Guidewire Software (NYSE:GWRE) Sets New 52-Week High After Analyst Upgrade

Guidewire Software, Inc. (NYSE:GWRE) hit a new 52-week high during trading on Friday after Oppenheimer raised their price target on the stock from $185.00 to $200.00. Oppenheimer currently has an outperform rating on the stock. Guidewire Software traded as high as $184.33 and last traded at $184.05, with a volume of 6746 shares. The stock had previously closed at $182.31.

A number of other research analysts have also commented on the stock. The Goldman Sachs Group boosted their price target on shares of Guidewire Software from $146.00 to $170.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. Stifel Nicolaus lifted their price objective on shares of Guidewire Software from $175.00 to $200.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. DA Davidson reissued a “buy” rating and issued a $168.00 target price on shares of Guidewire Software in a research note on Friday, September 6th. JMP Securities raised their price objective on Guidewire Software from $141.00 to $179.00 and gave the company a “market outperform” rating in a report on Friday, September 6th. Finally, Citigroup upped their target price on Guidewire Software from $123.00 to $165.00 and gave the stock a “neutral” rating in a research note on Monday, September 9th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $170.92.

Insider Transactions at Guidewire Software

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

Institutional Trading of Guidewire Software

A number of hedge funds have recently modified their holdings of GWRE. Massachusetts Financial Services Co. MA boosted its position in shares of 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 in the last quarter. Whale Rock Capital Management LLC grew its position in Guidewire Software by 23.4% during the 1st quarter. Whale Rock Capital Management LLC now owns 1,270,870 shares of the technology company’s stock valued at $148,323,000 after purchasing an additional 240,622 shares during the last quarter. Teca Partners LP bought a new stake in Guidewire Software during the 2nd quarter valued at about $25,893,000. Linonia Partnership LP raised its holdings in Guidewire Software by 8.4% in the second quarter. Linonia Partnership LP now owns 2,395,601 shares of the technology company’s stock worth $330,329,000 after buying an additional 185,077 shares during the last quarter. Finally, Clearbridge Investments LLC raised its holdings in Guidewire Software by 121.0% in the 1st quarter. Clearbridge Investments LLC now owns 295,595 shares of the technology company’s stock worth $34,499,000 after acquiring an additional 161,856 shares during the last quarter.

Guidewire Software Stock Up 1.0 %

The business has a fifty day moving average price of $158.33 and a 200-day moving average price of $136.14. The stock has a market capitalization of $15.23 billion, a P/E ratio of -1,417.08 and a beta of 1.19.

Guidewire Software (NYSE:GWRE) last issued its quarterly earnings data on Thursday, September 5th. The technology company reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.54 by $0.08. The company had revenue of $291.50 million for the quarter, compared to the consensus estimate of $283.84 million. Guidewire Software had a negative net margin of 0.62% and a negative return on equity of 1.29%. The firm’s revenue for the quarter was up 8.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.30 earnings per share. On average, equities analysts expect that Guidewire Software, Inc. will post 0.49 earnings per share for the current fiscal year.

About Guidewire Software

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.