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

Shares of Guidewire Software, Inc. (NYSE:GWRE) gapped up prior to trading on Thursday . The stock had previously closed at $183.49, but opened at $194.12. Guidewire Software shares last traded at $196.54, with a volume of 399,251 shares traded.

Analyst Ratings Changes

A number of analysts have recently commented on GWRE shares. JMP Securities reissued a “market outperform” rating and issued a $231.00 price objective on shares of Guidewire Software in a research report on Friday, December 6th. Stifel Nicolaus boosted their target price on shares of Guidewire Software from $200.00 to $220.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. Oppenheimer boosted their target price on shares of Guidewire Software from $220.00 to $230.00 and gave the company an “outperform” rating in a research report on Friday, December 6th. Needham & Company LLC reaffirmed a “hold” rating on shares of Guidewire Software in a research report on Friday, December 6th. Finally, Robert W. Baird increased their target price on shares of Guidewire Software from $204.00 to $220.00 and gave the stock an “outperform” rating in a report on Tuesday, November 19th. One analyst has rated the stock with a sell rating, two have given a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $196.08.

Guidewire Software Stock Performance

The company has a quick ratio of 2.66, a current ratio of 2.66 and a debt-to-equity ratio of 0.53. The business has a fifty day simple moving average of $182.12 and a 200-day simple moving average of $170.82. The firm has a market cap of $16.84 billion, a P/E ratio of 558.93, a P/E/G ratio of 47.19 and a beta of 1.23.

Insider Activity at Guidewire Software

In related news, President John P. Mullen sold 7,165 shares of Guidewire Software stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $171.06, for a total transaction of $1,225,644.90. Following the sale, the president now owns 182,096 shares of the company’s stock, valued at approximately $31,149,341.76. This trade represents a 3.79 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael George Rosenbaum sold 5,932 shares of Guidewire Software stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $171.06, for a total value of $1,014,727.92. Following the sale, the chief executive officer now directly owns 281,730 shares in the company, valued at $48,192,733.80. This trade represents a 2.06 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 29,606 shares of company stock valued at $5,141,309 over the last ninety days. Insiders own 0.48% of the company’s stock.

Institutional Trading of Guidewire Software

A number of large investors have recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA boosted its holdings in Guidewire Software by 24.7% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,426,907 shares of the technology company’s stock valued at $626,918,000 after acquiring an additional 679,558 shares during the period. International Assets Investment Management LLC boosted its holdings in Guidewire Software by 18,001.5% during the 3rd quarter. International Assets Investment Management LLC now owns 258,128 shares of the technology company’s stock valued at $472,220,000 after acquiring an additional 256,702 shares during the period. Linonia Partnership LP boosted its holdings in Guidewire Software by 8.4% during the 2nd quarter. Linonia Partnership LP now owns 2,395,601 shares of the technology company’s stock valued at $330,329,000 after acquiring an additional 185,077 shares during the period. Point72 Asset Management L.P. purchased a new position in Guidewire Software during the 3rd quarter valued at $26,501,000. Finally, Janus Henderson Group PLC boosted its holdings in Guidewire Software by 355.8% during the 3rd quarter. Janus Henderson Group PLC now owns 162,447 shares of the technology company’s stock valued at $29,719,000 after acquiring an additional 126,806 shares during the period.

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.