Guidewire Software (NYSE:GWRE) Reaches New 52-Week High Following Analyst Upgrade

Guidewire Software, Inc. (NYSE:GWRE)’s share price hit a new 52-week high during mid-day trading on Friday after JMP Securities raised their price target on the stock from $179.00 to $200.00. JMP Securities currently has a market outperform rating on the stock. Guidewire Software traded as high as $186.44 and last traded at $186.05, with a volume of 23219 shares. The stock had previously closed at $183.37.

Several other brokerages also recently commented on GWRE. BTIG Research increased their price objective on shares of Guidewire Software from $140.00 to $165.00 and gave the company a “buy” rating in a research note on Friday, August 30th. JPMorgan Chase & Co. raised their price objective on Guidewire Software from $170.00 to $210.00 and gave the company an “overweight” rating in a report on Thursday, October 3rd. Citigroup upped their target price on Guidewire Software from $123.00 to $165.00 and gave the stock a “neutral” rating in a report on Monday, September 9th. DA Davidson reissued a “buy” rating and set a $168.00 price target on shares of Guidewire Software in a research note on Friday, September 6th. Finally, The Goldman Sachs Group upped their price objective on Guidewire Software from $146.00 to $170.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. One analyst has rated the stock with a sell rating, two have given a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, Guidewire Software has an average rating of “Moderate Buy” and an average price target of $178.62.

Insider Transactions at Guidewire Software

In other news, insider John P. Mullen sold 1,350 shares of the company’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $149.03, for a total transaction of $201,190.50. Following the transaction, the insider now directly owns 137,821 shares of the company’s stock, valued at $20,539,463.63. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, insider John P. Mullen sold 1,350 shares of the company’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $149.03, for a total value of $201,190.50. Following the sale, the insider now owns 137,821 shares in the company, valued at $20,539,463.63. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Michael George Rosenbaum sold 23,379 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $172.16, for a total transaction of $4,024,928.64. Following the completion of the transaction, the chief executive officer now directly owns 287,662 shares in the company, valued at approximately $49,523,889.92. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 52,601 shares of company stock valued at $8,984,892 in the last 90 days. 0.38% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Guidewire Software

Several institutional investors have recently bought and sold shares of GWRE. Voisard Asset Management Group Inc. purchased a new stake in Guidewire Software in the 4th quarter valued at about $71,000. Vancity Investment Management Ltd lifted its holdings in Guidewire Software by 18.3% during the fourth quarter. Vancity Investment Management Ltd now owns 9,391 shares of the technology company’s stock worth $1,024,000 after acquiring an additional 1,453 shares during the period. Transcendent Capital Group LLC purchased a new position in Guidewire Software in the fourth quarter worth $27,000. Vanguard Group Inc. grew its stake in Guidewire Software by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 8,067,513 shares of the technology company’s stock valued at $879,682,000 after purchasing an additional 22,049 shares during the period. Finally, Rovin Capital UT ADV increased its position in shares of Guidewire Software by 31.2% during the 4th quarter. Rovin Capital UT ADV now owns 3,808 shares of the technology company’s stock valued at $415,000 after purchasing an additional 905 shares during the last quarter.

Guidewire Software Stock Performance

The stock has a 50 day moving average price of $161.87 and a 200 day moving average price of $138.58. The company has a market capitalization of $15.42 billion, a P/E ratio of -2,321.46 and a beta of 1.19.

Guidewire Software (NYSE:GWRE) last announced its quarterly earnings data on Thursday, September 5th. The technology company reported $0.62 EPS for the quarter, topping the consensus estimate of $0.54 by $0.08. Guidewire Software had a negative net margin of 0.62% and a negative return on equity of 1.29%. The business had revenue of $291.50 million for the quarter, compared to analyst estimates of $283.84 million. During the same quarter in the previous year, the firm posted $0.30 earnings per share. The company’s revenue for the quarter was up 8.0% on a year-over-year basis. As a group, sell-side analysts expect that Guidewire Software, Inc. will post 0.53 earnings per share for the current year.

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.