Guidewire Software (NYSE:GWRE) Shares Up 12.2% – Here’s What Happened

Guidewire Software, Inc. (NYSE:GWRE)’s share price was up 12.2% during trading on Monday . The company traded as high as $170.07 and last traded at $171.3030. Approximately 751,341 shares traded hands during trading, a decline of 52% from the average daily volume of 1,555,904 shares. The stock had previously closed at $152.67.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on GWRE shares. DA Davidson reaffirmed a “buy” rating and set a $246.00 target price on shares of Guidewire Software in a report on Tuesday, March 10th. Royal Bank Of Canada decreased their target price on Guidewire Software from $300.00 to $250.00 and set an “outperform” rating for the company in a report on Friday, March 6th. Oppenheimer decreased their price target on Guidewire Software from $250.00 to $180.00 and set an “outperform” rating for the company in a report on Monday, May 18th. BTIG Research boosted their price target on Guidewire Software from $175.00 to $200.00 and gave the company a “buy” rating in a report on Friday, March 6th. Finally, Zacks Research downgraded Guidewire Software from a “strong-buy” rating to a “hold” rating in a report on Monday, May 25th. Eleven equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $244.46.

Guidewire Software Price Performance

The company has a debt-to-equity ratio of 0.45, a current ratio of 2.93 and a quick ratio of 2.93. The company has a market capitalization of $14.54 billion, a price-to-earnings ratio of 77.86 and a beta of 0.93. The stock has a fifty day simple moving average of $139.88 and a 200-day simple moving average of $162.76.

Guidewire Software (NYSE:GWRE) last issued its quarterly earnings results on Thursday, March 5th. The technology company reported $1.17 EPS for the quarter, topping the consensus estimate of $0.77 by $0.40. The company had revenue of $359.10 million during the quarter, compared to analyst estimates of $342.88 million. Guidewire Software had a net margin of 14.11% and a return on equity of 13.44%. The firm’s revenue was up 24.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.51 EPS. On average, equities research analysts anticipate that Guidewire Software, Inc. will post 1.84 EPS for the current year.

Insider Buying and Selling at Guidewire Software

In other Guidewire Software news, CFO Jeffrey Elliott Cooper sold 4,757 shares of the stock in a transaction on Friday, March 13th. The shares were sold at an average price of $158.72, for a total transaction of $755,031.04. Following the transaction, the chief financial officer directly owned 67,996 shares of the company’s stock, valued at $10,792,325.12. This trade represents a 6.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, President John P. Mullen sold 6,576 shares of the stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $163.86, for a total transaction of $1,077,543.36. Following the transaction, the president directly owned 135,407 shares in the company, valued at approximately $22,187,791.02. The trade was a 4.63% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 32,479 shares of company stock valued at $5,024,174 over the last ninety days. Corporate insiders own 0.46% of the company’s stock.

Hedge Funds Weigh In On Guidewire Software

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GWRE. Measured Wealth Private Client Group LLC acquired a new position in Guidewire Software in the 3rd quarter valued at $29,000. Advisors Asset Management Inc. acquired a new position in Guidewire Software in the 1st quarter valued at $25,000. Cornerstone Planning Group LLC raised its stake in Guidewire Software by 620.0% in the 3rd quarter. Cornerstone Planning Group LLC now owns 144 shares of the technology company’s stock valued at $34,000 after purchasing an additional 124 shares during the last quarter. Hazlett Burt & Watson Inc. acquired a new position in Guidewire Software in the 3rd quarter valued at $35,000. Finally, Flagship Harbor Advisors LLC acquired a new position in Guidewire Software in the 4th quarter valued at $36,000.

Guidewire Software Company Profile

Guidewire Software, Inc develops software products and cloud services for property and casualty (P&C) insurance carriers. Headquartered in San Mateo, California, the company’s offerings are designed to help insurers manage the core functions of their business—policy administration, billing and claims—while supporting digital engagement, analytics and operational modernization.

Guidewire’s core product portfolio is commonly known as the InsuranceSuite, which includes PolicyCenter for policy administration, BillingCenter for billing and receivables, and ClaimCenter for claims management.