Guidewire Software (NYSE:GWRE) Hits New 52-Week High Following Analyst Upgrade

Shares of Guidewire Software, Inc. (NYSE:GWRE) hit a new 52-week high during trading on Tuesday after The Goldman Sachs Group raised their price target on the stock from $210.00 to $240.00. The Goldman Sachs Group currently has a buy rating on the stock. Guidewire Software traded as high as $219.59 and last traded at $218.04, with a volume of 883192 shares. The stock had previously closed at $213.53.

Several other equities analysts have also commented on GWRE. JMP Securities reissued a “market outperform” rating and set a $231.00 price objective on shares of Guidewire Software in a research report on Friday, December 6th. JPMorgan Chase & Co. raised their price objective on Guidewire Software from $210.00 to $228.00 and gave the company an “overweight” rating in a research report on Friday, December 6th. Needham & Company LLC reissued a “hold” rating on shares of Guidewire Software in a research report on Friday, December 6th. DA Davidson reissued a “buy” rating and set a $210.00 price objective on shares of Guidewire Software in a research report on Wednesday, December 4th. Finally, Oppenheimer raised their price objective on Guidewire Software from $220.00 to $230.00 and gave the company an “outperform” rating in a research report on Friday, December 6th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $204.50.

Insider Activity

In related news, President John P. Mullen sold 1,350 shares of Guidewire Software stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $197.72, for a total value of $266,922.00. Following the completion of the sale, the president now directly owns 189,261 shares in the company, valued at approximately $37,420,684.92. This trade represents a 0.71 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider James Winston King sold 270 shares of Guidewire Software stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $174.78, for a total value of $47,190.60. Following the completion of the sale, the insider now owns 45,664 shares of the company’s stock, valued at $7,981,153.92. The trade was a 0.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 37,506 shares of company stock worth $6,789,679 over the last three months. 0.48% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Guidewire Software

A number of large investors have recently made changes to their positions in the company. Envestnet Portfolio Solutions Inc. grew its stake in shares of Guidewire Software by 7.5% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 7,071 shares of the technology company’s stock valued at $1,192,000 after purchasing an additional 495 shares during the period. Natixis Advisors LLC grew its stake in shares of Guidewire Software by 13.3% during the 4th quarter. Natixis Advisors LLC now owns 59,351 shares of the technology company’s stock valued at $10,005,000 after purchasing an additional 6,970 shares during the period. Catalyst Funds Management Pty Ltd bought a new stake in shares of Guidewire Software during the 4th quarter valued at about $1,239,000. Commonwealth Equity Services LLC purchased a new position in shares of Guidewire Software during the 4th quarter valued at about $223,000. Finally, Thompson Siegel & Walmsley LLC purchased a new position in shares of Guidewire Software during the 4th quarter valued at about $3,877,000.

Guidewire Software Trading Up 2.1 %

The company has a debt-to-equity ratio of 0.53, a quick ratio of 2.66 and a current ratio of 2.66. The stock has a market capitalization of $18.21 billion, a PE ratio of 605.68, a PEG ratio of 56.59 and a beta of 1.25. The stock has a 50-day moving average price of $185.24 and a two-hundred day moving average price of $177.46.

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.