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

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 changing hands. The stock had previously closed at $213.53.

Other equities research analysts have also recently issued reports about the stock. Robert W. Baird increased their target price on shares of Guidewire Software from $204.00 to $220.00 and gave the company an “outperform” rating in a research report on Tuesday, November 19th. Stifel Nicolaus increased their target price 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. Oppenheimer increased their target price on shares of Guidewire Software from $220.00 to $230.00 and gave the company an “outperform” rating in a research report on Friday, December 6th. Wells Fargo & Company increased their target price on shares of Guidewire Software from $215.00 to $220.00 and gave the company an “overweight” rating in a research report on Friday, December 6th. Finally, DA Davidson reissued a “buy” rating and issued a $210.00 price objective on shares of Guidewire Software in a report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have given a buy rating to the company. According to MarketBeat, Guidewire Software has an average rating of “Moderate Buy” and a consensus price target of $204.50.

Insiders Place Their Bets

In other 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 transaction of $1,014,727.92. Following the sale, the chief executive officer now owns 281,730 shares of the company’s stock, valued at approximately $48,192,733.80. This represents a 2.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President John P. Mullen sold 1,350 shares of the stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $170.43, for a total transaction of $230,080.50. Following the sale, the president now directly owns 180,746 shares in the company, valued at $30,804,540.78. This represents a 0.74 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 37,506 shares of company stock valued at $6,789,679 over the last 90 days. 0.48% of the stock is owned by company insiders.

Institutional Trading of Guidewire Software

Several hedge funds have recently made changes to their positions in the business. Smartleaf Asset Management LLC lifted its position in shares of Guidewire Software by 10.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 595 shares of the technology company’s stock worth $100,000 after purchasing an additional 56 shares in the last quarter. Hanseatic Management Services Inc. raised its holdings in Guidewire Software by 12.1% in the fourth quarter. Hanseatic Management Services Inc. now owns 539 shares of the technology company’s stock valued at $91,000 after acquiring an additional 58 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in Guidewire Software by 21.1% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 345 shares of the technology company’s stock valued at $63,000 after acquiring an additional 60 shares in the last quarter. Norden Group LLC raised its holdings in Guidewire Software by 5.2% in the fourth quarter. Norden Group LLC now owns 1,232 shares of the technology company’s stock valued at $208,000 after acquiring an additional 61 shares in the last quarter. Finally, Argonautica Private Wealth Management Inc. raised its holdings in Guidewire Software by 1.9% in the fourth quarter. Argonautica Private Wealth Management Inc. now owns 4,040 shares of the technology company’s stock valued at $681,000 after acquiring an additional 75 shares in the last quarter.

Guidewire Software Trading Up 0.6 %

The company’s fifty day moving average is $185.62 and its two-hundred day moving average is $178.19. The stock has a market cap of $18.02 billion, a price-to-earnings ratio of 599.28, a PEG ratio of 56.59 and a beta of 1.25. The company has a quick ratio of 2.66, a current ratio of 2.66 and a debt-to-equity ratio of 0.53.

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.