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

Guidewire Software, Inc. (NYSE:GWRE)’s stock price 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. The stock had previously closed at $213.53.

Other equities research analysts have also issued research reports about the stock. Oppenheimer lifted their price objective on shares of Guidewire Software from $220.00 to $230.00 and gave the company an “outperform” rating in a report on Friday, December 6th. Needham & Company LLC reiterated a “hold” rating on shares of Guidewire Software in a report on Friday, December 6th. JPMorgan Chase & Co. lifted their price objective on shares of Guidewire Software from $210.00 to $228.00 and gave the company an “overweight” rating in a report on Friday, December 6th. Robert W. Baird lifted their price objective on shares of Guidewire Software from $204.00 to $220.00 and gave the company an “outperform” rating in a report on Tuesday, November 19th. Finally, DA Davidson reiterated a “buy” rating and set a $210.00 price objective on shares of Guidewire Software in a report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $204.50.

Insider Transactions at Guidewire Software

In other Guidewire Software news, Director Michael C. Keller sold 1,939 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $174.78, for a total transaction of $338,898.42. Following the sale, the director now owns 14,118 shares of the company’s stock, valued at approximately $2,467,544.04. The trade was a 12.08 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Michael George Rosenbaum sold 5,932 shares of the business’s stock in a transaction that occurred on Tuesday, December 17th. The stock was 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 directly owns 281,730 shares in the company, valued at approximately $48,192,733.80. This represents a 2.06 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 37,506 shares of company stock valued at $6,789,679 in the last 90 days. Insiders own 0.48% of the company’s stock.

Institutional Trading of Guidewire Software

Several large investors have recently made changes to their positions in the business. Massachusetts Financial Services Co. MA lifted its stake in shares of Guidewire Software by 29.5% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 4,436,873 shares of the technology company’s stock valued at $747,968,000 after purchasing an additional 1,009,966 shares during the period. Arrowstreet Capital Limited Partnership lifted its stake in shares of Guidewire Software by 79.4% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 946,158 shares of the technology company’s stock valued at $159,503,000 after purchasing an additional 418,642 shares during the period. Artisan Partners Limited Partnership lifted its stake in shares of Guidewire Software by 26.1% in the 4th quarter. Artisan Partners Limited Partnership now owns 1,407,778 shares of the technology company’s stock valued at $237,323,000 after purchasing an additional 291,774 shares during the period. International Assets Investment Management LLC lifted its stake in shares of Guidewire Software by 18,001.5% in the 3rd quarter. International Assets Investment Management LLC now owns 258,128 shares of the technology company’s stock valued at $472,220,000 after purchasing an additional 256,702 shares during the period. Finally, Groupama Asset Managment acquired a new position in shares of Guidewire Software in the 4th quarter valued at $42,145,000.

Guidewire Software Stock Performance

The company has a debt-to-equity ratio of 0.53, a quick ratio of 2.66 and a current ratio of 2.66. The firm’s 50 day moving average is $185.62 and its 200-day moving average is $178.19. The stock has a market capitalization of $18.02 billion, a price-to-earnings ratio of 599.28, a PEG ratio of 56.59 and a beta of 1.25.

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.