Guidewire Software (NYSE:GWRE) Sets New 1-Year High at $173.92

Guidewire Software, Inc. (NYSE:GWRE)’s share price reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $173.92 and last traded at $171.40, with a volume of 30925 shares. The stock had previously closed at $172.43.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on GWRE shares. BTIG Research raised their price target on shares of Guidewire Software from $140.00 to $165.00 and gave the stock a “buy” rating in a research note on Friday, August 30th. Needham & Company LLC restated a “hold” rating on shares of Guidewire Software in a report on Friday, September 6th. Oppenheimer increased their price target on Guidewire Software from $170.00 to $185.00 and gave the company an “outperform” rating in a report on Friday, September 6th. DA Davidson reissued a “buy” rating and set a $168.00 price objective on shares of Guidewire Software in a research note on Friday, September 6th. Finally, JPMorgan Chase & Co. upped their target price on Guidewire Software from $133.00 to $145.00 and gave the company an “overweight” rating in a report on Wednesday, June 5th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $161.69.

Guidewire Software Stock Up 0.9 %

The business’s 50-day simple moving average is $149.67 and its two-hundred day simple moving average is $130.98. The firm has a market capitalization of $14.39 billion, a price-to-earnings ratio of -1,319.23 and a beta of 1.18.

Guidewire Software (NYSE:GWRE) last posted its quarterly earnings data on Thursday, September 5th. The technology company reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.54 by $0.08. Guidewire Software had a negative net margin of 0.62% and a negative return on equity of 1.32%. The firm had revenue of $291.50 million during the quarter, compared to analysts’ expectations of $283.84 million. During the same quarter last year, the company posted $0.30 EPS. The firm’s quarterly revenue was up 8.0% on a year-over-year basis. Sell-side analysts anticipate that Guidewire Software, Inc. will post 0.49 earnings per share for the current year.

Insider Activity at Guidewire Software

In other news, CEO Michael George Rosenbaum sold 23,379 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $172.16, for a total value of $4,024,928.64. Following the completion of the transaction, the chief executive officer now owns 287,662 shares of the company’s stock, valued at $49,523,889.92. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, insider John P. Mullen sold 1,350 shares of the business’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $149.03, for a total transaction of $201,190.50. Following the completion of the transaction, the insider now directly owns 137,821 shares of the company’s stock, valued at approximately $20,539,463.63. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael George Rosenbaum sold 23,379 shares of the stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $172.16, for a total value of $4,024,928.64. Following the completion of the sale, the chief executive officer now directly owns 287,662 shares in the company, valued at approximately $49,523,889.92. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 32,797 shares of company stock worth $5,570,502. 0.38% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Guidewire Software

A number of institutional investors and hedge funds have recently made changes to their positions in GWRE. Rothschild Investment LLC acquired a new position in shares of Guidewire Software during the second quarter worth $31,000. ORG Partners LLC acquired a new stake in shares of Guidewire Software during the 1st quarter worth about $29,000. Transcendent Capital Group LLC acquired a new stake in shares of Guidewire Software during the 4th quarter worth about $27,000. DT Investment Partners LLC purchased a new stake in Guidewire Software during the second quarter worth approximately $41,000. Finally, Lynx Investment Advisory acquired a new position in Guidewire Software in the second quarter valued at approximately $41,000.

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.