Guidewire Software (NYSE:GWRE) Reaches New 1-Year High Following Analyst Upgrade

Guidewire Software, Inc. (NYSE:GWRE) hit a new 52-week high on Thursday after Stifel Nicolaus raised their price target on the stock from $230.00 to $270.00. Stifel Nicolaus currently has a buy rating on the stock. Guidewire Software traded as high as $263.20 and last traded at $253.19, with a volume of 4551804 shares trading hands. The stock had previously closed at $218.18.

A number of other equities research analysts have also weighed in on GWRE. Robert W. Baird boosted their target price on Guidewire Software from $230.00 to $236.00 and gave the company an “outperform” rating in a research note on Friday, March 7th. JMP Securities boosted their target price on Guidewire Software from $250.00 to $281.00 and gave the company a “market outperform” rating in a research note on Wednesday. Raymond James boosted their target price on Guidewire Software from $225.00 to $255.00 and gave the company an “outperform” rating in a research note on Wednesday. Oppenheimer boosted their target price on Guidewire Software from $230.00 to $275.00 and gave the company an “outperform” rating in a research note on Wednesday. Finally, DA Davidson reissued a “neutral” rating and issued a $226.00 target price on shares of Guidewire Software in a research note on Wednesday. One analyst has rated the stock with a sell rating, three have issued a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, Guidewire Software presently has a consensus rating of “Moderate Buy” and a consensus target price of $240.69.

Insider Transactions at Guidewire Software

In related news, insider James Winston King sold 1,051 shares of the company’s stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $189.41, for a total value of $199,069.91. Following the transaction, the insider now directly owns 44,613 shares of the company’s stock, valued at approximately $8,450,148.33. This represents a 2.30% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Michael George Rosenbaum sold 1,400 shares of the firm’s stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $212.02, for a total value of $296,828.00. Following the completion of the transaction, the chief executive officer now owns 248,793 shares in the company, valued at approximately $52,749,091.86. This trade represents a 0.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 28,671 shares of company stock valued at $5,471,104 in the last ninety days. 0.48% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Guidewire Software

A number of institutional investors and hedge funds have recently modified their holdings of the company. Banco Santander S.A. bought a new stake in Guidewire Software during the fourth quarter valued at about $427,000. MGO One Seven LLC bought a new stake in shares of Guidewire Software in the fourth quarter worth about $222,000. Amica Mutual Insurance Co. increased its holdings in shares of Guidewire Software by 118.8% in the fourth quarter. Amica Mutual Insurance Co. now owns 7,064 shares of the technology company’s stock worth $1,191,000 after purchasing an additional 3,835 shares during the last quarter. Truist Financial Corp increased its holdings in shares of Guidewire Software by 21.8% in the fourth quarter. Truist Financial Corp now owns 9,645 shares of the technology company’s stock worth $1,626,000 after purchasing an additional 1,724 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Guidewire Software by 0.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 522,586 shares of the technology company’s stock worth $88,098,000 after purchasing an additional 4,386 shares during the last quarter.

Guidewire Software Stock Up 16.0%

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 company has a fifty day moving average price of $201.77 and a 200-day moving average price of $194.70. The stock has a market capitalization of $21.24 billion, a P/E ratio of 703.31, a PEG ratio of 37.21 and a beta of 1.18.

Guidewire Software (NYSE:GWRE) last issued its quarterly earnings data on Tuesday, June 3rd. The technology company reported $0.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.47 by $0.41. The business had revenue of $293.51 million for the quarter, compared to the consensus estimate of $286.40 million. Guidewire Software had a return on equity of 2.38% and a net margin of 2.91%. The company’s quarterly revenue was up 22.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.26 earnings per share. As a group, research analysts forecast that Guidewire Software, Inc. will post 0.52 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.