Guidewire Software (NYSE:GWRE) Hits New 1-Year High – Here’s What Happened

Guidewire Software, Inc. (NYSE:GWRE)’s stock price hit a new 52-week high during trading on Wednesday . The company traded as high as $197.81 and last traded at $197.48, with a volume of 12826 shares changing hands. The stock had previously closed at $195.55.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. BTIG Research boosted their price objective on shares of Guidewire Software from $140.00 to $165.00 and gave the company a “buy” rating in a research report on Friday, August 30th. Stifel Nicolaus upped their price target on shares of Guidewire Software from $175.00 to $200.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Wells Fargo & Company increased their price objective on Guidewire Software from $200.00 to $205.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. JPMorgan Chase & Co. upped their target price on Guidewire Software from $170.00 to $210.00 and gave the stock an “overweight” rating in a research report on Thursday, October 3rd. Finally, Robert W. Baird lifted their price target on Guidewire Software from $175.00 to $204.00 and gave the company an “outperform” rating in a report on Tuesday, October 8th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, Guidewire Software currently has an average rating of “Moderate Buy” and an average target price of $178.62.

Guidewire Software Stock Performance

The firm’s 50 day moving average price is $180.83 and its two-hundred day moving average price is $150.76.

Guidewire Software (NYSE:GWRE) last announced its quarterly earnings data on Thursday, September 5th. The technology company reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.54 by $0.08. The company had revenue of $291.50 million for the quarter, compared to analysts’ expectations of $283.84 million. Guidewire Software had a negative return on equity of 1.29% and a negative net margin of 0.62%. The business’s revenue was up 8.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.30 EPS. On average, equities research analysts predict that Guidewire Software, Inc. will post 0.53 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, President John P. Mullen sold 1,350 shares of Guidewire Software stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $187.68, for a total transaction of $253,368.00. Following the sale, the president now directly owns 190,611 shares of the company’s stock, valued at approximately $35,773,872.48. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Guidewire Software news, President John P. Mullen sold 1,350 shares of the business’s stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $187.68, for a total transaction of $253,368.00. Following the completion of the sale, the president now directly owns 190,611 shares of the company’s stock, valued at approximately $35,773,872.48. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Michael George Rosenbaum sold 23,379 shares of the 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 sale, the chief executive officer now owns 287,662 shares of the company’s stock, valued at approximately $49,523,889.92. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 52,601 shares of company stock worth $9,050,448 over the last three months. Insiders own 0.48% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Brooklyn Investment Group bought a new stake in shares of Guidewire Software during the 3rd quarter worth $42,000. The Manufacturers Life Insurance Company boosted its holdings in shares of Guidewire Software by 2.4% in the third quarter. The Manufacturers Life Insurance Company now owns 24,239 shares of the technology company’s stock worth $4,434,000 after buying an additional 579 shares during the last quarter. Bank of Montreal Can grew its position in Guidewire Software by 48.7% during the third quarter. Bank of Montreal Can now owns 45,703 shares of the technology company’s stock valued at $8,134,000 after buying an additional 14,970 shares during the period. DRW Securities LLC purchased a new stake in Guidewire Software during the third quarter valued at approximately $892,000. Finally, Harvest Fund Management Co. Ltd raised its position in Guidewire Software by 31.0% in the third quarter. Harvest Fund Management Co. Ltd now owns 3,017 shares of the technology company’s stock worth $552,000 after acquiring an additional 714 shares during the period.

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.