Guidewire Software (NYSE:GWRE) Shares Up 6.3% – Time to Buy?

Guidewire Software, Inc. (NYSE:GWRE) rose 6.3% on Friday . The company traded as high as $118.86 and last traded at $117.0550. Approximately 98,379 shares traded hands during mid-day trading, a decline of 94% from the average daily volume of 1,671,237 shares. The stock had previously closed at $110.10.

Analysts Set New Price Targets

Several research firms recently commented on GWRE. Weiss Ratings reissued a “hold (c)” rating on shares of Guidewire Software in a research note on Wednesday, June 3rd. DA Davidson dropped their price target on Guidewire Software from $246.00 to $222.00 and set a “buy” rating on the stock in a report on Monday, June 8th. Zacks Research lowered Guidewire Software from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 25th. Wells Fargo & Company cut their target price on Guidewire Software from $210.00 to $190.00 and set an “overweight” rating on the stock in a research report on Friday, June 5th. Finally, Royal Bank Of Canada decreased their price target on Guidewire Software from $250.00 to $215.00 and set an “outperform” rating for the company in a research report on Friday, June 5th. Ten equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, Guidewire Software has an average rating of “Moderate Buy” and an average target price of $221.36.

Guidewire Software Trading Up 9.6%

The company has a fifty day moving average of $132.94 and a two-hundred day moving average of $150.80. 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 has a market capitalization of $10.04 billion, a price-to-earnings ratio of 64.88 and a beta of 0.93.

Guidewire Software (NYSE:GWRE) last issued its quarterly earnings results on Thursday, June 4th. The technology company reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.08. Guidewire Software had a return on equity of 12.62% and a net margin of 11.25%.The company had revenue of $372.54 million for the quarter, compared to the consensus estimate of $355.92 million. During the same period last year, the business posted $0.88 earnings per share. The firm’s revenue was up 26.9% compared to the same quarter last year. On average, research analysts expect that Guidewire Software, Inc. will post 1.83 EPS for the current year.

Insider Buying and Selling at Guidewire Software

In other news, CAO David Franklin Peterson sold 246 shares of the company’s stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $118.74, for a total value of $29,210.04. Following the sale, the chief accounting officer owned 12,287 shares of the company’s stock, valued at approximately $1,458,958.38. This represents a 1.96% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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 George Rosenbaum sold 1,200 shares of the firm’s stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $105.67, for a total transaction of $126,804.00. Following the sale, the chief executive officer directly owned 198,576 shares of the company’s stock, valued at approximately $20,983,525.92. The trade was a 0.60% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 29,709 shares of company stock worth $3,740,332 in the last 90 days. 0.46% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in GWRE. Dynamic Technology Lab Private Ltd lifted its position in Guidewire Software by 901.1% during the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 9,110 shares of the technology company’s stock valued at $2,094,000 after purchasing an additional 8,200 shares during the period. Comerica Bank grew its holdings in Guidewire Software by 52.0% during the 4th quarter. Comerica Bank now owns 78,659 shares of the technology company’s stock worth $15,811,000 after acquiring an additional 26,912 shares during the period. BDF Gestion acquired a new position in shares of Guidewire Software in the 4th quarter valued at $1,803,000. American Century Companies Inc. boosted its position in shares of Guidewire Software by 3.4% in the 3rd quarter. American Century Companies Inc. now owns 520,390 shares of the technology company’s stock worth $119,617,000 after purchasing an additional 17,104 shares during the last quarter. Finally, Fieldview Capital Management LLC acquired a new stake in shares of Guidewire Software during the third quarter worth $2,862,000.

About Guidewire Software

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.