Guidewire Software (NYSE:GWRE) Issues Earnings Results

Guidewire Software (NYSE:GWRE) issued its earnings results on Wednesday. The technology company reported $0.38 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.28), Zacks reports. Guidewire Software had a return on equity of 9.00% and a net margin of 5.81%.

Guidewire Software Stock Performance

Shares of GWRE traded up $1.09 during trading hours on Wednesday, reaching $215.81. 1,494,053 shares of the company traded hands, compared to its average volume of 892,237. The company has a quick ratio of 2.77, a current ratio of 2.77 and a debt-to-equity ratio of 0.46. The business has a fifty day moving average price of $229.52 and a 200-day moving average price of $229.18. Guidewire Software has a 12-month low of $165.08 and a 12-month high of $272.60. The stock has a market capitalization of $18.35 billion, a P/E ratio of 269.76, a P/E/G ratio of 13.06 and a beta of 1.08.

Insider Transactions at Guidewire Software

In other Guidewire Software news, CEO Michael George Rosenbaum sold 30,317 shares of the firm’s stock in a transaction that occurred on Tuesday, September 16th. The shares were sold at an average price of $242.87, for a total transaction of $7,363,089.79. Following the completion of the transaction, the chief executive officer directly owned 264,958 shares of the company’s stock, valued at approximately $64,350,349.46. This trade represents a 10.27% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO David Franklin Peterson sold 1,811 shares of the business’s stock in a transaction on Tuesday, September 16th. The shares were sold at an average price of $242.87, for a total transaction of $439,837.57. Following the transaction, the chief accounting officer owned 14,164 shares of the company’s stock, valued at $3,440,010.68. This represents a 11.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 112,342 shares of company stock valued at $27,113,960. 0.46% of the stock is owned by company insiders.

Hedge Funds Weigh In On Guidewire Software

Institutional investors have recently made changes to their positions in the company. Advisors Asset Management Inc. purchased a new position in shares of Guidewire Software in the 1st quarter valued at about $25,000. Measured Wealth Private Client Group LLC acquired a new position in shares of Guidewire Software during the 3rd quarter worth approximately $29,000. Employees Retirement System of Texas grew its stake in Guidewire Software by 26.4% in the 3rd quarter. Employees Retirement System of Texas now owns 781 shares of the technology company’s stock valued at $180,000 after acquiring an additional 163 shares during the period. National Bank of Canada FI increased its holdings in Guidewire Software by 68.2% in the 3rd quarter. National Bank of Canada FI now owns 890 shares of the technology company’s stock worth $204,000 after acquiring an additional 361 shares in the last quarter. Finally, Massar Capital Management LP acquired a new position in Guidewire Software during the second quarter worth $207,000.

Analysts Set New Price Targets

Several brokerages have weighed in on GWRE. Raymond James Financial reiterated an “outperform” rating and issued a $275.00 target price (up from $255.00) on shares of Guidewire Software in a report on Friday, September 5th. DA Davidson reaffirmed a “neutral” rating and issued a $250.00 price objective on shares of Guidewire Software in a research note on Monday. Wall Street Zen downgraded shares of Guidewire Software from a “buy” rating to a “hold” rating in a research report on Friday, November 28th. Zacks Research upgraded shares of Guidewire Software from a “hold” rating to a “strong-buy” rating in a report on Monday, November 3rd. Finally, Citigroup dropped their price objective on shares of Guidewire Software from $267.00 to $242.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 26th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $272.00.

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.