Guidewire Software (NYSE:GWRE) Sees Strong Trading Volume – Here’s Why

Guidewire Software, Inc. (NYSE:GWRE) shares saw unusually-strong trading volume on Wednesday . Approximately 1,169,290 shares changed hands during trading, an increase of 71% from the previous session’s volume of 685,380 shares.The stock last traded at $188.03 and had previously closed at $188.19.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on GWRE shares. BTIG Research raised their price target 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. Stifel Nicolaus raised their target price on shares of Guidewire Software from $175.00 to $200.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. 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 report on Monday, September 9th. Wells Fargo & Company raised their price objective on Guidewire Software from $200.00 to $205.00 and gave the company an “overweight” rating in a report on Friday, October 11th. Finally, JMP Securities boosted their price objective on Guidewire Software from $179.00 to $200.00 and gave the stock a “market outperform” rating in a research report on Friday, October 11th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $178.62.

Guidewire Software Stock Up 1.2 %

The firm has a market cap of $15.74 billion, a P/E ratio of -1,462.69 and a beta of 1.19. The company has a fifty day simple moving average of $163.75 and a 200-day simple moving average of $139.91.

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

Insider Buying and Selling at Guidewire Software

In other news, insider James Winston King sold 4,514 shares of the company’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $172.66, for a total transaction of $779,387.24. Following the sale, the insider now directly owns 48,237 shares in the company, valued at approximately $8,328,600.42. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider James Winston King sold 4,514 shares of Guidewire Software stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $172.66, for a total transaction of $779,387.24. Following the completion of the sale, the insider now directly owns 48,237 shares in the company, valued at approximately $8,328,600.42. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Jeffrey Elliott Cooper sold 4,956 shares of the firm’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $172.70, for a total transaction of $855,901.20. Following the completion of the transaction, the chief financial officer now directly owns 78,411 shares in the company, valued at $13,541,579.70. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 52,601 shares of company stock worth $8,984,892. Insiders own 0.38% of the company’s stock.

Institutional Investors Weigh In On Guidewire Software

Institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in Guidewire Software by 0.3% during the fourth 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. PNC Financial Services Group Inc. increased its holdings in Guidewire Software by 8.2% in the fourth quarter. PNC Financial Services Group Inc. now owns 8,900 shares of the technology company’s stock valued at $970,000 after buying an additional 678 shares in the last quarter. Nomura Holdings Inc. increased its position in shares of Guidewire Software by 11.1% in the fourth quarter. Nomura Holdings Inc. now owns 20,000 shares of the technology company’s stock valued at $2,181,000 after buying an additional 2,000 shares in the last quarter. Kapitalo Investimentos Ltda acquired a new position in shares of Guidewire Software during the fourth quarter valued at approximately $204,000. Finally, Banque Cantonale Vaudoise lifted its holdings in Guidewire Software by 78.5% in the 1st quarter. Banque Cantonale Vaudoise now owns 498 shares of the technology company’s stock valued at $58,000 after purchasing an additional 219 shares in 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.