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

Guidewire Software, Inc. (NYSE:GWRE) shares hit a new 52-week high during mid-day trading on Friday after Wells Fargo & Company raised their price target on the stock from $200.00 to $205.00. Wells Fargo & Company currently has an overweight 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.

GWRE has been the subject of a number of other research reports. Citigroup raised their target price on Guidewire Software from $123.00 to $165.00 and gave the company a “neutral” rating in a report on Monday, September 9th. Oppenheimer raised their target price on Guidewire Software from $185.00 to $200.00 and gave the company an “outperform” rating in a report on Friday, October 4th. JPMorgan Chase & Co. raised their target price on Guidewire Software from $170.00 to $210.00 and gave the company an “overweight” rating in a report on Thursday, October 3rd. BTIG Research raised their target price on Guidewire Software from $140.00 to $165.00 and gave the company a “buy” rating in a report on Friday, August 30th. Finally, Robert W. Baird raised their target price on Guidewire Software from $175.00 to $204.00 and gave the company an “outperform” rating in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, Guidewire Software presently has a consensus rating of “Moderate Buy” and an average price target of $174.31.

Insider Buying and Selling at Guidewire Software

In other news, insider John P. Mullen sold 1,350 shares of the business’s stock in a transaction that occurred on Friday, July 19th. The stock was sold at an average price of $139.12, for a total value of $187,812.00. Following the completion of the sale, the insider now directly owns 139,171 shares in the company, valued at approximately $19,361,469.52. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Guidewire Software news, CEO Michael George Rosenbaum sold 23,379 shares of the business’s stock in a transaction on Tuesday, September 17th. The stock was 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 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider John P. Mullen sold 1,350 shares of the business’s stock in a transaction on Friday, July 19th. The stock was sold at an average price of $139.12, for a total value of $187,812.00. Following the transaction, the insider now owns 139,171 shares of the company’s stock, valued at $19,361,469.52. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 52,601 shares of company stock valued at $8,984,892 in the last three months. Corporate insiders own 0.38% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Transcendent Capital Group LLC acquired a new stake in shares of Guidewire Software in the fourth quarter valued at $27,000. ORG Partners LLC acquired a new stake in shares of Guidewire Software in the first quarter valued at $29,000. Rothschild Investment LLC acquired a new stake in shares of Guidewire Software in the second quarter valued at $31,000. Lynx Investment Advisory acquired a new stake in shares of Guidewire Software in the second quarter valued at $41,000. Finally, DT Investment Partners LLC acquired a new stake in shares of Guidewire Software in the second quarter valued at $41,000.

Guidewire Software Price Performance

The firm has a market cap of $15.49 billion, a price-to-earnings ratio of -2,304.71 and a beta of 1.19. The company has a fifty day moving average price of $161.03 and a two-hundred day moving average price of $138.08.

Guidewire Software (NYSE:GWRE) last announced its earnings results 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 during the quarter, compared to the consensus estimate of $283.84 million. During the same period in the prior year, the business posted $0.30 earnings per share. Guidewire Software’s revenue was up 8.0% compared to the same quarter last year. On average, research analysts expect that Guidewire Software, Inc. will post 0.53 earnings per share for the current fiscal 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.