Guidewire Software (NYSE:GWRE) Reaches New 52-Week High – Here’s Why

Guidewire Software, Inc. (NYSE:GWRE)’s share price hit a new 52-week high during mid-day trading on Friday . The company traded as high as $212.00 and last traded at $206.30, with a volume of 3568828 shares traded. The stock had previously closed at $183.49.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. DA Davidson reaffirmed a “buy” rating and set a $210.00 price objective on shares of Guidewire Software in a research note on Wednesday, December 4th. Oppenheimer boosted their price target on shares of Guidewire Software from $220.00 to $230.00 and gave the company an “outperform” rating in a research report on Friday, December 6th. Stifel Nicolaus increased their price objective on Guidewire Software from $200.00 to $220.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. Robert W. Baird boosted their target price on Guidewire Software from $204.00 to $220.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 19th. Finally, JPMorgan Chase & Co. upped their target price on Guidewire Software from $210.00 to $228.00 and gave the stock an “overweight” rating in a research note on Friday, December 6th. One equities 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, Guidewire Software currently has a consensus rating of “Moderate Buy” and an average price target of $196.08.

Guidewire Software Stock Performance

The company has a debt-to-equity ratio of 0.53, a current ratio of 2.66 and a quick ratio of 2.66. The company has a 50 day simple moving average of $182.34 and a 200-day simple moving average of $171.07. The firm has a market cap of $17.23 billion, a PE ratio of 573.06, a price-to-earnings-growth ratio of 47.19 and a beta of 1.23.

Insider Activity

In other news, CEO Michael George Rosenbaum sold 5,932 shares of the stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $171.06, for a total transaction of $1,014,727.92. Following the completion of the sale, the chief executive officer now owns 281,730 shares of the company’s stock, valued at approximately $48,192,733.80. This represents a 2.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider James Winston King sold 270 shares of Guidewire Software stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $174.78, for a total transaction of $47,190.60. Following the completion of the transaction, the insider now directly owns 45,664 shares in the company, valued at approximately $7,981,153.92. The trade was a 0.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 29,606 shares of company stock valued at $5,141,309. Corporate insiders own 0.48% of the company’s stock.

Institutional Investors Weigh In On Guidewire Software

Institutional investors have recently added to or reduced their stakes in the company. Hsbc Holdings PLC boosted its holdings in shares of Guidewire Software by 54.2% during the second quarter. Hsbc Holdings PLC now owns 22,612 shares of the technology company’s stock worth $3,131,000 after purchasing an additional 7,948 shares during the period. Benjamin F. Edwards & Company Inc. raised its position in Guidewire Software by 22.0% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 1,550 shares of the technology company’s stock valued at $214,000 after purchasing an additional 280 shares during the last quarter. Canada Pension Plan Investment Board purchased a new stake in Guidewire Software in the 2nd quarter worth approximately $55,000. Xponance Inc. grew its position in shares of Guidewire Software by 79.8% in the 2nd quarter. Xponance Inc. now owns 6,908 shares of the technology company’s stock worth $953,000 after buying an additional 3,066 shares during the last quarter. Finally, AQR Capital Management LLC increased its stake in shares of Guidewire Software by 65.7% during the second quarter. AQR Capital Management LLC now owns 291,907 shares of the technology company’s stock valued at $40,251,000 after buying an additional 115,757 shares during the period.

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.