Guidewire Software (NYSE:GWRE) Shares Gap Up – Here’s Why

Guidewire Software, Inc. (NYSE:GWRE)’s stock price gapped up before the market opened on Thursday . The stock had previously closed at $183.49, but opened at $194.12. Guidewire Software shares last traded at $196.54, with a volume of 399,251 shares changing hands.

Wall Street Analyst Weigh In

GWRE has been the topic of a number of recent research reports. JMP Securities restated a “market outperform” rating and issued a $231.00 target price on shares of Guidewire Software in a research note on Friday, December 6th. Royal Bank of Canada lifted their price target on Guidewire Software from $215.00 to $230.00 and gave the stock an “outperform” rating in a research report on Friday, December 6th. Stifel Nicolaus upped their target price on shares of Guidewire Software from $200.00 to $220.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. DA Davidson reaffirmed a “buy” rating and set a $210.00 price objective on shares of Guidewire Software in a research report on Wednesday, December 4th. Finally, Wells Fargo & Company upped their target price on Guidewire Software from $215.00 to $220.00 and gave the company an “overweight” rating in a research note on Friday, December 6th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $196.08.

Guidewire Software Stock Up 0.4 %

The firm has a fifty day moving average of $182.60 and a 200-day moving average of $171.52. The company has a quick ratio of 2.66, a current ratio of 2.66 and a debt-to-equity ratio of 0.53. The firm has a market cap of $17.15 billion, a P/E ratio of 570.40, a price-to-earnings-growth ratio of 47.71 and a beta of 1.23.

Insider Activity

In other news, President John P. Mullen sold 7,165 shares of the firm’s stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $171.06, for a total transaction of $1,225,644.90. Following the completion of the sale, the president now owns 182,096 shares in the company, valued at approximately $31,149,341.76. This trade represents a 3.79 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Michael George Rosenbaum sold 5,932 shares of the stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $171.06, for a total transaction of $1,014,727.92. Following the completion of the transaction, the chief executive officer now directly owns 281,730 shares in the company, valued at approximately $48,192,733.80. This represents a 2.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 30,306 shares of company stock valued at $5,288,309. 0.48% of the stock is owned by insiders.

Institutional Investors Weigh In On Guidewire Software

Hedge funds and other institutional investors have recently made changes to their positions in the business. Versant Capital Management Inc bought a new position in shares of Guidewire Software in the 4th quarter valued at $25,000. Assetmark Inc. lifted its stake in Guidewire Software by 537.0% in the third quarter. Assetmark Inc. now owns 172 shares of the technology company’s stock valued at $31,000 after buying an additional 145 shares during the period. Point72 Hong Kong Ltd bought a new position in Guidewire Software in the third quarter worth approximately $33,000. Brooklyn Investment Group acquired a new position in Guidewire Software during the third quarter worth $42,000. Finally, R Squared Ltd acquired a new position in Guidewire Software during the 4th quarter valued at about $47,000.

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.