Guidewire Software (NYSE:GWRE) Sets New 52-Week High at $173.92

Guidewire Software, Inc. (NYSE:GWRE) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $173.92 and last traded at $171.40, with a volume of 30925 shares trading hands. The stock had previously closed at $172.43.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of Guidewire Software in a research report on Friday, September 6th. The Goldman Sachs Group upped their price target on shares of Guidewire Software from $146.00 to $170.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. Citigroup upped their price target on shares of Guidewire Software from $123.00 to $165.00 and gave the stock a “neutral” rating in a research report on Monday, September 9th. Wells Fargo & Company upped their price target on shares of Guidewire Software from $175.00 to $185.00 and gave the stock an “overweight” rating in a research report on Friday, September 6th. Finally, Bank of America upped their price target on shares of Guidewire Software from $80.00 to $95.00 and gave the stock an “underperform” rating in a research report on Wednesday, June 5th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Guidewire Software currently has a consensus rating of “Moderate Buy” and an average price target of $161.69.

Guidewire Software Stock Performance

The stock has a market cap of $14.43 billion, a price-to-earnings ratio of -1,342.62 and a beta of 1.18. The business’s fifty day simple moving average is $151.15 and its 200 day simple moving average is $131.67.

Guidewire Software (NYSE:GWRE) last issued its earnings results on Thursday, September 5th. The technology company reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.54 by $0.08. The business had revenue of $291.50 million for the quarter, compared to analyst estimates of $283.84 million. Guidewire Software had a negative net margin of 0.62% and a negative return on equity of 1.32%. The company’s revenue for the quarter was up 8.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.30 EPS. As a group, analysts forecast that Guidewire Software, Inc. will post 0.49 EPS for the current fiscal year.

Insider Activity

In other news, insider John P. Mullen sold 1,350 shares of the company’s stock in a transaction dated Friday, July 19th. The shares were sold at an average price of $139.12, for a total value of $187,812.00. Following the sale, the insider now owns 139,171 shares in the company, valued at approximately $19,361,469.52. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, insider John P. Mullen sold 1,350 shares of the stock in a transaction dated Friday, July 19th. The shares were sold at an average price of $139.12, for a total transaction of $187,812.00. Following the sale, the insider now owns 139,171 shares in the company, valued at $19,361,469.52. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Michael George Rosenbaum sold 23,379 shares of the stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $172.16, for a total transaction of $4,024,928.64. Following the sale, the chief executive officer now owns 287,662 shares in the company, valued at approximately $49,523,889.92. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 52,601 shares of company stock worth $8,984,892. 0.38% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Guidewire Software

Several institutional investors and hedge funds have recently bought and sold shares of GWRE. Vanguard Group Inc. grew its position in Guidewire Software by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 8,134,952 shares of the technology company’s stock worth $949,430,000 after purchasing an additional 67,439 shares during the last quarter. Wasatch Advisors LP grew its position in Guidewire Software by 4.2% in the 1st quarter. Wasatch Advisors LP now owns 2,874,758 shares of the technology company’s stock worth $335,513,000 after purchasing an additional 115,600 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in Guidewire Software by 23.2% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,747,349 shares of the technology company’s stock worth $378,832,000 after purchasing an additional 516,942 shares during the last quarter. Linonia Partnership LP grew its position in Guidewire Software by 8.4% in the 2nd quarter. Linonia Partnership LP now owns 2,395,601 shares of the technology company’s stock worth $330,329,000 after purchasing an additional 185,077 shares during the last quarter. Finally, Whale Rock Capital Management LLC grew its position in Guidewire Software by 23.4% in the 1st quarter. Whale Rock Capital Management LLC now owns 1,270,870 shares of the technology company’s stock worth $148,323,000 after purchasing an additional 240,622 shares during the last quarter.

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.