BidaskClub cut shares of Guidewire Software, Inc. (NYSE:GWRE) from a strong-buy rating to a buy rating in a research report sent to investors on Wednesday morning.
Other equities research analysts have also recently issued research reports about the company. KeyCorp reaffirmed a buy rating and issued a $86.00 price target on shares of Guidewire Software in a report on Friday, September 29th. Zacks Investment Research cut Guidewire Software from a buy rating to a hold rating in a report on Wednesday, August 2nd. TheStreet upgraded Guidewire Software from a c+ rating to a b rating in a research report on Wednesday, September 6th. Stifel Nicolaus increased their price objective on Guidewire Software from $70.00 to $75.00 and gave the stock a hold rating in a research report on Thursday, September 7th. Finally, ValuEngine upgraded Guidewire Software from a sell rating to a hold rating in a research report on Thursday, August 3rd. Five analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. The company has an average rating of Buy and a consensus target price of $80.22.
Shares of Guidewire Software (NYSE GWRE) traded up 0.49% during trading on Wednesday, hitting $77.77. The stock had a trading volume of 395,596 shares. The firm has a market cap of $5.83 billion, a price-to-earnings ratio of 277.75 and a beta of 1.22. The firm’s 50-day moving average is $77.78 and its 200 day moving average is $69.55. Guidewire Software has a 52-week low of $49.18 and a 52-week high of $81.46.
Guidewire Software (NYSE:GWRE) last posted its quarterly earnings results on Wednesday, September 6th. The technology company reported $0.59 EPS for the quarter, beating the consensus estimate of $0.39 by $0.20. Guidewire Software had a return on equity of 3.59% and a net margin of 4.13%. The firm had revenue of $181.10 million during the quarter, compared to analysts’ expectations of $168.61 million. During the same quarter last year, the firm earned $0.22 earnings per share. The business’s revenue for the quarter was up 28.3% on a year-over-year basis. On average, analysts expect that Guidewire Software will post $0.97 EPS for the current year.
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In other news, CEO Marcus Ryu sold 25,000 shares of the firm’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $72.34, for a total transaction of $1,808,500.00. Following the completion of the transaction, the chief executive officer now directly owns 164,139 shares in the company, valued at $11,873,815.26. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Scott Roza sold 782 shares of the firm’s stock in a transaction on Monday, October 16th. The stock was sold at an average price of $78.51, for a total value of $61,394.82. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 114,870 shares of company stock valued at $8,738,930. Company insiders own 0.96% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of Guidewire Software by 1.7% during the second quarter. Vanguard Group Inc. now owns 5,789,792 shares of the technology company’s stock worth $397,816,000 after buying an additional 96,478 shares during the period. BlackRock Inc. boosted its holdings in Guidewire Software by 3.4% in the second quarter. BlackRock Inc. now owns 3,175,007 shares of the technology company’s stock valued at $218,156,000 after purchasing an additional 103,707 shares during the period. Janus Henderson Group PLC purchased a new position in Guidewire Software in the second quarter valued at $113,628,000. Blair William & Co. IL boosted its holdings in Guidewire Software by 2.7% in the second quarter. Blair William & Co. IL now owns 1,134,346 shares of the technology company’s stock valued at $77,941,000 after purchasing an additional 29,439 shares during the period. Finally, Eagle Asset Management Inc. boosted its holdings in Guidewire Software by 7.7% in the second quarter. Eagle Asset Management Inc. now owns 1,089,847 shares of the technology company’s stock valued at $74,883,000 after purchasing an additional 77,663 shares during the period.
About Guidewire Software
Guidewire Software, Inc is a provider of software products for property and casualty (P&C) insurers. The Company’s software serves as a technology platform for P&C insurance carriers. The Company’s InsurancePlatform consists of three elements: core transaction processing, data management and analytics, and digital engagement.
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