Guidewire Software (NYSE:GWRE) Sets New 52-Week High – Here’s What Happened

Guidewire Software, Inc. (NYSE:GWRE) reached a new 52-week high on Thursday . The stock traded as high as $200.00 and last traded at $200.00, with a volume of 52634 shares changing hands. The stock had previously closed at $197.23.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on GWRE shares. Citigroup raised their price objective on Guidewire Software from $123.00 to $165.00 and gave the company a “neutral” rating in a report on Monday, September 9th. DA Davidson reissued a “buy” rating and set a $168.00 price objective on shares of Guidewire Software in a report on Friday, September 6th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $215.00 target price on shares of Guidewire Software in a report on Tuesday. JMP Securities lifted their target price on Guidewire Software from $179.00 to $200.00 and gave the stock a “market outperform” rating in a report on Friday, October 11th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Guidewire Software in a report on Friday, October 11th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $183.69.

Guidewire Software Stock Performance

The company has a 50-day moving average of $185.13 and a 200 day moving average of $153.97.

Guidewire Software (NYSE:GWRE) last posted 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. Guidewire Software had a negative return on equity of 1.29% and a negative net margin of 0.62%. The firm had revenue of $291.50 million during the quarter, compared to analysts’ expectations of $283.84 million. During the same period in the prior year, the business earned $0.30 EPS. The company’s revenue for the quarter was up 8.0% compared to the same quarter last year. As a group, equities research analysts predict that Guidewire Software, Inc. will post 0.53 EPS for the current year.

Insider Transactions at Guidewire Software

In other Guidewire Software news, CEO Michael George Rosenbaum sold 23,379 shares of the company’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 transaction of $4,024,928.64. Following the transaction, the chief executive officer now owns 287,662 shares in the company, valued at approximately $49,523,889.92. This represents a 7.52 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President John P. Mullen sold 1,350 shares of the firm’s stock in a transaction on Friday, October 18th. The stock was sold at an average price of $187.68, for a total value of $253,368.00. Following the completion of the transaction, the president now directly owns 190,611 shares in the company, valued at approximately $35,773,872.48. This represents a 0.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 52,601 shares of company stock worth $9,116,179. 0.48% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Guidewire Software

A number of institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in Guidewire Software by 0.8% during the first quarter. Vanguard Group Inc. now owns 8,134,952 shares of the technology company’s stock valued at $949,430,000 after acquiring an additional 67,439 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in Guidewire Software by 24.7% during the third quarter. Massachusetts Financial Services Co. MA now owns 3,426,907 shares of the technology company’s stock valued at $626,918,000 after acquiring an additional 679,558 shares during the period. Linonia Partnership LP raised its holdings in Guidewire Software by 8.4% during the second 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 period. Geode Capital Management LLC raised its holdings in Guidewire Software by 0.5% during the third quarter. Geode Capital Management LLC now owns 1,330,074 shares of the technology company’s stock valued at $243,580,000 after acquiring an additional 6,223 shares during the period. Finally, Whale Rock Capital Management LLC raised its holdings in Guidewire Software by 23.4% during the first quarter. Whale Rock Capital Management LLC now owns 1,270,870 shares of the technology company’s stock valued at $148,323,000 after acquiring an additional 240,622 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.