Traders Purchase High Volume of Guidewire Software Call Options (NYSE:GWRE)

Guidewire Software, Inc. (NYSE:GWRE) was the recipient of some unusual options trading activity on Wednesday. Investors bought 1,297 call options on the company. This represents an increase of approximately 1,563% compared to the average volume of 78 call options.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on GWRE. Robert W. Baird lifted their price target on Guidewire Software from $175.00 to $204.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 8th. BTIG Research boosted their target price on Guidewire Software from $140.00 to $165.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. Wells Fargo & Company boosted their target price on Guidewire Software from $200.00 to $205.00 and gave the stock an “overweight” rating in a research report on Friday, October 11th. The Goldman Sachs Group boosted their target price on Guidewire Software from $146.00 to $170.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. Finally, JPMorgan Chase & Co. boosted their target price on Guidewire Software from $170.00 to $210.00 and gave the stock an “overweight” rating in a research report on Thursday, October 3rd. One research analyst has rated the stock with a sell rating, two have given a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $178.62.

Guidewire Software Stock Performance

Shares of NYSE GWRE traded down $2.37 during midday trading on Friday, reaching $192.89. The stock had a trading volume of 31,415 shares, compared to its average volume of 694,184. The stock has a 50-day moving average of $182.84 and a 200-day moving average of $151.38. Guidewire Software has a 12-month low of $94.97 and a 12-month high of $199.33.

Guidewire Software (NYSE:GWRE) last announced its quarterly earnings data on Thursday, September 5th. The technology company reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.54 by $0.08. The firm had revenue of $291.50 million during the quarter, compared to analysts’ expectations of $283.84 million. Guidewire Software had a negative net margin of 0.62% and a negative return on equity of 1.29%. The company’s revenue for the quarter was up 8.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.30 earnings per share. Equities analysts anticipate that Guidewire Software will post 0.53 earnings per share for the current fiscal year.

Insider Activity

In other news, insider James Winston King sold 4,514 shares of Guidewire Software stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $172.66, for a total value of $779,387.24. Following the completion of the transaction, the insider now owns 48,237 shares of the company’s stock, valued at $8,328,600.42. The trade was a 8.56 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John P. Mullen sold 1,350 shares of Guidewire Software stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $149.03, for a total value of $201,190.50. Following the completion of the transaction, the insider now directly owns 137,821 shares of the company’s stock, valued at approximately $20,539,463.63. This represents a 0.97 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 52,601 shares of company stock worth $9,050,448. Corporate insiders own 0.48% of the company’s stock.

Hedge Funds Weigh In On Guidewire Software

A number of hedge funds and other institutional investors have recently modified their holdings of GWRE. Janney Montgomery Scott LLC boosted its position in shares of Guidewire Software by 11.6% during the first quarter. Janney Montgomery Scott LLC now owns 9,693 shares of the technology company’s stock worth $1,131,000 after acquiring an additional 1,010 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of Guidewire Software during the first quarter worth $417,000. Swiss National Bank boosted its position in shares of Guidewire Software by 0.7% during the first quarter. Swiss National Bank now owns 153,600 shares of the technology company’s stock worth $17,927,000 after acquiring an additional 1,100 shares during the last quarter. Bleakley Financial Group LLC lifted its position in Guidewire Software by 11.5% during the first quarter. Bleakley Financial Group LLC now owns 2,486 shares of the technology company’s stock valued at $290,000 after purchasing an additional 256 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System lifted its position in Guidewire Software by 4.7% during the first quarter. State Board of Administration of Florida Retirement System now owns 96,324 shares of the technology company’s stock valued at $11,242,000 after purchasing an additional 4,330 shares during the last quarter.

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.