Guidewire Software (NYSE:GWRE) Sets New 12-Month High After Analyst Upgrade

Guidewire Software, Inc. (NYSE:GWRE)’s stock price reached a new 52-week high on Thursday after Royal Bank of Canada raised their price target on the stock from $130.00 to $170.00. Royal Bank of Canada currently has an outperform rating on the stock. Guidewire Software traded as high as $138.21 and last traded at $137.93, with a volume of 309807 shares trading hands. The stock had previously closed at $134.86.

GWRE has been the subject of several other reports. Wells Fargo & Company increased their price objective on Guidewire Software from $140.00 to $150.00 and gave the stock an “overweight” rating in a research report on Friday, June 21st. Bank of America raised their price objective on Guidewire Software from $80.00 to $95.00 and gave the stock an “underperform” rating in a research report on Wednesday, June 5th. Citigroup boosted their price objective on shares of Guidewire Software from $109.00 to $122.00 and gave the company a “neutral” rating in a report on Tuesday, June 4th. DA Davidson reaffirmed a “buy” rating and set a $126.00 target price on shares of Guidewire Software in a research note on Tuesday, March 5th. Finally, BTIG Research boosted their price target on shares of Guidewire Software from $135.00 to $140.00 and gave the company a “buy” rating in a research note on Wednesday, June 5th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $133.08.

Insider Activity at Guidewire Software

In related news, insider John P. Mullen sold 1,350 shares of the business’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $111.35, for a total transaction of $150,322.50. Following the completion of the transaction, the insider now owns 148,047 shares in the company, valued at $16,485,033.45. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, insider John P. Mullen sold 1,350 shares of the firm’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $111.35, for a total transaction of $150,322.50. Following the sale, the insider now owns 148,047 shares of the company’s stock, valued at approximately $16,485,033.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Michael George Rosenbaum sold 5,582 shares of the company’s stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of $134.54, for a total value of $751,002.28. Following the completion of the transaction, the chief executive officer now directly owns 239,793 shares of the company’s stock, valued at $32,261,750.22. The disclosure for this sale can be found here. Insiders have sold a total of 13,064 shares of company stock valued at $1,710,361 over the last 90 days. 0.38% of the stock is owned by corporate insiders.

Institutional Trading of Guidewire Software

Several institutional investors and hedge funds have recently added to or reduced their stakes in GWRE. Cetera Investment Advisers increased its holdings in shares of Guidewire Software by 648.0% in the first quarter. Cetera Investment Advisers now owns 18,117 shares of the technology company’s stock valued at $2,114,000 after purchasing an additional 15,695 shares during the period. Comerica Bank grew its position in Guidewire Software by 61.7% in the 1st quarter. Comerica Bank now owns 25,024 shares of the technology company’s stock valued at $2,921,000 after buying an additional 9,546 shares during the last quarter. Motley Fool Asset Management LLC acquired a new position in Guidewire Software in the 1st quarter valued at $3,826,000. Vancity Investment Management Ltd raised its position in Guidewire Software by 15.1% during the 1st quarter. Vancity Investment Management Ltd now owns 10,808 shares of the technology company’s stock worth $1,261,000 after buying an additional 1,417 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. lifted its stake in shares of Guidewire Software by 1.4% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 630,335 shares of the technology company’s stock worth $73,566,000 after acquiring an additional 8,995 shares during the period.

Guidewire Software Trading Up 0.5 %

The company’s 50 day moving average price is $122.99 and its 200 day moving average price is $116.24. The company has a market cap of $11.39 billion, a price-to-earnings ratio of -1,060.30 and a beta of 1.14.

Guidewire Software (NYSE:GWRE) last announced its quarterly earnings data on Tuesday, June 4th. The technology company reported ($0.09) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.14. Guidewire Software had a negative return on equity of 1.19% and a negative net margin of 1.11%. The company had revenue of $240.68 million for the quarter, compared to analyst estimates of $231.46 million. Sell-side analysts predict that Guidewire Software, Inc. will post -0.34 earnings per share for the current year.

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.