Guidewire Software (GWRE) Hits New 12-Month High Following Analyst Upgrade

Shares of Guidewire Software Inc (NYSE:GWRE) hit a new 52-week high during trading on Thursday after Piper Jaffray Companies raised their price target on the stock from $90.00 to $100.00. Piper Jaffray Companies currently has a neutral rating on the stock. Guidewire Software traded as high as $109.06 and last traded at $108.66, with a volume of 570919 shares traded. The stock had previously closed at $103.36.

GWRE has been the subject of several other research reports. Zacks Investment Research cut Guidewire Software from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 7th. Goldman Sachs Group reaffirmed a “buy” rating on shares of Guidewire Software in a research report on Friday, February 1st. Six research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Guidewire Software has a consensus rating of “Buy” and a consensus price target of $107.40.

In related news, CEO Marcus Ryu sold 14,033 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $92.21, for a total transaction of $1,293,982.93. Following the completion of the sale, the chief executive officer now directly owns 15,354 shares in the company, valued at $1,415,792.34. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Curtis Smith sold 2,105 shares of the stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $94.96, for a total value of $199,890.80. Following the sale, the chief financial officer now owns 4,179 shares of the company’s stock, valued at $396,837.84. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 70,350 shares of company stock valued at $6,902,923. 0.69% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc raised its holdings in Guidewire Software by 3.2% during the third quarter. Vanguard Group Inc now owns 7,021,764 shares of the technology company’s stock valued at $709,268,000 after buying an additional 215,874 shares in the last quarter. Principal Financial Group Inc. raised its holdings in Guidewire Software by 11.1% during the first quarter. Principal Financial Group Inc. now owns 1,942,670 shares of the technology company’s stock valued at $188,749,000 after buying an additional 194,763 shares in the last quarter. Janus Henderson Group PLC raised its holdings in Guidewire Software by 2.5% during the first quarter. Janus Henderson Group PLC now owns 1,514,044 shares of the technology company’s stock valued at $147,105,000 after buying an additional 36,434 shares in the last quarter. Blair William & Co. IL raised its holdings in Guidewire Software by 6.1% during the first quarter. Blair William & Co. IL now owns 1,455,222 shares of the technology company’s stock valued at $141,389,000 after buying an additional 83,182 shares in the last quarter. Finally, Meritage Group LP bought a new position in Guidewire Software during the first quarter valued at about $109,020,000.

The company has a quick ratio of 7.45, a current ratio of 7.45 and a debt-to-equity ratio of 0.21. The firm has a market cap of $8.51 billion, a price-to-earnings ratio of 1,180.11, a PEG ratio of 30.82 and a beta of 1.28.

Guidewire Software (NYSE:GWRE) last posted its quarterly earnings data on Wednesday, March 6th. The technology company reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.15. The business had revenue of $169.30 million for the quarter, compared to analyst estimates of $159.73 million. Guidewire Software had a return on equity of 3.59% and a net margin of 5.56%. The firm’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.33 earnings per share. On average, equities analysts forecast that Guidewire Software Inc will post 0.42 EPS for the current fiscal year.

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About Guidewire Software (NYSE:GWRE)

Guidewire Software, Inc provides software products for property and casualty insurers worldwide. The company offers Guidewire InsuranceSuite comprising Guidewire PolicyCenter, BillingCenter, and ClaimCenter applications. It also provides Guidewire InsuranceNow, a cloud-based platform, which offers policy, billing, and claims management functionality to insurers that prefer to subscribe to a cloud-based solution.

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