Zacks Investment Research upgraded shares of Guidewire Software (NYSE:GWRE) from a hold rating to a buy rating in a research note published on Tuesday. They currently have $107.00 price target on the technology company’s stock.

According to Zacks, “Guidewire Software is benefiting from strong adoption of several cloud-based products. Further, growth in Services revenues and License revenues remains a key catalyst. The company’s elaborate partnership programs and strategic collaborations are major growth drivers. The company’s Partner Connect Program has been implemented worldwide, benefiting its customers in the property and casualty insurance industry. Guidewire’s acquisition strategies are also a major contributor to its growth. Notably, shares of Guidewire have outperformed the industry in the past year. Also, Guidewire’s cloud deployment partner, Amazon’s Web Services continues to gain momentum and this bodes well for it. However, transition to a subscription based model from a term license based one, might hurt the top line in the near term.”

Other equities research analysts have also recently issued reports about the stock. JPMorgan Chase & Co. boosted their price objective on shares of Guidewire Software to $117.00 and gave the company an overweight rating in a research report on Friday, September 21st. Stifel Nicolaus boosted their price objective on shares of Guidewire Software from $93.00 to $106.00 and gave the company a hold rating in a research report on Friday, September 21st. TheStreet raised shares of Guidewire Software from a c rating to a b- rating in a research report on Thursday, September 6th. Guggenheim assumed coverage on shares of Guidewire Software in a report on Tuesday, August 7th. They issued a buy rating and a $115.00 price target for the company. Finally, Deutsche Bank boosted their price target on shares of Guidewire Software to $110.00 and gave the company a buy rating in a report on Friday, September 21st. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The company currently has an average rating of Buy and an average target price of $109.90.

Guidewire Software stock opened at $88.78 on Tuesday. The stock has a market capitalization of $8.14 billion, a price-to-earnings ratio of 986.44, a P/E/G ratio of 49.51 and a beta of 1.19. The company has a debt-to-equity ratio of 0.21, a current ratio of 5.43 and a quick ratio of 5.43. Guidewire Software has a 1 year low of $70.06 and a 1 year high of $107.79.

Guidewire Software (NYSE:GWRE) last released its quarterly earnings data on Wednesday, September 5th. The technology company reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.05. The company had revenue of $248.60 million during the quarter, compared to analysts’ expectations of $238.86 million. Guidewire Software had a negative net margin of 2.97% and a positive return on equity of 1.83%. The firm’s quarterly revenue was up 37.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.59 EPS. As a group, research analysts expect that Guidewire Software will post 0.26 earnings per share for the current fiscal year.

In other news, Director Craig Conway sold 400 shares of the business’s stock in a transaction dated Monday, July 16th. The shares were sold at an average price of $95.28, for a total value of $38,112.00. Following the completion of the sale, the director now owns 9,393 shares in the company, valued at approximately $894,965.04. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Steven P. Sherry sold 5,446 shares of the business’s stock in a transaction dated Wednesday, September 19th. The shares were sold at an average price of $103.82, for a total transaction of $565,403.72. Following the completion of the sale, the insider now owns 6,868 shares of the company’s stock, valued at approximately $713,035.76. The disclosure for this sale can be found here. In the last 90 days, insiders sold 88,630 shares of company stock valued at $8,733,135. Company insiders own 0.69% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of GWRE. Northern Trust Corp raised its stake in shares of Guidewire Software by 4.2% during the 1st quarter. Northern Trust Corp now owns 378,188 shares of the technology company’s stock worth $30,569,000 after acquiring an additional 15,172 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Guidewire Software by 2.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 230,534 shares of the technology company’s stock worth $18,634,000 after acquiring an additional 5,146 shares in the last quarter. Stifel Financial Corp raised its stake in shares of Guidewire Software by 10.6% during the 1st quarter. Stifel Financial Corp now owns 16,536 shares of the technology company’s stock worth $1,333,000 after acquiring an additional 1,586 shares in the last quarter. UBS Group AG raised its stake in shares of Guidewire Software by 15.4% during the 1st quarter. UBS Group AG now owns 42,983 shares of the technology company’s stock worth $3,474,000 after acquiring an additional 5,749 shares in the last quarter. Finally, Bayesian Capital Management LP bought a new position in shares of Guidewire Software during the 1st quarter worth approximately $946,000.

About Guidewire Software

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, which offers policy, billing, and claims management functionality to insurers that prefer to subscribe to a cloud-based solution.

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