Guidewire Software (NYSE:GWRE) Reaches New 12-Month High on Analyst Upgrade

Shares of Guidewire Software, Inc. (NYSE:GWRE) reached a new 52-week high during mid-day trading on Thursday after Royal Bank of Canada raised their price target on the stock from $130.00 to $170.00. Royal Bank of Canada currently has an outperform rating on the stock. Guidewire Software traded as high as $138.21 and last traded at $137.93, with a volume of 309807 shares. The stock had previously closed at $134.86.

GWRE has been the topic of a number of other reports. BTIG Research boosted their target price on Guidewire Software from $135.00 to $140.00 and gave the stock a “buy” rating in a research report on Wednesday, June 5th. Wells Fargo & Company boosted their target price on Guidewire Software from $140.00 to $150.00 and gave the stock an “overweight” rating in a research report on Friday, June 21st. Robert W. Baird boosted their target price on Guidewire Software from $140.00 to $152.00 and gave the stock an “outperform” rating in a research report on Thursday, June 6th. DA Davidson reissued a “buy” rating and set a $126.00 price target on shares of Guidewire Software in a research report on Tuesday, March 5th. Finally, Oppenheimer upped their price target on Guidewire Software from $130.00 to $140.00 and gave the company an “outperform” rating in a research report on Wednesday, June 5th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $133.08.

Insider Activity at Guidewire Software

In other Guidewire Software news, insider John P. Mullen sold 1,350 shares of the business’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $111.35, for a total transaction of $150,322.50. Following the transaction, the insider now owns 148,047 shares of the company’s stock, valued at approximately $16,485,033.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Jeffrey Elliott Cooper sold 1,765 shares of the business’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $134.20, for a total transaction of $236,863.00. Following the transaction, the chief financial officer now directly owns 61,714 shares of the company’s stock, valued at approximately $8,282,018.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider John P. Mullen sold 1,350 shares of the business’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $111.35, for a total value of $150,322.50. Following the transaction, the insider now directly owns 148,047 shares in the company, valued at $16,485,033.45. The disclosure for this sale can be found here. In the last quarter, insiders have sold 13,064 shares of company stock valued at $1,710,361. 0.38% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in GWRE. Linonia Partnership LP acquired a new position in Guidewire Software in the 4th quarter worth about $189,965,000. Massachusetts Financial Services Co. MA purchased a new stake in shares of Guidewire Software during the fourth quarter valued at approximately $105,311,000. Norges Bank purchased a new stake in shares of Guidewire Software during the fourth quarter valued at approximately $97,829,000. Jacobs Levy Equity Management Inc. increased its position in Guidewire Software by 628.6% in the third quarter. Jacobs Levy Equity Management Inc. now owns 313,151 shares of the technology company’s stock worth $28,184,000 after buying an additional 270,169 shares during the last quarter. Finally, Whale Rock Capital Management LLC increased its position in Guidewire Software by 23.4% in the first quarter. Whale Rock Capital Management LLC now owns 1,270,870 shares of the technology company’s stock worth $148,323,000 after buying an additional 240,622 shares during the last quarter.

Guidewire Software Stock Up 2.3 %

The stock has a 50-day simple moving average of $121.79 and a 200-day simple moving average of $115.80. The firm has a market capitalization of $11.40 billion, a PE ratio of -1,052.15 and a beta of 1.14.

Guidewire Software Company Profile

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.