Guidewire Software (NYSE:GWRE) Shares Climb 7.4% – Here’s Why

Guidewire Software, Inc. (NYSE:GWRE) shares rose 7.4% on Thursday. The stock traded as high as $176.97 and last traded at $177.1410. Approximately 461,186 shares changed hands during mid-day trading, a decline of 70% from the average daily volume of 1,549,531 shares. The stock had previously closed at $164.92.

Analyst Ratings Changes

Several brokerages recently commented on GWRE. Robert W. Baird upped their price target on shares of Guidewire Software from $202.00 to $235.00 and gave the company an “outperform” rating in a report on Monday, August 31st. Citizens Jmp reissued a “market outperform” rating and issued a $220.00 price objective on shares of Guidewire Software in a research note on Friday, September 4th. BTIG Research boosted their target price on Guidewire Software from $175.00 to $230.00 and gave the company a “buy” rating in a research report on Wednesday, September 2nd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Guidewire Software in a research note on Monday, August 31st. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $215.00 target price on shares of Guidewire Software in a research note on Friday, September 4th. Twelve investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $216.23.

Guidewire Software Stock Up 6.6%

The company has a debt-to-equity ratio of 0.57, a current ratio of 1.79 and a quick ratio of 1.79. The stock has a market cap of $14.64 billion, a PE ratio of 107.74 and a beta of 1.02. The business has a fifty day moving average of $166.68 and a 200-day moving average of $147.27.

Guidewire Software (NYSE:GWRE) last released its quarterly earnings data on Thursday, September 3rd. The technology company reported $0.99 EPS for the quarter, topping the consensus estimate of $0.93 by $0.06. Guidewire Software had a return on equity of 12.66% and a net margin of 9.44%. The company had revenue of $411.09 million for the quarter, compared to the consensus estimate of $402.61 million. During the same period last year, the business posted $0.84 EPS. Guidewire Software’s quarterly revenue was up 15.3% on a year-over-year basis. Equities research analysts anticipate that Guidewire Software, Inc. will post 2.45 earnings per share for the current year.

Insider Buying and Selling at Guidewire Software

In other Guidewire Software news, CFO Jeffrey Cooper sold 9,941 shares of the firm’s stock in a transaction dated Friday, September 18th. The shares were sold at an average price of $142.61, for a total transaction of $1,417,686.01. Following the transaction, the chief financial officer owned 85,420 shares of the company’s stock, valued at approximately $12,181,746.20. This trade represents a 10.42% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Michael Rosenbaum sold 1,200 shares of the business’s stock in a transaction dated Monday, October 12th. The shares were sold at an average price of $168.97, for a total transaction of $202,764.00. Following the completion of the sale, the chief executive officer owned 276,066 shares of the company’s stock, valued at approximately $46,646,872.02. This represents a 0.43% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 200,735 shares of company stock valued at $30,179,843 in the last ninety days. 0.46% of the stock is owned by insiders.

Hedge Funds Weigh In On Guidewire Software

Several institutional investors have recently bought and sold shares of the business. Fort Washington Investment Advisors Inc. OH purchased a new stake in Guidewire Software during the third quarter worth $333,000. Wedmont Private Capital boosted its position in Guidewire Software by 83.2% during the 3rd quarter. Wedmont Private Capital now owns 3,248 shares of the technology company’s stock valued at $463,000 after acquiring an additional 1,475 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of Guidewire Software by 49.0% in the 3rd quarter. GAMMA Investing LLC now owns 4,129 shares of the technology company’s stock valued at $589,000 after acquiring an additional 1,357 shares during the period. Farther Finance Advisors LLC increased its holdings in shares of Guidewire Software by 70.4% in the 3rd quarter. Farther Finance Advisors LLC now owns 4,210 shares of the technology company’s stock valued at $600,000 after acquiring an additional 1,739 shares during the period. Finally, Elevation Wealth Partners LLC increased its holdings in shares of Guidewire Software by 63.1% in the 3rd quarter. Elevation Wealth Partners LLC now owns 747 shares of the technology company’s stock valued at $107,000 after acquiring an additional 289 shares during the period.

Guidewire Software Company Profile

Guidewire Software, Inc develops software for the property and casualty (P&C) insurance industry. Its platform is designed to help insurers manage core operations, modernize legacy systems, and support digital interactions with policyholders, agents, brokers, and other stakeholders.

The company’s principal offerings include Guidewire InsuranceSuite, a cloud-based platform with applications such as PolicyCenter for policy administration, BillingCenter for billing and payments, and ClaimCenter for claims management.