Guidewire Software, Inc. (NYSE:GWRE – Get Free Report) shares reached a new 52-week high during trading on Thursday . The company traded as high as $217.56 and last traded at $207.53, with a volume of 764 shares changing hands. The stock had previously closed at $207.34.
Wall Street Analysts Forecast Growth
A number of research analysts have commented on GWRE shares. Royal Bank of Canada upped their target price on shares of Guidewire Software from $215.00 to $230.00 and gave the company an “outperform” rating in a research report on Friday, December 6th. Robert W. Baird increased their price objective on shares of Guidewire Software from $204.00 to $220.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 19th. The Goldman Sachs Group began coverage on Guidewire Software in a report on Thursday, January 23rd. They issued a “buy” rating and a $210.00 price objective on the stock. Wells Fargo & Company raised their target price on Guidewire Software from $215.00 to $220.00 and gave the company an “overweight” rating in a report on Friday, December 6th. Finally, DA Davidson reiterated a “buy” rating and set a $210.00 price target on shares of Guidewire Software in a research note on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $196.08.
Read Our Latest Stock Report on Guidewire Software
Guidewire Software Price Performance
Insider Buying and Selling at Guidewire Software
In related news, President John P. Mullen sold 1,350 shares of the stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $197.72, for a total transaction of $266,922.00. Following the completion of the sale, the president now owns 189,261 shares in the company, valued at $37,420,684.92. This represents a 0.71 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Jeffrey Elliott Cooper sold 2,828 shares of the company’s stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $171.06, for a total value of $483,757.68. Following the sale, the chief financial officer now directly owns 74,911 shares of the company’s stock, valued at approximately $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. Insiders have sold 31,706 shares of company stock worth $5,570,969 over the last three months. Insiders own 0.48% of the company’s stock.
Hedge Funds Weigh In On Guidewire Software
Several institutional investors and hedge funds have recently made changes to their positions in the business. The Manufacturers Life Insurance Company lifted its stake in Guidewire Software by 17.1% during the second quarter. The Manufacturers Life Insurance Company now owns 23,660 shares of the technology company’s stock worth $3,262,000 after purchasing an additional 3,462 shares during the last quarter. Algert Global LLC bought a new position in shares of Guidewire Software in the 2nd quarter worth about $1,099,000. Creative Planning boosted its holdings in shares of Guidewire Software by 26.1% in the 2nd quarter. Creative Planning now owns 13,211 shares of the technology company’s stock valued at $1,822,000 after buying an additional 2,731 shares during the period. Cetera Investment Advisers grew its position in shares of Guidewire Software by 2.1% during the 2nd quarter. Cetera Investment Advisers now owns 18,489 shares of the technology company’s stock valued at $2,549,000 after buying an additional 372 shares during the last quarter. Finally, Sanctuary Advisors LLC bought a new stake in shares of Guidewire Software during the 2nd quarter valued at about $429,000.
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.
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