Guidewire Software (NYSE:GWRE) Share Price Crosses Above 200-Day Moving Average – Here’s Why

Guidewire Software, Inc. (NYSE:GWRE)’s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $166.95 and traded as high as $170.88. Guidewire Software shares last traded at $169.50, with a volume of 909,184 shares trading hands.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Wells Fargo & Company raised their price target on Guidewire Software from $215.00 to $220.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. Robert W. Baird boosted their target price on Guidewire Software from $204.00 to $220.00 and gave the company an “outperform” rating in a report on Tuesday, November 19th. Royal Bank of Canada upped their price target on Guidewire Software from $215.00 to $230.00 and gave the stock an “outperform” rating in a research note on Friday, December 6th. Stifel Nicolaus lifted their price objective on shares of Guidewire Software from $200.00 to $220.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Guidewire Software from $210.00 to $228.00 and gave the stock an “overweight” rating in a research report on Friday, December 6th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, Guidewire Software presently has a consensus rating of “Moderate Buy” and a consensus price target of $193.00.

Guidewire Software Price Performance

The stock has a market cap of $14.39 billion, a price-to-earnings ratio of 478.64, a PEG ratio of 46.15 and a beta of 1.23. The company’s 50 day moving average is $186.24 and its 200 day moving average is $167.20. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.66 and a quick ratio of 1.55.

Insider Activity

In related news, CEO Michael George Rosenbaum sold 5,932 shares of the stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $171.06, for a total value of $1,014,727.92. Following the sale, the chief executive officer now directly owns 281,730 shares of the company’s stock, valued at approximately $48,192,733.80. This represents a 2.06 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 transaction of $266,922.00. Following the transaction, the president now owns 189,261 shares of the company’s stock, valued at approximately $37,420,684.92. The trade was a 0.71 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 23,347 shares of company stock worth $4,057,594. Company insiders own 0.48% of the company’s stock.

Hedge Funds Weigh In On Guidewire Software

Hedge funds have recently bought and sold shares of the stock. Versant Capital Management Inc acquired a new stake in shares of Guidewire Software during the 4th quarter worth about $25,000. Assetmark Inc. boosted its position in 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 purchased a new stake in Guidewire Software in the 3rd quarter worth approximately $33,000. Rothschild Investment LLC acquired a new position in Guidewire Software in the 2nd quarter valued at $31,000. Finally, Brooklyn Investment Group purchased a new position in shares of Guidewire Software during the 3rd quarter worth $42,000.

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.