Guidewire Software (NYSE:GWRE) Reaches New 52-Week High at $142.58

Guidewire Software, Inc. (NYSE:GWRE) shares hit a new 52-week high on Monday . The stock traded as high as $142.58 and last traded at $140.68, with a volume of 116244 shares. The stock had previously closed at $138.07.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on GWRE. Royal Bank of Canada raised their price target on shares of Guidewire Software from $130.00 to $170.00 and gave the stock an “outperform” rating in a research note on Thursday, June 27th. Robert W. Baird raised their target price on shares of Guidewire Software from $140.00 to $152.00 and gave the company an “outperform” rating in a research note on Thursday, June 6th. BTIG Research raised their target price on shares of Guidewire Software from $135.00 to $140.00 and gave the company a “buy” rating in a research note on Wednesday, June 5th. JPMorgan Chase & Co. raised their target price on shares of Guidewire Software from $133.00 to $145.00 and gave the company an “overweight” rating in a research note on Wednesday, June 5th. Finally, Wells Fargo & Company raised their target price on shares of Guidewire Software from $140.00 to $150.00 and gave the company an “overweight” rating in a research note on Friday, June 21st. 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 company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $133.08.

Guidewire Software Stock Performance

The firm has a market cap of $11.73 billion, a price-to-earnings ratio of -1,084.84 and a beta of 1.19. The firm has a fifty day simple moving average of $128.27 and a 200-day simple moving average of $118.83.

Guidewire Software (NYSE:GWRE) last posted its earnings results on Tuesday, June 4th. The technology company reported ($0.09) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.14. Guidewire Software had a negative return on equity of 1.19% and a negative net margin of 1.11%. The company had revenue of $240.68 million during the quarter, compared to the consensus estimate of $231.46 million. Analysts expect that Guidewire Software, Inc. will post -0.31 earnings per share for the current fiscal year.

Insider Transactions at Guidewire Software

In other news, CFO Jeffrey Elliott Cooper sold 1,765 shares of Guidewire Software stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $134.20, for a total transaction of $236,863.00. Following the completion of the sale, the chief financial officer now owns 61,714 shares of the company’s stock, valued at $8,282,018.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Michael George Rosenbaum sold 5,582 shares of the firm’s stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $134.54, for a total value of $751,002.28. Following the transaction, the chief executive officer now owns 239,793 shares in the company, valued at $32,261,750.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Jeffrey Elliott Cooper sold 1,765 shares of the firm’s stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $134.20, for a total value of $236,863.00. Following the completion of the transaction, the chief financial officer now owns 61,714 shares in the company, valued at approximately $8,282,018.80. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 11,714 shares of company stock valued at $1,560,038. 0.38% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of GWRE. SG Americas Securities LLC grew its position in Guidewire Software by 453.8% in the second quarter. SG Americas Securities LLC now owns 19,798 shares of the technology company’s stock valued at $2,730,000 after acquiring an additional 16,223 shares during the last quarter. QRG Capital Management Inc. bought a new stake in shares of Guidewire Software during the second quarter worth about $264,000. CHICAGO TRUST Co NA grew its holdings in shares of Guidewire Software by 4.8% during the second quarter. CHICAGO TRUST Co NA now owns 2,845 shares of the technology company’s stock worth $392,000 after purchasing an additional 130 shares during the last quarter. Simplicity Wealth LLC grew its holdings in shares of Guidewire Software by 7.0% during the second quarter. Simplicity Wealth LLC now owns 2,659 shares of the technology company’s stock worth $367,000 after purchasing an additional 173 shares during the last quarter. Finally, CWM LLC grew its holdings in shares of Guidewire Software by 80.1% during the second quarter. CWM LLC now owns 5,231 shares of the technology company’s stock worth $721,000 after purchasing an additional 2,327 shares during the last quarter.

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.