Guidewire Software (NYSE:GWRE) Hits New 12-Month High – What’s Next?

Guidewire Software, Inc. (NYSE:GWRE)’s share price 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. The stock had previously closed at $197.23.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on GWRE shares. DA Davidson reiterated a “buy” rating and issued a $168.00 target price on shares of Guidewire Software in a report on Friday, September 6th. Wells Fargo & Company increased their target price on Guidewire Software from $205.00 to $215.00 and gave the company an “overweight” rating in a research note on Tuesday. Needham & Company LLC reaffirmed a “hold” rating on shares of Guidewire Software in a research report on Friday, October 11th. Citigroup increased their price objective on Guidewire Software from $123.00 to $165.00 and gave the company a “neutral” rating in a research report on Monday, September 9th. Finally, BTIG Research boosted their target price on shares of Guidewire Software from $140.00 to $165.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $183.69.

Guidewire Software Stock Up 1.5 %

The company’s fifty day moving average price is $185.74 and its two-hundred day moving average price is $154.29.

Guidewire Software (NYSE:GWRE) last released its quarterly earnings results on Thursday, September 5th. The technology company reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $0.08. Guidewire Software had a negative return on equity of 1.29% and a negative net margin of 0.62%. The business had revenue of $291.50 million for the quarter, compared to analyst estimates of $283.84 million. During the same period in the prior year, the company earned $0.30 EPS. Guidewire Software’s revenue for the quarter was up 8.0% on a year-over-year basis. On average, research analysts expect that Guidewire Software, Inc. will post 0.53 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Jeffrey Elliott Cooper sold 4,956 shares of the firm’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $172.70, for a total value of $855,901.20. Following the transaction, the chief financial officer now owns 78,411 shares of the company’s stock, valued at approximately $13,541,579.70. This trade represents a 5.94 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, President John P. Mullen sold 1,350 shares of Guidewire Software stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $187.68, for a total transaction of $253,368.00. Following the sale, the president now owns 190,611 shares of the company’s stock, valued at approximately $35,773,872.48. This represents a 0.70 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 52,601 shares of company stock valued at $9,116,179 in the last 90 days. 0.48% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Guidewire Software

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GWRE. Acadian Asset Management LLC raised its position in shares of Guidewire Software by 91.3% in the 1st quarter. Acadian Asset Management LLC now owns 7,144 shares of the technology company’s stock valued at $833,000 after acquiring an additional 3,409 shares during the period. O Shaughnessy Asset Management LLC raised its holdings in Guidewire Software by 7.1% in the first quarter. O Shaughnessy Asset Management LLC now owns 4,096 shares of the technology company’s stock worth $478,000 after purchasing an additional 271 shares during the period. CANADA LIFE ASSURANCE Co boosted its position in shares of Guidewire Software by 2.3% during the first quarter. CANADA LIFE ASSURANCE Co now owns 27,453 shares of the technology company’s stock worth $3,208,000 after purchasing an additional 619 shares in the last quarter. Natixis acquired a new position in shares of Guidewire Software in the 1st quarter valued at $166,000. Finally, Magnetar Financial LLC bought a new stake in shares of Guidewire Software in the 1st quarter valued at $588,000.

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.