Guidewire Software (NYSE:GWRE) Shares Gap Up – What’s Next?

Shares of Guidewire Software, Inc. (NYSE:GWRE) gapped up before the market opened on Thursday. The stock had previously closed at $142.58, but opened at $149.00. Guidewire Software shares last traded at $153.3020, with a volume of 130,995 shares.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Oppenheimer upped their price target on shares of Guidewire Software from $200.00 to $210.00 and gave the company an “outperform” rating in a report on Friday, September 4th. Wells Fargo & Company raised their price objective on shares of Guidewire Software from $190.00 to $195.00 and gave the stock an “overweight” rating in a report on Friday, September 4th. Stifel Nicolaus cut their price objective on shares of Guidewire Software from $225.00 to $200.00 and set a “buy” rating on the stock in a research report on Friday, June 5th. BTIG Research upped their target price on shares of Guidewire Software from $175.00 to $230.00 and gave the stock a “buy” rating in a research note on Wednesday, September 2nd. Finally, Citizens Jmp reiterated a “market outperform” rating and set a $220.00 target price on shares of Guidewire Software in a report on Friday, September 4th. Twelve research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $216.23.

Guidewire Software Trading Up 7.3%

The stock has a market cap of $12.73 billion, a price-to-earnings ratio of 93.58 and a beta of 0.97. The business has a 50-day simple moving average of $164.74 and a two-hundred day simple moving average of $146.84. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.79 and a current ratio of 1.79.

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

Insider Activity

In other Guidewire Software news, CFO Jeffrey Cooper sold 23,234 shares of the firm’s stock in a transaction that occurred on Thursday, September 17th. The stock was sold at an average price of $144.47, for a total value of $3,356,615.98. Following the completion of the transaction, the chief financial officer directly owned 95,361 shares in the company, valued at $13,776,803.67. This trade represents a 19.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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 72,290 shares of the stock in a transaction that occurred on Thursday, September 17th. The shares were sold at an average price of $144.47, for a total value of $10,443,736.30. Following the completion of the sale, the chief executive officer directly owned 280,866 shares of the company’s stock, valued at approximately $40,576,711.02. The trade was a 20.47% decrease in their position. The SEC filing for this sale provides additional information. 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. In the last ninety days, insiders sold 193,232 shares of company stock valued at $28,794,756. Corporate insiders own 0.46% of the company’s stock.

Institutional Investors Weigh In On Guidewire Software

Several hedge funds have recently added to or reduced their stakes in GWRE. Castleark Management LLC increased its holdings in shares of Guidewire Software by 1.6% in the first quarter. Castleark Management LLC now owns 5,180 shares of the technology company’s stock valued at $775,000 after purchasing an additional 80 shares during the last quarter. Avory & Company LLC boosted its position in shares of Guidewire Software by 10.0% in the fourth quarter. Avory & Company LLC now owns 1,187 shares of the technology company’s stock valued at $239,000 after acquiring an additional 108 shares during the period. Harbour Investments Inc. boosted its position in shares of Guidewire Software by 83.0% in the fourth quarter. Harbour Investments Inc. now owns 247 shares of the technology company’s stock valued at $50,000 after acquiring an additional 112 shares during the period. Elevation Wealth Partners LLC grew its stake in shares of Guidewire Software by 35.1% in the second quarter. Elevation Wealth Partners LLC now owns 458 shares of the technology company’s stock valued at $56,000 after acquiring an additional 119 shares in the last quarter. Finally, D.A. Davidson & CO. increased its position in Guidewire Software by 3.0% during the first quarter. D.A. Davidson & CO. now owns 4,234 shares of the technology company’s stock worth $633,000 after acquiring an additional 124 shares during the period.

About Guidewire Software

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.