Guidewire Software (NYSE:GWRE) Reaches New 1-Year High – Here’s Why

Guidewire Software, Inc. (NYSE:GWRE)’s share price hit a new 52-week high during trading on Wednesday . The company traded as high as $218.01 and last traded at $217.15, with a volume of 940885 shares traded. The stock had previously closed at $212.68.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. DA Davidson restated a “buy” rating and set a $210.00 target price on shares of Guidewire Software in a research note on Wednesday, December 4th. Oppenheimer raised their price objective on shares of Guidewire Software from $220.00 to $230.00 and gave the company an “outperform” rating in a report on Friday, December 6th. Stifel Nicolaus boosted their target price on shares of Guidewire Software from $200.00 to $220.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. The Goldman Sachs Group assumed coverage on Guidewire Software in a report on Thursday, January 23rd. They issued a “buy” rating and a $210.00 target price on the stock. Finally, Wells Fargo & Company upped their price objective on Guidewire Software from $215.00 to $220.00 and gave the stock an “overweight” rating in a research report on Friday, December 6th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $202.00.

Guidewire Software Stock Performance

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 firm has a 50-day simple moving average of $184.05 and a 200 day simple moving average of $175.43. The company has a market cap of $18.14 billion, a price-to-earnings ratio of 603.19, a price-to-earnings-growth ratio of 54.93 and a beta of 1.25.

Insider Activity

In related news, CEO Michael George Rosenbaum sold 1,400 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $208.42, for a total value of $291,788.00. Following the completion of the transaction, the chief executive officer now directly owns 276,130 shares of the company’s stock, valued at $57,551,014.60. This trade represents a 0.50 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, President John P. Mullen sold 1,350 shares of the business’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $170.43, for a total value of $230,080.50. Following the sale, the president now owns 180,746 shares in the company, valued at approximately $30,804,540.78. The trade was a 0.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 36,106 shares of company stock valued at $6,489,127 in the last ninety days. 0.48% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Massachusetts Financial Services Co. MA grew its stake in Guidewire Software by 24.7% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,426,907 shares of the technology company’s stock valued at $626,918,000 after acquiring an additional 679,558 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Guidewire Software by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 1,330,074 shares of the technology company’s stock worth $243,580,000 after purchasing an additional 6,223 shares in the last quarter. Whale Rock Capital Management LLC raised its position in shares of Guidewire Software by 3.3% during the 3rd quarter. Whale Rock Capital Management LLC now owns 972,743 shares of the technology company’s stock worth $177,954,000 after purchasing an additional 31,512 shares during the last quarter. Jacobs Levy Equity Management Inc. lifted its stake in Guidewire Software by 7.6% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 764,400 shares of the technology company’s stock valued at $139,839,000 after buying an additional 53,967 shares in the last quarter. Finally, International Assets Investment Management LLC grew its holdings in Guidewire Software by 18,001.5% during the 3rd quarter. International Assets Investment Management LLC now owns 258,128 shares of the technology company’s stock valued at $472,220,000 after buying an additional 256,702 shares during the last quarter.

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.