented on GWRE. DA Davidson decreased their price target on shares of Guidewire Software to $114.00 and set a “na” rating for the company in a report on Tuesday, May 24th. BTIG Research lowered their price target on shares of Guidewire Software from $146.00 to $125.00 in a report on Wednesday, March 9th. Royal Bank of Canada assumed coverage on shares of Guidewire Software in a research note on Tuesday, April 19th. They issued an “outperform” rating and a $125.00 target price on the stock. StockNews.com downgraded shares of Guidewire Software from a “hold” rating to a “sell” rating in a research note on Wednesday, June 1st. Finally, JMP Securities upgraded shares of Guidewire Software from a “market perform” rating to an “outperform” rating and set a $110.00 price target on the stock in a research report on Friday, March 18th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Guidewire Software currently has an average rating of “Hold” and a consensus target price of $113.00.

Shares of GWRE opened at $80.43 on Wednesday. Guidewire Software has a twelve month low of $70.83 and a twelve month high of $130.95. The firm has a market capitalization of $6.72 billion, a P/E ratio of -51.56 and a beta of 1.31. The company has a current ratio of 4.66, a quick ratio of 4.66 and a debt-to-equity ratio of 0.24. The firm’s 50-day moving average is $84.95 and its two-hundred day moving average is $95.81.

Guidewire Software (NYSE:GWREGet Rating) last posted its quarterly earnings results on Tuesday, June 7th. The technology company reported ($0.26) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.02. Guidewire Software had a negative net margin of 16.97% and a negative return on equity of 6.50%. The company had revenue of $197.45 million for the quarter, compared to the consensus estimate of $187.73 million. During the same quarter last year, the firm posted ($0.39) earnings per share. Guidewire Software’s revenue was up 20.4% on a year-over-year basis. Analysts predict that Guidewire Software will post -1.91 EPS for the current year.

In other Guidewire Software news, CFO Jeffrey Elliott Cooper sold 1,234 shares of the business’s stock in a transaction on Thursday, March 17th. The stock was sold at an average price of $87.92, for a total value of $108,493.28. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Michael Polelle sold 562 shares of the business’s stock in a transaction on Thursday, March 17th. The stock was sold at an average price of $87.92, for a total value of $49,411.04. The disclosure for this sale can be found here. Insiders have sold 7,444 shares of company stock valued at $654,255 in the last quarter. 0.17% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently modified their holdings of the stock. The Manufacturers Life Insurance Company bought a new position in Guidewire Software in the 3rd quarter worth about $205,000. Natixis increased its stake in Guidewire Software by 118.3% in the 3rd quarter. Natixis now owns 16,843 shares of the technology company’s stock worth $2,002,000 after acquiring an additional 9,129 shares during the last quarter. HighTower Advisors LLC increased its stake in Guidewire Software by 1.0% in the 3rd quarter. HighTower Advisors LLC now owns 13,438 shares of the technology company’s stock worth $1,596,000 after acquiring an additional 131 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Guidewire Software by 3.2% in the 3rd quarter. Dimensional Fund Advisors LP now owns 314,723 shares of the technology company’s stock worth $37,412,000 after acquiring an additional 9,861 shares during the last quarter. Finally, Dark Forest Capital Management LP bought a new position in Guidewire Software in the 3rd quarter worth about $130,000.

Guidewire Software Company Profile (Get Rating)

Guidewire Software, Inc provides software products for property and casualty insurers worldwide. The company offers Guidewire InsuranceSuite comprising Guidewire PolicyCenter, BillingCenter, and ClaimCenter 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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