Guidewire Software (NYSE:GWRE) Reaches New 1-Year High – Time to Buy?

Guidewire Software, Inc. (NYSE:GWRE) shares hit 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 changing hands. The stock had previously closed at $197.23.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Robert W. Baird raised their price objective on shares of Guidewire Software from $204.00 to $220.00 and gave the stock an “outperform” rating in a report on Tuesday. Oppenheimer upped their price target on Guidewire Software from $200.00 to $220.00 and gave the stock 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 report on Tuesday. DA Davidson reiterated a “buy” rating and issued a $168.00 price target on shares of Guidewire Software in a research note on Friday, September 6th. Finally, Citigroup lifted their target price on Guidewire Software from $123.00 to $165.00 and gave the company a “neutral” rating in a research report on Monday, September 9th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $183.69.

Guidewire Software Trading Up 1.5 %

The stock has a fifty day moving average price of $185.74 and a two-hundred day moving average price of $154.29.

Guidewire Software (NYSE:GWRE) last issued its quarterly earnings results on Thursday, September 5th. The technology company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.08. The business had revenue of $291.50 million during the quarter, compared to analysts’ expectations of $283.84 million. Guidewire Software had a negative return on equity of 1.29% and a negative net margin of 0.62%. The firm’s revenue for the quarter was up 8.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.30 earnings per share. Research analysts forecast that Guidewire Software, Inc. will post 0.53 EPS for the current fiscal year.

Insider Transactions at Guidewire Software

In other news, insider James Winston King sold 4,514 shares of the stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $172.66, for a total value of $779,387.24. Following the completion of the transaction, the insider now owns 48,237 shares of the company’s stock, valued at approximately $8,328,600.42. This represents a 8.56 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael George Rosenbaum sold 23,379 shares of Guidewire Software stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $172.16, for a total transaction of $4,024,928.64. Following the sale, the chief executive officer now directly owns 287,662 shares in the company, valued at $49,523,889.92. This trade represents a 7.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 52,601 shares of company stock valued at $9,116,179. Company insiders own 0.48% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Rothschild Investment LLC acquired a new position in Guidewire Software in the 2nd quarter valued at approximately $31,000. Assetmark Inc. raised its position in shares of Guidewire Software by 537.0% during the third quarter. Assetmark Inc. now owns 172 shares of the technology company’s stock worth $31,000 after acquiring an additional 145 shares during the last quarter. Point72 Hong Kong Ltd acquired a new position in shares of Guidewire Software in the third quarter worth approximately $33,000. Lynx Investment Advisory bought a new stake in Guidewire Software in the second quarter valued at approximately $41,000. Finally, DT Investment Partners LLC acquired a new stake in Guidewire Software during the 2nd quarter valued at approximately $41,000.

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.