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

Guidewire Software, Inc. (NYSE:GWRE - Get Free Report) hit a new 52-week high during trading on Thursday after Citigroup raised their price target on the stock from $199.00 to $247.00. Citigroup currently has a neutral rating on the stock. Guidewire Software traded as high as $263.20 and last traded at $253.19, with a volume of 4551804 shares traded. The stock had previously closed at $218.18.

Other analysts also recently issued research reports about the company. Bank of America boosted their price objective on Guidewire Software from $135.00 to $160.00 and gave the company an "underperform" rating in a research report on Wednesday. DA Davidson reiterated a "neutral" rating and issued a $226.00 price objective on shares of Guidewire Software in a research report on Wednesday. The Goldman Sachs Group boosted their price objective on Guidewire Software from $235.00 to $270.00 and gave the company a "buy" rating in a research report on Wednesday. JPMorgan Chase & Co. boosted their price objective on Guidewire Software from $231.00 to $271.00 and gave the company an "overweight" rating in a research report on Wednesday. Finally, Royal Bank of Canada boosted their price objective on Guidewire Software from $230.00 to $290.00 and gave the company an "outperform" rating in a research report on Wednesday. One research analyst has rated the stock with a sell rating, three have issued a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $247.00.

Insider Buying and Selling

In other news, insider James Winston King sold 1,051 shares of the stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $189.41, for a total value of $199,069.91. Following the sale, the insider now directly owns 44,613 shares of the company's stock, valued at approximately $8,450,148.33. This represents a 2.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Michael George Rosenbaum sold 1,400 shares of the stock in a transaction on Monday, March 10th. The stock was sold at an average price of $170.04, for a total value of $238,056.00. Following the completion of the sale, the chief executive officer now directly owns 269,130 shares in the company, valued at approximately $45,762,865.20. This represents a 0.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 28,671 shares of company stock valued at $5,471,104 over the last ninety days. Company insiders own 0.48% of the company's stock.

Institutional Investors Weigh In On Guidewire Software

Several institutional investors have recently modified their holdings of the business. First Hawaiian Bank purchased a new stake in shares of Guidewire Software during the first quarter valued at $1,546,000. Strs Ohio purchased a new stake in shares of Guidewire Software during the first quarter valued at $1,336,000. Advisors Capital Management LLC boosted its position in shares of Guidewire Software by 3.8% during the first quarter. Advisors Capital Management LLC now owns 43,253 shares of the technology company's stock valued at $8,104,000 after buying an additional 1,599 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Guidewire Software by 8.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 301,940 shares of the technology company's stock valued at $56,571,000 after acquiring an additional 24,287 shares during the period. Finally, Vancity Investment Management Ltd purchased a new position in Guidewire Software in the first quarter worth about $1,066,000.

Guidewire Software Price Performance

The firm has a market capitalization of $21.47 billion, a PE ratio of 710.92, a PEG ratio of 37.21 and a beta of 1.18. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.66 and a quick ratio of 2.66. The firm has a 50-day simple moving average of $201.77 and a 200-day simple moving average of $194.70.

Guidewire Software (NYSE:GWRE - Get Free Report) last announced its earnings results on Tuesday, June 3rd. The technology company reported $0.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.41. The business had revenue of $293.51 million for the quarter, compared to analysts' expectations of $286.40 million. Guidewire Software had a return on equity of 2.38% and a net margin of 2.91%. The business's revenue for the quarter was up 22.0% on a year-over-year basis. During the same period last year, the firm posted $0.26 earnings per share. As a group, equities analysts forecast that Guidewire Software, Inc. will post 0.52 earnings per share for the current year.

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.