Guidewire Software (NYSE:GWRE) Sets New 52-Week High – Here’s What Happened

Guidewire Software, Inc. (NYSE:GWRE) reached a new 52-week high on Thursday . The company traded as high as $200.00 and last traded at $200.00, with a volume of 52634 shares. The stock had previously closed at $197.23.

Wall Street Analysts Forecast Growth

GWRE has been the topic of several analyst reports. DA Davidson reaffirmed a “buy” rating and issued a $168.00 target price on shares of Guidewire Software in a research report on Friday, September 6th. Robert W. Baird increased their price target on Guidewire Software from $204.00 to $220.00 and gave the company an “outperform” rating in a research report on Tuesday. Royal Bank of Canada reissued an “outperform” rating and issued a $215.00 price objective on shares of Guidewire Software in a research note on Tuesday. Citigroup increased their price objective on Guidewire Software from $123.00 to $165.00 and gave the stock a “neutral” rating in a research note on Monday, September 9th. Finally, Wells Fargo & Company increased their price objective on Guidewire Software from $205.00 to $215.00 and gave the stock an “overweight” rating in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, Guidewire Software currently has an average rating of “Moderate Buy” and a consensus price target of $183.69.

Guidewire Software Stock Performance

The business has a 50-day moving average price of $185.13 and a two-hundred day moving average price of $153.97.

Guidewire Software (NYSE:GWRE) last announced its quarterly earnings data on Thursday, September 5th. The technology company reported $0.62 EPS for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $283.84 million. During the same period in the previous year, the firm earned $0.30 earnings per share. The firm’s quarterly revenue was up 8.0% compared to the same quarter last year. On average, research analysts forecast that Guidewire Software, Inc. will post 0.53 EPS for the current year.

Insider Buying and Selling

In other news, insider James Winston King sold 4,514 shares of the company’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $172.66, for a total transaction of $779,387.24. Following the completion of the transaction, the insider now directly owns 48,237 shares of the company’s stock, valued at $8,328,600.42. This represents a 8.56 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, President John P. Mullen sold 1,350 shares of the stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $187.68, for a total value of $253,368.00. Following the transaction, the president now owns 190,611 shares in the company, valued at approximately $35,773,872.48. This trade represents a 0.70 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 52,601 shares of company stock valued at $9,116,179 over the last three months. Company insiders own 0.48% of the company’s stock.

Hedge Funds Weigh In On Guidewire Software

Hedge funds have recently added to or reduced their stakes in the stock. Rothschild Investment LLC bought a new position in shares of Guidewire Software in the 2nd quarter valued at $31,000. Assetmark Inc. increased its stake in shares of Guidewire Software by 537.0% in the 3rd quarter. Assetmark Inc. now owns 172 shares of the technology company’s stock valued at $31,000 after purchasing an additional 145 shares during the last quarter. Point72 Hong Kong Ltd bought a new position in shares of Guidewire Software in the 3rd quarter valued at $33,000. Lynx Investment Advisory bought a new position in shares of Guidewire Software in the 2nd quarter valued at $41,000. Finally, DT Investment Partners LLC acquired a new stake in shares of Guidewire Software during the 2nd quarter valued at $41,000.

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.