Guidewire Software (NYSE:GWRE) Trading 7.1% Higher – What’s Next?

Guidewire Software, Inc. (NYSE:GWRE)’s share price traded up 7.1% during mid-day trading on Thursday . The company traded as high as $150.44 and last traded at $150.4950. 717,205 shares traded hands during mid-day trading, a decline of 57% from the average daily volume of 1,659,057 shares. The stock had previously closed at $140.54.

Wall Street Analyst Weigh In

Several analysts have issued reports on GWRE shares. Royal Bank Of Canada cut their price target on shares of Guidewire Software from $250.00 to $215.00 and set an “outperform” rating for the company in a research report on Friday, June 5th. BTIG Research reissued a “buy” rating and issued a $175.00 target price on shares of Guidewire Software in a research note on Thursday, July 2nd. Weiss Ratings restated a “hold (c)” rating on shares of Guidewire Software in a report on Wednesday, June 3rd. Citizens Jmp reduced their price target on Guidewire Software from $300.00 to $220.00 and set a “market outperform” rating on the stock in a research report on Friday, June 5th. Finally, Zacks Research lowered Guidewire Software from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 25th. Eleven investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $224.42.

Guidewire Software Stock Up 6.3%

The company has a market capitalization of $12.44 billion, a P/E ratio of 80.53 and a beta of 0.95. The company has a current ratio of 2.44, a quick ratio of 2.44 and a debt-to-equity ratio of 0.51. The stock’s fifty day moving average is $131.45 and its 200 day moving average is $144.14.

Guidewire Software (NYSE:GWRE) last announced its quarterly earnings results on Thursday, June 4th. The technology company reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.08. Guidewire Software had a net margin of 11.25% and a return on equity of 12.62%. The business had revenue of $372.54 million for the quarter, compared to analyst estimates of $355.92 million. During the same quarter last year, the firm earned $0.88 EPS. The company’s revenue was up 26.9% on a year-over-year basis. Research analysts predict that Guidewire Software, Inc. will post 1.83 EPS for the current fiscal year.

Insider Activity at Guidewire Software

In other Guidewire Software news, insider James Winston King sold 1,684 shares of the stock in a transaction that occurred on Thursday, July 9th. The stock was sold at an average price of $130.64, for a total value of $219,997.76. Following the completion of the sale, the insider owned 30,018 shares in the company, valued at approximately $3,921,551.52. This trade represents a 5.31% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President John P. Mullen sold 4,292 shares of Guidewire Software stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $118.74, for a total value of $509,632.08. Following the completion of the sale, the president owned 131,115 shares in the company, valued at approximately $15,568,595.10. This represents a 3.17% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 31,393 shares of company stock valued at $3,960,558 in the last quarter. 0.46% of the stock is currently owned by company insiders.

Institutional Trading of Guidewire Software

A number of institutional investors and hedge funds have recently added to or reduced their stakes in GWRE. IFP Advisors Inc raised its holdings in Guidewire Software by 4.6% in the 3rd quarter. IFP Advisors Inc now owns 1,104 shares of the technology company’s stock worth $254,000 after purchasing an additional 49 shares during the period. American Trust raised its position in shares of Guidewire Software by 3.9% during the third quarter. American Trust now owns 1,632 shares of the technology company’s stock valued at $375,000 after buying an additional 61 shares during the last quarter. Vident Advisory LLC increased its holdings in Guidewire Software by 1.7% in the 3rd quarter. Vident Advisory LLC now owns 4,074 shares of the technology company’s stock valued at $936,000 after acquiring an additional 70 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Guidewire Software by 18.3% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 505 shares of the technology company’s stock worth $102,000 after buying an additional 78 shares in the last quarter. Finally, Castleark Management LLC raised its holdings in shares of Guidewire Software by 1.6% during the 1st quarter. Castleark Management LLC now owns 5,180 shares of the technology company’s stock worth $775,000 after acquiring an additional 80 shares in the last quarter.

Guidewire Software Company Profile

Guidewire Software, Inc develops software products and cloud services for property and casualty (P&C) insurance carriers. Headquartered in San Mateo, California, the company’s offerings are designed to help insurers manage the core functions of their business—policy administration, billing and claims—while supporting digital engagement, analytics and operational modernization.

Guidewire’s core product portfolio is commonly known as the InsuranceSuite, which includes PolicyCenter for policy administration, BillingCenter for billing and receivables, and ClaimCenter for claims management.