Guidewire Software (NYSE:GWRE) Hits New 52-Week High at $124.86

Guidewire Software, Inc. (NYSE:GWRE)’s stock price hit a new 52-week high during trading on Monday . The company traded as high as $124.86 and last traded at $122.67, with a volume of 4352 shares changing hands. The stock had previously closed at $122.71.

A number of equities research analysts recently commented on GWRE shares. DA Davidson raised their price objective on shares of Guidewire Software from $135.00 to $144.00 and gave the company a “buy” rating in a research report on Thursday, September 3rd. Needham & Company LLC dropped their price objective on shares of Guidewire Software from $145.00 to $130.00 and set a “buy” rating for the company in a research note on Wednesday, October 14th. JPMorgan Chase & Co. raised their price objective on shares of Guidewire Software from $126.00 to $140.00 and gave the stock an “overweight” rating in a research note on Thursday, September 3rd. Bank of America raised their price objective on shares of Guidewire Software from $125.00 to $135.00 and gave the stock a “neutral” rating in a research note on Thursday, September 3rd. Finally, Zacks Investment Research cut shares of Guidewire Software from a “hold” rating to a “sell” rating and set a $117.00 price objective for the company. in a research note on Thursday, September 10th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $124.09.

The business’s 50 day moving average price is $107.64 and its two-hundred day moving average price is $108.48. The company has a market capitalization of $10.28 billion, a price-to-earnings ratio of -371.85 and a beta of 1.23. The company has a debt-to-equity ratio of 0.20, a quick ratio of 5.96 and a current ratio of 5.96.

Guidewire Software (NYSE:GWRE) last released its earnings results on Wednesday, September 2nd. The technology company reported $0.83 EPS for the quarter, beating the consensus estimate of $0.45 by $0.38. Guidewire Software had a negative net margin of 3.66% and a positive return on equity of 1.07%. The business had revenue of $243.67 million during the quarter, compared to analyst estimates of $208.91 million. During the same period in the prior year, the business earned $0.56 earnings per share. The business’s quarterly revenue was up 17.2% on a year-over-year basis. On average, sell-side analysts expect that Guidewire Software, Inc. will post -1.12 earnings per share for the current year.

In related news, COO Priscilla Hung sold 3,819 shares of the business’s stock in a transaction on Thursday, September 17th. The shares were sold at an average price of $105.29, for a total transaction of $402,102.51. Following the transaction, the chief operating officer now directly owns 13,143 shares in the company, valued at $1,383,826.47. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Marcus Ryu sold 23,391 shares of the business’s stock in a transaction on Thursday, September 17th. The stock was sold at an average price of $105.29, for a total transaction of $2,462,838.39. Following the transaction, the director now owns 50,986 shares in the company, valued at $5,368,315.94. The disclosure for this sale can be found here. Insiders sold 57,159 shares of company stock worth $6,011,211 over the last quarter. 0.37% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently modified their holdings of the stock. Cullen Frost Bankers Inc. acquired a new position in shares of Guidewire Software in the second quarter valued at $26,000. SRS Capital Advisors Inc. increased its position in shares of Guidewire Software by 678.1% during the 2nd quarter. SRS Capital Advisors Inc. now owns 249 shares of the technology company’s stock valued at $28,000 after purchasing an additional 217 shares during the last quarter. SSI Investment Management LLC purchased a new stake in shares of Guidewire Software during the 2nd quarter valued at $29,000. Prospera Financial Services Inc purchased a new stake in shares of Guidewire Software during the 3rd quarter valued at $42,000. Finally, FinTrust Capital Advisors LLC increased its position in shares of Guidewire Software by 1,507.4% during the 2nd quarter. FinTrust Capital Advisors LLC now owns 434 shares of the technology company’s stock valued at $48,000 after purchasing an additional 407 shares during the last quarter.

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.

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