Guidewire Software (NYSE:GWRE) Hits New 12-Month High – Still a Buy?

Guidewire Software, Inc. (NYSE:GWRE)’s share price hit a new 52-week high during trading on Friday . The company traded as high as $212.00 and last traded at $206.30, with a volume of 3568828 shares changing hands. The stock had previously closed at $183.49.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on GWRE shares. JMP Securities restated a “market outperform” rating and set a $231.00 price objective on shares of Guidewire Software in a report on Friday, December 6th. JPMorgan Chase & Co. boosted their price target on shares of Guidewire Software from $210.00 to $228.00 and gave the company an “overweight” rating in a research note on Friday, December 6th. Needham & Company LLC reaffirmed a “hold” rating on shares of Guidewire Software in a research note on Friday, December 6th. Royal Bank of Canada lifted their price objective on shares of Guidewire Software from $215.00 to $230.00 and gave the company an “outperform” rating in a report on Friday, December 6th. Finally, DA Davidson restated a “buy” rating and issued a $210.00 target price on shares of Guidewire Software in a report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, two have given a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Guidewire Software presently has a consensus rating of “Moderate Buy” and an average price target of $196.08.

Guidewire Software Stock Performance

The firm has a market cap of $17.23 billion, a PE ratio of 573.06, a PEG ratio of 47.19 and a beta of 1.23. 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 50-day simple moving average of $182.34 and a two-hundred day simple moving average of $171.07.

Insider Activity at Guidewire Software

In related news, CEO Michael George Rosenbaum sold 1,400 shares of the company’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $179.91, for a total value of $251,874.00. Following the transaction, the chief executive officer now owns 278,930 shares in the company, valued at approximately $50,182,296.30. This represents a 0.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Jeffrey Elliott Cooper sold 2,828 shares of the firm’s stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $171.06, for a total value of $483,757.68. Following the completion of the sale, the chief financial officer now directly owns 74,911 shares of the company’s stock, valued at $12,814,275.66. This represents a 3.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 29,606 shares of company stock worth $5,141,309. 0.48% of the stock is owned by company insiders.

Institutional Investors Weigh In On Guidewire Software

Institutional investors have recently added to or reduced their stakes in the business. Massachusetts Financial Services Co. MA raised its position in shares of Guidewire Software by 24.7% in the third quarter. Massachusetts Financial Services Co. MA now owns 3,426,907 shares of the technology company’s stock valued at $626,918,000 after purchasing an additional 679,558 shares during the period. Linonia Partnership LP raised its holdings in Guidewire Software by 8.4% during the 2nd quarter. Linonia Partnership LP now owns 2,395,601 shares of the technology company’s stock valued at $330,329,000 after acquiring an additional 185,077 shares during the period. Geode Capital Management LLC lifted its position in shares of Guidewire Software by 0.5% during the third quarter. Geode Capital Management LLC now owns 1,330,074 shares of the technology company’s stock worth $243,580,000 after acquiring an additional 6,223 shares in the last quarter. Whale Rock Capital Management LLC boosted its holdings in shares of Guidewire Software by 3.3% in the third quarter. Whale Rock Capital Management LLC now owns 972,743 shares of the technology company’s stock worth $177,954,000 after acquiring an additional 31,512 shares during the period. Finally, Jacobs Levy Equity Management Inc. grew its position in shares of Guidewire Software by 7.6% in the third quarter. Jacobs Levy Equity Management Inc. now owns 764,400 shares of the technology company’s stock valued at $139,839,000 after purchasing an additional 53,967 shares in the last quarter.

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.