Guidewire Software (NYSE:GWRE) Hits New 1-Year High at $140.55

Guidewire Software, Inc. (NYSE:GWRE)’s share price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $140.55 and last traded at $140.00, with a volume of 54136 shares. The stock had previously closed at $138.80.

Analyst Ratings Changes

GWRE has been the topic of a number of recent research reports. BTIG Research lifted their price target on shares of Guidewire Software from $135.00 to $140.00 and gave the stock a “buy” rating in a research note on Wednesday, June 5th. Citigroup lifted their price target on Guidewire Software from $109.00 to $122.00 and gave the company a “neutral” rating in a report on Tuesday, June 4th. Royal Bank of Canada lifted their price target on Guidewire Software from $130.00 to $170.00 and gave the company an “outperform” rating in a report on Thursday, June 27th. Robert W. Baird boosted their price objective on Guidewire Software from $140.00 to $152.00 and gave the stock an “outperform” rating in a report on Thursday, June 6th. Finally, Bank of America upped their price target on Guidewire Software from $80.00 to $95.00 and gave the company an “underperform” rating in a research note on Wednesday, June 5th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $133.08.

Guidewire Software Trading Up 0.2 %

The firm has a 50-day simple moving average of $125.13 and a two-hundred day simple moving average of $117.37.

Guidewire Software (NYSE:GWRE) last posted its quarterly earnings data on Tuesday, June 4th. The technology company reported ($0.09) earnings per share for the quarter, topping the consensus estimate of ($0.23) by $0.14. The firm had revenue of $240.68 million for the quarter, compared to analysts’ expectations of $231.46 million. Guidewire Software had a negative return on equity of 1.19% and a negative net margin of 1.11%. On average, sell-side analysts forecast that Guidewire Software, Inc. will post -0.31 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider John P. Mullen sold 1,350 shares of the stock in a transaction on Monday, May 20th. The stock was sold at an average price of $123.16, for a total transaction of $166,266.00. Following the sale, the insider now directly owns 146,697 shares of the company’s stock, valued at approximately $18,067,202.52. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, insider John P. Mullen sold 1,350 shares of the firm’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $123.16, for a total value of $166,266.00. Following the sale, the insider now directly owns 146,697 shares of the company’s stock, valued at $18,067,202.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Michael George Rosenbaum sold 5,582 shares of the firm’s stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $134.54, for a total value of $751,002.28. Following the completion of the sale, the chief executive officer now directly owns 239,793 shares in the company, valued at $32,261,750.22. The disclosure for this sale can be found here. Insiders have sold 13,064 shares of company stock worth $1,710,361 in the last 90 days. Company insiders own 0.38% of the company’s stock.

Institutional Trading of Guidewire Software

Hedge funds have recently made changes to their positions in the company. Gotham Asset Management LLC increased its holdings in Guidewire Software by 253.3% in the third quarter. Gotham Asset Management LLC now owns 12,511 shares of the technology company’s stock worth $1,126,000 after purchasing an additional 8,970 shares in the last quarter. Vanguard Group Inc. grew its holdings in Guidewire Software by 0.5% during the third quarter. Vanguard Group Inc. now owns 8,045,464 shares of the technology company’s stock worth $724,092,000 after buying an additional 38,954 shares in the last quarter. Alberta Investment Management Corp grew its holdings in Guidewire Software by 11.1% during the fourth quarter. Alberta Investment Management Corp now owns 33,678 shares of the technology company’s stock worth $3,672,000 after buying an additional 3,355 shares in the last quarter. Teca Partners LP grew its holdings in Guidewire Software by 31.1% during the fourth quarter. Teca Partners LP now owns 195,599 shares of the technology company’s stock worth $21,328,000 after buying an additional 46,453 shares in the last quarter. Finally, Kapitalo Investimentos Ltda bought a new stake in Guidewire Software during the fourth quarter worth $204,000.

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.