The Goldman Sachs Group Increases Guidewire Software (NYSE:GWRE) Price Target to $240.00

Guidewire Software (NYSE:GWRE) had its price target upped by The Goldman Sachs Group from $210.00 to $240.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the technology company’s stock. The Goldman Sachs Group’s price target indicates a potential upside of 11.89% from the company’s current price.

GWRE has been the subject of a number of other reports. Oppenheimer upped their price objective on Guidewire Software from $220.00 to $230.00 and gave the stock an “outperform” rating in a report on Friday, December 6th. Needham & Company LLC restated a “hold” rating on shares of Guidewire Software in a research note on Friday, December 6th. Royal Bank of Canada lifted their price objective on Guidewire Software from $215.00 to $230.00 and gave the company an “outperform” rating in a research note on Friday, December 6th. Robert W. Baird increased their target price on shares of Guidewire Software from $204.00 to $220.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 19th. Finally, Stifel Nicolaus lifted their price target on shares of Guidewire Software from $200.00 to $220.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, Guidewire Software currently has an average rating of “Moderate Buy” and an average target price of $204.50.

Guidewire Software Price Performance

Guidewire Software stock opened at $214.50 on Monday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 2.66 and a current ratio of 2.66. The company has a market cap of $17.91 billion, a price-to-earnings ratio of 595.83, a PEG ratio of 56.59 and a beta of 1.25. Guidewire Software has a 1 year low of $107.00 and a 1 year high of $219.59. The firm has a 50 day moving average price of $185.45 and a 200 day moving average price of $177.93.

Insider Buying and Selling

In other Guidewire Software news, CEO Michael George Rosenbaum sold 5,932 shares of Guidewire Software stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $171.06, for a total transaction of $1,014,727.92. Following the sale, the chief executive officer now directly owns 281,730 shares in the company, valued at $48,192,733.80. The trade was a 2.06 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, President John P. Mullen sold 1,350 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $197.72, for a total transaction of $266,922.00. Following the sale, the president now directly owns 189,261 shares of the company’s stock, valued at $37,420,684.92. The trade was a 0.71 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 37,506 shares of company stock valued at $6,789,679 in the last quarter. Company insiders own 0.48% of the company’s stock.

Hedge Funds Weigh In On Guidewire Software

Several large investors have recently added to or reduced their stakes in GWRE. Atomi Financial Group Inc. increased its stake in Guidewire Software by 22.2% during the fourth quarter. Atomi Financial Group Inc. now owns 2,688 shares of the technology company’s stock valued at $453,000 after purchasing an additional 488 shares during the last quarter. Donoghue Forlines LLC bought a new stake in shares of Guidewire Software during the 4th quarter valued at about $2,110,000. Icon Wealth Advisors LLC raised its stake in Guidewire Software by 72.4% during the third quarter. Icon Wealth Advisors LLC now owns 5,984 shares of the technology company’s stock worth $1,095,000 after acquiring an additional 2,512 shares during the period. Whale Rock Capital Management LLC lifted its holdings in Guidewire Software by 3.3% in the third quarter. Whale Rock Capital Management LLC now owns 972,743 shares of the technology company’s stock worth $177,954,000 after acquiring an additional 31,512 shares during the last quarter. Finally, GDS Wealth Management boosted its stake in Guidewire Software by 618.5% in the fourth quarter. GDS Wealth Management now owns 18,752 shares of the technology company’s stock valued at $3,161,000 after acquiring an additional 16,142 shares during the period.

Guidewire Software Company Profile

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.