Guidewire Software (NYSE:GWRE) Hits New 12-Month High Following Analyst Upgrade

Shares of Guidewire Software, Inc. (NYSE:GWRE) reached a new 52-week high during trading on Friday after Oppenheimer raised their price target on the stock from $185.00 to $200.00. Oppenheimer currently has an outperform rating on the stock. Guidewire Software traded as high as $184.33 and last traded at $184.05, with a volume of 6746 shares. The stock had previously closed at $182.31.

Several other equities research analysts have also commented on the company. Robert W. Baird upped their price target on Guidewire Software from $152.00 to $165.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 3rd. Needham & Company LLC reissued a “hold” rating on shares of Guidewire Software in a research report on Friday, September 6th. Citigroup lifted their price target on shares of Guidewire Software from $123.00 to $165.00 and gave the company a “neutral” rating in a research report on Monday, September 9th. DA Davidson reiterated a “buy” rating and set a $168.00 price objective on shares of Guidewire Software in a research note on Friday, September 6th. Finally, BTIG Research raised their target price on shares of Guidewire Software from $140.00 to $165.00 and gave the company a “buy” rating in a research note on Friday, August 30th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $170.92.

Insider Activity at Guidewire Software

In other Guidewire Software news, insider John P. Mullen sold 1,350 shares of Guidewire Software stock in a transaction that occurred on Friday, July 19th. The stock was sold at an average price of $139.12, for a total transaction of $187,812.00. Following the sale, the insider now directly owns 139,171 shares in the company, valued at approximately $19,361,469.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Jeffrey Elliott Cooper sold 4,956 shares of the business’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $172.70, for a total value of $855,901.20. Following the completion of the sale, the chief financial officer now directly owns 78,411 shares of the company’s stock, valued at $13,541,579.70. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider John P. Mullen sold 1,350 shares of the stock in a transaction that occurred on Friday, July 19th. The stock was sold at an average price of $139.12, for a total value of $187,812.00. Following the transaction, the insider now directly owns 139,171 shares in the company, valued at approximately $19,361,469.52. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 52,601 shares of company stock valued at $8,984,892. Insiders own 0.38% of the company’s stock.

Hedge Funds Weigh In On Guidewire Software

A number of hedge funds have recently added to or reduced their stakes in GWRE. Vanguard Group Inc. raised its holdings in shares of Guidewire Software by 0.8% during the first quarter. Vanguard Group Inc. now owns 8,134,952 shares of the technology company’s stock worth $949,430,000 after purchasing an additional 67,439 shares during the period. Wasatch Advisors LP raised its stake in Guidewire Software by 4.2% during the first quarter. Wasatch Advisors LP now owns 2,874,758 shares of the technology company’s stock worth $335,513,000 after acquiring an additional 115,600 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in shares of Guidewire Software by 23.2% during the second quarter. Massachusetts Financial Services Co. MA now owns 2,747,349 shares of the technology company’s stock valued at $378,832,000 after acquiring an additional 516,942 shares during the period. Linonia Partnership LP grew its position in shares of Guidewire Software by 8.4% during the second quarter. Linonia Partnership LP now owns 2,395,601 shares of the technology company’s stock worth $330,329,000 after acquiring an additional 185,077 shares during the last quarter. Finally, Whale Rock Capital Management LLC increased its holdings in shares of Guidewire Software by 23.4% in the 1st quarter. Whale Rock Capital Management LLC now owns 1,270,870 shares of the technology company’s stock worth $148,323,000 after acquiring an additional 240,622 shares during the period.

Guidewire Software Trading Up 0.6 %

The company’s 50-day moving average is $157.60 and its two-hundred day moving average is $135.65. The stock has a market capitalization of $15.15 billion, a P/E ratio of -1,415.38 and a beta of 1.18.

Guidewire Software (NYSE:GWRE) last issued its quarterly earnings data on Thursday, September 5th. The technology company reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $291.50 million during the quarter, compared to the consensus estimate of $283.84 million. During the same period in the previous year, the firm posted $0.30 earnings per share. The business’s revenue was up 8.0% on a year-over-year basis. Sell-side analysts expect that Guidewire Software, Inc. will post 0.49 EPS for the current fiscal 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.