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

Shares of Guidewire Software, Inc. (NYSE:GWRE) hit a new 52-week high during trading on Wednesday . The company traded as high as $192.36 and last traded at $189.98, with a volume of 46748 shares. The stock had previously closed at $186.21.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on GWRE shares. Wells Fargo & Company increased their target price on Guidewire Software from $200.00 to $205.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. JMP Securities raised their price objective on shares of Guidewire Software from $179.00 to $200.00 and gave the stock a “market outperform” rating in a report on Friday, October 11th. The Goldman Sachs Group upped their target price on shares of Guidewire Software from $146.00 to $170.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. DA Davidson reiterated a “buy” rating and issued a $168.00 price target on shares of Guidewire Software in a research note on Friday, September 6th. Finally, Royal Bank of Canada upped their price objective on Guidewire Software from $180.00 to $215.00 and gave the company an “outperform” rating in a research note on Friday, October 11th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $178.62.

Guidewire Software Price Performance

The stock has a market capitalization of $16.28 billion, a price-to-earnings ratio of -2,436.63, a price-to-earnings-growth ratio of 47.99 and a beta of 1.18. The company has a 50-day simple moving average of $177.98 and a two-hundred day simple moving average of $148.50.

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 the consensus estimate of $0.54 by $0.08. Guidewire Software had a negative net margin of 0.62% and a negative return on equity of 1.29%. The firm had revenue of $291.50 million for the quarter, compared to the consensus estimate of $283.84 million. During the same period last year, the firm posted $0.30 EPS. Guidewire Software’s quarterly revenue was up 8.0% compared to the same quarter last year. Research analysts anticipate that Guidewire Software, Inc. will post 0.53 EPS for the current year.

Insider Buying and Selling at Guidewire Software

In related news, insider John P. Mullen sold 1,350 shares of the company’s stock in a transaction dated Tuesday, August 20th. The shares were 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 owns 137,821 shares of the company’s stock, valued at $20,539,463.63. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CEO Michael George Rosenbaum sold 23,379 shares of Guidewire Software 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 transaction, the chief executive officer now directly owns 287,662 shares in the company, valued at approximately $49,523,889.92. This trade represents 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 this link. Also, insider John P. Mullen sold 1,350 shares of the company’s stock in a transaction on Tuesday, August 20th. The shares were 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 owns 137,821 shares of the company’s stock, valued at approximately $20,539,463.63. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 52,601 shares of company stock valued at $9,050,448 in the last quarter. Corporate insiders own 0.38% of the company’s stock.

Institutional Investors Weigh In On Guidewire Software

Hedge funds and other institutional investors have recently bought and sold shares of the business. Massachusetts Financial Services Co. MA grew its stake 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 during the last quarter. International Assets Investment Management LLC grew its position in Guidewire Software by 18,001.5% in the third quarter. International Assets Investment Management LLC now owns 258,128 shares of the technology company’s stock worth $472,220,000 after buying an additional 256,702 shares during the last quarter. Whale Rock Capital Management LLC grew its position in Guidewire Software by 23.4% in the first quarter. Whale Rock Capital Management LLC now owns 1,270,870 shares of the technology company’s stock worth $148,323,000 after buying an additional 240,622 shares during the last quarter. Teca Partners LP bought a new position in shares of Guidewire Software in the second quarter valued at $25,893,000. Finally, Linonia Partnership LP lifted its position in shares of Guidewire Software by 8.4% during the 2nd quarter. Linonia Partnership LP now owns 2,395,601 shares of the technology company’s stock valued at $330,329,000 after acquiring an additional 185,077 shares during the last quarter.

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.