Guidewire Software (NYSE:GWRE) Reaches New 52-Week High – Still a Buy?

Guidewire Software, Inc. (NYSE:GWRE)’s stock price reached a new 52-week high on Wednesday . The company traded as high as $218.01 and last traded at $217.15, with a volume of 940885 shares. The stock had previously closed at $212.68.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on GWRE. The Goldman Sachs Group initiated coverage on shares of Guidewire Software in a research report on Thursday, January 23rd. They issued a “buy” rating and a $210.00 target price on the stock. Royal Bank of Canada lifted their price objective on Guidewire Software from $215.00 to $230.00 and gave the stock an “outperform” rating in a report on Friday, December 6th. Needham & Company LLC reissued a “hold” rating on shares of Guidewire Software in a report on Friday, December 6th. Stifel Nicolaus lifted their price target on Guidewire Software from $200.00 to $220.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. Finally, JPMorgan Chase & Co. boosted their price target on Guidewire Software from $210.00 to $228.00 and gave the stock an “overweight” rating in a research report on Friday, December 6th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $202.00.

Guidewire Software Stock Performance

The company has a debt-to-equity ratio of 0.53, a quick ratio of 2.66 and a current ratio of 2.66. The firm’s 50-day moving average price is $184.05 and its two-hundred day moving average price is $175.43. The stock has a market cap of $18.14 billion, a price-to-earnings ratio of 603.19, a PEG ratio of 54.93 and a beta of 1.25.

Insider Buying and Selling at Guidewire Software

In other Guidewire Software news, CEO Michael George Rosenbaum sold 5,932 shares of the company’s stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $171.06, for a total transaction of $1,014,727.92. Following the transaction, the chief executive officer now directly owns 281,730 shares in the company, valued at $48,192,733.80. This represents a 2.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, President John P. Mullen sold 700 shares of Guidewire Software stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $210.00, for a total value of $147,000.00. Following the completion of the sale, the president now directly owns 177,746 shares of the company’s stock, valued at $37,326,660. The trade was a 0.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 36,106 shares of company stock worth $6,489,127 in the last ninety days. 0.48% of the stock is owned by insiders.

Hedge Funds Weigh In On Guidewire Software

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Massachusetts Financial Services Co. MA lifted its position in shares of Guidewire Software by 24.7% during the third quarter. Massachusetts Financial Services Co. MA now owns 3,426,907 shares of the technology company’s stock worth $626,918,000 after purchasing an additional 679,558 shares in the last quarter. International Assets Investment Management LLC increased its stake 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 worth $472,220,000 after buying an additional 256,702 shares during the period. Point72 Asset Management L.P. acquired a new stake in Guidewire Software during the 3rd quarter worth approximately $26,501,000. Janus Henderson Group PLC boosted its position in Guidewire Software by 355.8% in the 3rd quarter. Janus Henderson Group PLC now owns 162,447 shares of the technology company’s stock valued at $29,719,000 after buying an additional 126,806 shares during the period. Finally, Assenagon Asset Management S.A. increased its position in shares of Guidewire Software by 370.4% during the third quarter. Assenagon Asset Management S.A. now owns 150,328 shares of the technology company’s stock worth $27,501,000 after acquiring an additional 118,369 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.