Guidewire Software (NYSE:GWRE) Hits New 52-Week High – Should You Buy?

Guidewire Software, Inc. (NYSE:GWRE) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $197.81 and last traded at $197.48, with a volume of 12826 shares. The stock had previously closed at $195.55.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Robert W. Baird lifted their price objective on Guidewire Software from $175.00 to $204.00 and gave the company an “outperform” rating in a report on Tuesday, October 8th. DA Davidson reiterated a “buy” rating and issued a $168.00 price target on shares of Guidewire Software in a report on Friday, September 6th. Citigroup boosted their price objective on shares of Guidewire Software from $123.00 to $165.00 and gave the stock a “neutral” rating in a report on Monday, September 9th. Needham & Company LLC restated a “hold” rating on shares of Guidewire Software in a research report on Friday, October 11th. Finally, Wells Fargo & Company lifted their price target on shares of Guidewire Software from $200.00 to $205.00 and gave the company an “overweight” rating in a research report on Friday, October 11th. One analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $178.62.

Guidewire Software Trading Up 1.2 %

The company’s 50 day simple moving average is $180.83 and its 200-day simple moving average is $150.76.

Guidewire Software (NYSE:GWRE) last announced its earnings results on Thursday, September 5th. The technology company reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.54 by $0.08. The firm had revenue of $291.50 million for the quarter, compared to analyst estimates of $283.84 million. Guidewire Software had a negative net margin of 0.62% and a negative return on equity of 1.29%. Guidewire Software’s revenue was up 8.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.30 earnings per share. Sell-side analysts predict that Guidewire Software, Inc. will post 0.53 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Guidewire Software news, insider James Winston King sold 4,514 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $172.66, for a total transaction of $779,387.24. Following the completion of the sale, the insider now directly owns 48,237 shares in the company, valued at $8,328,600.42. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider James Winston King sold 4,514 shares of the firm’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $172.66, for a total value of $779,387.24. Following the sale, the insider now owns 48,237 shares of the company’s stock, valued at approximately $8,328,600.42. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider John P. Mullen sold 1,350 shares of the company’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $149.03, for a total value of $201,190.50. Following the transaction, the insider now owns 137,821 shares of the company’s stock, valued at approximately $20,539,463.63. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 52,601 shares of company stock worth $9,050,448 over the last three months. 0.48% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Brooklyn Investment Group bought a new stake in shares of Guidewire Software during the third quarter valued at approximately $42,000. The Manufacturers Life Insurance Company grew its holdings in Guidewire Software by 2.4% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 24,239 shares of the technology company’s stock worth $4,434,000 after buying an additional 579 shares in the last quarter. Bank of Montreal Can increased its position in Guidewire Software by 48.7% in the 3rd quarter. Bank of Montreal Can now owns 45,703 shares of the technology company’s stock valued at $8,134,000 after acquiring an additional 14,970 shares during the period. DRW Securities LLC bought a new stake in Guidewire Software during the 3rd quarter valued at $892,000. Finally, Harvest Fund Management Co. Ltd boosted its position in Guidewire Software by 31.0% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 3,017 shares of the technology company’s stock worth $552,000 after acquiring an additional 714 shares during the period.

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.