Guidewire Software, Inc. (NYSE:GWRE - Get Free Report) reached a new 52-week high during trading on Tuesday after The Goldman Sachs Group raised their price target on the stock from $210.00 to $240.00. The Goldman Sachs Group currently has a buy rating on the stock. Guidewire Software traded as high as $219.59 and last traded at $218.04, with a volume of 883192 shares. The stock had previously closed at $213.53.
A number of other brokerages have also recently issued reports on GWRE. Wells Fargo & Company boosted their price objective on Guidewire Software from $215.00 to $220.00 and gave the company an "overweight" rating in a research note on Friday, December 6th. Oppenheimer boosted their price objective on Guidewire Software from $220.00 to $230.00 and gave the company an "outperform" rating in a research note on Friday, December 6th. Robert W. Baird boosted their price objective on Guidewire Software from $204.00 to $220.00 and gave the company an "outperform" rating in a research note on Tuesday, November 19th. JMP Securities restated a "market outperform" rating and issued a $231.00 price objective on shares of Guidewire Software in a research note on Friday, December 6th. Finally, JPMorgan Chase & Co. upped their price target on Guidewire Software from $210.00 to $228.00 and gave the company an "overweight" rating in a research report on Friday, December 6th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $204.50.
Get Our Latest Research Report on GWRE
In other Guidewire Software news, President John P. Mullen sold 1,350 shares of the company's stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $197.72, for a total value of $266,922.00. Following the completion of the sale, the president now owns 189,261 shares of the company's stock, valued at $37,420,684.92. This represents a 0.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael George Rosenbaum sold 5,932 shares of the company's stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $171.06, for a total value of $1,014,727.92. Following the completion of the sale, the chief executive officer now directly owns 281,730 shares of the company's stock, valued at approximately $48,192,733.80. This represents a 2.06 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 37,506 shares of company stock valued at $6,789,679. 0.48% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of GWRE. Massachusetts Financial Services Co. MA lifted its position in Guidewire Software by 24.7% in the third quarter. Massachusetts Financial Services Co. MA now owns 3,426,907 shares of the technology company's stock valued at $626,918,000 after purchasing an additional 679,558 shares during the last quarter. International Assets Investment Management LLC raised its holdings in shares of Guidewire Software by 18,001.5% during the third 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 in the last quarter. Point72 Asset Management L.P. purchased a new stake in Guidewire Software in the third quarter worth $26,501,000. Janus Henderson Group PLC lifted its stake in Guidewire Software by 355.8% in the third quarter. Janus Henderson Group PLC now owns 162,447 shares of the technology company's stock worth $29,719,000 after acquiring an additional 126,806 shares during the period. Finally, Assenagon Asset Management S.A. lifted its stake in Guidewire Software by 370.4% in 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.
The business has a 50 day moving average of $185.24 and a 200 day moving average of $177.46. The company has a market cap of $18.21 billion, a PE ratio of 605.68, a price-to-earnings-growth ratio of 56.59 and a beta of 1.25. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.66 and a quick ratio of 2.66.
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.
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