Guidewire Software (NYSE:GWRE) Reaches New 1-Year High – Should You Buy?

Guidewire Software, Inc. (NYSE:GWRE) reached a new 52-week high on Friday . The company traded as high as $212.00 and last traded at $206.30, with a volume of 3568828 shares. The stock had previously closed at $183.49.

Analysts Set New Price Targets

Several research firms recently commented on GWRE. The Goldman Sachs Group began coverage on Guidewire Software in a research note on Thursday. They issued a “buy” rating and a $210.00 target price for the company. Wells Fargo & Company upped their target price on Guidewire Software from $215.00 to $220.00 and gave the company an “overweight” rating in a research note on Friday, December 6th. Royal Bank of Canada upped their target price on Guidewire Software from $215.00 to $230.00 and gave the company an “outperform” rating in a research note on Friday, December 6th. JPMorgan Chase & Co. upped their target price on Guidewire Software from $210.00 to $228.00 and gave the company an “overweight” rating in a research note on Friday, December 6th. Finally, Stifel Nicolaus boosted their price target on Guidewire Software from $200.00 to $220.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. 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 company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $196.08.

Guidewire Software Price Performance

The company has a 50 day simple moving average of $182.60 and a 200-day simple moving average of $171.75. The stock has a market cap of $17.15 billion, a price-to-earnings ratio of 570.40, a PEG ratio of 47.71 and a beta of 1.23. The company has a quick ratio of 2.66, a current ratio of 2.66 and a debt-to-equity ratio of 0.53.

Insider Buying and Selling

In other Guidewire Software news, CEO Michael George Rosenbaum sold 5,932 shares of the stock in a transaction 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 completion of the transaction, the chief executive officer now directly owns 281,730 shares of the company’s stock, valued at approximately $48,192,733.80. This trade represents a 2.06 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, President John P. Mullen sold 700 shares of the stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $210.00, for a total value of $147,000.00. Following the transaction, the president now directly owns 177,746 shares of the company’s stock, valued at approximately $37,326,660. The trade was a 0.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 30,306 shares of company stock valued at $5,288,309 in the last three months. 0.48% of the stock is currently owned by corporate insiders.

Institutional Trading of Guidewire Software

Several hedge funds and other institutional investors have recently modified their holdings of the business. Canada Pension Plan Investment Board acquired a new stake in Guidewire Software during the second quarter valued at $55,000. Xponance Inc. boosted its position in Guidewire Software by 79.8% during the second quarter. Xponance Inc. now owns 6,908 shares of the technology company’s stock valued at $953,000 after purchasing an additional 3,066 shares during the last quarter. AQR Capital Management LLC boosted its position in Guidewire Software by 65.7% during the second quarter. AQR Capital Management LLC now owns 291,907 shares of the technology company’s stock valued at $40,251,000 after purchasing an additional 115,757 shares during the last quarter. Dark Forest Capital Management LP acquired a new stake in Guidewire Software during the second quarter valued at $381,000. Finally, The Manufacturers Life Insurance Company boosted its position in Guidewire Software by 17.1% during the second quarter. The Manufacturers Life Insurance Company now owns 23,660 shares of the technology company’s stock valued at $3,262,000 after purchasing an additional 3,462 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.