Guidewire Software (NYSE:GWRE) Shares Gap Up – Here’s What Happened

Shares of Guidewire Software, Inc. (NYSE:GWRE) gapped up before the market opened on Thursday . The stock had previously closed at $183.49, but opened at $194.12. Guidewire Software shares last traded at $196.54, with a volume of 399,251 shares.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on GWRE. The Goldman Sachs Group began coverage on Guidewire Software in a research note on Thursday. They set a “buy” rating and a $210.00 target price for the company. Oppenheimer increased their target price on Guidewire Software from $220.00 to $230.00 and gave the company an “outperform” rating in a report on Friday, December 6th. Stifel Nicolaus boosted their price target on Guidewire Software from $200.00 to $220.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. Wells Fargo & Company boosted their price objective on Guidewire Software from $215.00 to $220.00 and gave the stock an “overweight” rating in a research report on Friday, December 6th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Guidewire Software in a research note on Friday, December 6th. One analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, Guidewire Software currently has an average rating of “Moderate Buy” and a consensus target price of $196.08.

Guidewire Software Trading Up 9.9 %

The firm has a market capitalization of $16.84 billion, a price-to-earnings ratio of 558.93, a PEG ratio of 47.19 and a beta of 1.23. The company has a current ratio of 2.66, a quick ratio of 2.66 and a debt-to-equity ratio of 0.53. The company has a fifty day moving average price of $182.12 and a two-hundred day moving average price of $170.82.

Insider Buying and Selling at Guidewire Software

In other Guidewire Software news, CEO Michael George Rosenbaum sold 5,932 shares of the business’s stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $171.06, for a total value of $1,014,727.92. Following the transaction, the chief executive officer now owns 281,730 shares in the company, valued at $48,192,733.80. The trade was a 2.06 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, President John P. Mullen sold 1,350 shares of the company’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $197.72, for a total transaction of $266,922.00. Following the completion of the sale, the president now owns 189,261 shares in the company, valued at approximately $37,420,684.92. This trade represents a 0.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 29,606 shares of company stock worth $5,141,309 over the last 90 days. Corporate insiders own 0.48% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Versant Capital Management Inc bought a new position in shares of Guidewire Software during the 4th quarter worth about $25,000. Assetmark Inc. increased its position in Guidewire Software by 537.0% in the 3rd quarter. Assetmark Inc. now owns 172 shares of the technology company’s stock valued at $31,000 after acquiring an additional 145 shares in the last quarter. Point72 Hong Kong Ltd acquired a new stake in shares of Guidewire Software during the 3rd quarter worth approximately $33,000. Brooklyn Investment Group acquired a new stake in shares of Guidewire Software during the 3rd quarter worth approximately $42,000. Finally, R Squared Ltd acquired a new stake in shares of Guidewire Software during the 4th quarter worth approximately $47,000.

Guidewire Software Company Profile

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.