Guidewire Software (NYSE:GWRE) Shares Gap Up – Should You Buy?

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 changing hands.

Wall Street Analyst Weigh In

GWRE has been the subject of several recent research reports. JMP Securities reiterated a “market outperform” rating and issued a $231.00 price target on shares of Guidewire Software in a research report on Friday, December 6th. The Goldman Sachs Group started coverage on Guidewire Software in a research report on Thursday. They set a “buy” rating and a $210.00 price target on the stock. Oppenheimer raised their price objective on shares of Guidewire Software from $220.00 to $230.00 and gave the company an “outperform” rating in a research report on Friday, December 6th. DA Davidson reiterated a “buy” rating and issued a $210.00 target price on shares of Guidewire Software in a research note on Wednesday, December 4th. Finally, Needham & Company LLC restated a “hold” rating on shares of Guidewire Software in a research report on Friday, December 6th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, Guidewire Software presently has a consensus rating of “Moderate Buy” and a consensus price target of $196.08.

Guidewire Software Stock Up 0.4 %

The stock has a market cap of $17.15 billion, a P/E ratio of 570.40, a P/E/G ratio of 47.71 and a beta of 1.23. The company has a 50-day simple moving average of $182.60 and a two-hundred day simple moving average of $171.52. The company has a quick ratio of 2.66, a current ratio of 2.66 and a debt-to-equity ratio of 0.53.

Insider Buying and Selling

In related news, insider James Winston King sold 1,509 shares of the firm’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 transaction of $258,129.54. Following the completion of the transaction, the insider now owns 46,728 shares of the company’s stock, valued at $7,993,291.68. This trade represents a 3.13 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael George Rosenbaum sold 5,932 shares of the stock in a transaction 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 in the company, valued at approximately $48,192,733.80. This represents a 2.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 30,306 shares of company stock valued at $5,288,309 over the last ninety days. Company insiders own 0.48% of the company’s stock.

Hedge Funds Weigh In On Guidewire Software

Hedge funds have recently added to or reduced their stakes in the company. Donoghue Forlines LLC purchased a new position in Guidewire Software during the fourth quarter valued at approximately $2,110,000. Icon Wealth Advisors LLC lifted its stake in shares of Guidewire Software by 72.4% during the 3rd quarter. Icon Wealth Advisors LLC now owns 5,984 shares of the technology company’s stock valued at $1,095,000 after buying an additional 2,512 shares in the last quarter. Whale Rock Capital Management LLC increased its stake in Guidewire Software by 3.3% in the 3rd quarter. Whale Rock Capital Management LLC now owns 972,743 shares of the technology company’s stock worth $177,954,000 after buying an additional 31,512 shares in the last quarter. Cerity Partners LLC raised its holdings in Guidewire Software by 326.8% during the third quarter. Cerity Partners LLC now owns 21,799 shares of the technology company’s stock valued at $3,988,000 after acquiring an additional 16,692 shares during the period. Finally, Xponance Inc. grew its position in shares of Guidewire Software by 79.8% during the second quarter. Xponance Inc. now owns 6,908 shares of the technology company’s stock worth $953,000 after purchasing an additional 3,066 shares in the last quarter.

About Guidewire Software

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.