Guidewire Software Inc (GWRE) Given Consensus Recommendation of “Hold” by Brokerages
Shares of Guidewire Software Inc (NYSE:GWRE) have received an average recommendation of “Hold” from the eleven research firms that are currently covering the firm. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $68.86.
A number of research firms have recently issued reports on GWRE. Zacks Investment Research lowered Guidewire Software from a “hold” rating to a “sell” rating in a report on Tuesday, October 11th. Goldman Sachs Group Inc. started coverage on Guidewire Software in a report on Tuesday, October 4th. They set a “neutral” rating and a $57.00 price objective on the stock. They noted that the move was a valuation call. Deutsche Bank AG reaffirmed a “buy” rating and set a $80.00 price objective on shares of Guidewire Software in a report on Thursday, September 29th. Bank of America Corp. lowered Guidewire Software from a “neutral” rating to an “underperform” rating and set a $60.00 price objective on the stock. in a report on Friday, September 16th. They noted that the move was a valuation call. Finally, JMP Securities reaffirmed a “hold” rating on shares of Guidewire Software in a report on Thursday, September 8th.
In other news, General Counsel James Winston King sold 561 shares of the company’s stock in a transaction on Thursday, October 13th. The stock was sold at an average price of $58.47, for a total value of $32,801.67. Following the sale, the general counsel now directly owns 104 shares in the company, valued at $6,080.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Marcus Ryu sold 20,000 shares of the company’s stock in a transaction on Monday, August 1st. The shares were sold at an average price of $61.45, for a total value of $1,229,000.00. Following the completion of the sale, the chief executive officer now owns 20,000 shares in the company, valued at $1,229,000. The disclosure for this sale can be found here.
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Several hedge funds have recently modified their holdings of GWRE. State Street Corp increased its stake in shares of Guidewire Software by 2.7% in the first quarter. State Street Corp now owns 1,273,842 shares of the company’s stock valued at $69,403,000 after buying an additional 33,481 shares in the last quarter. Emerald Advisers Inc. PA increased its stake in shares of Guidewire Software by 0.6% in the second quarter. Emerald Advisers Inc. PA now owns 226,950 shares of the company’s stock valued at $14,016,000 after buying an additional 1,340 shares in the last quarter. Public Employees Retirement Association of Colorado increased its stake in shares of Guidewire Software by 1.3% in the second quarter. Public Employees Retirement Association of Colorado now owns 174,641 shares of the company’s stock valued at $10,786,000 after buying an additional 2,322 shares in the last quarter. Wellington Management Group LLP increased its position in Guidewire Software by 44.0% in the first quarter. Wellington Management Group LLP now owns 4,266,255 shares of the company’s stock valued at $232,425,000 after buying an additional 1,304,174 shares during the period. Finally, Goldman Sachs Group Inc. increased its position in Guidewire Software by 30.3% in the first quarter. Goldman Sachs Group Inc. now owns 658,463 shares of the company’s stock valued at $35,873,000 after buying an additional 153,049 shares during the period.
Shares of Guidewire Software (NYSE:GWRE) traded up 1.35% on Tuesday, reaching $58.65. The company’s stock had a trading volume of 143,338 shares. The company has a 50 day moving average of $60.39 and a 200 day moving average of $59.57. The stock has a market capitalization of $4.29 billion and a P/E ratio of 293.25. Guidewire Software has a 1-year low of $42.32 and a 1-year high of $64.78.
Guidewire Software (NYSE:GWRE) last released its earnings results on Wednesday, September 7th. The company reported $0.39 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.32 by $0.07. The company earned $141.18 million during the quarter, compared to analyst estimates of $136.09 million. The company’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.35 EPS. Equities research analysts expect that Guidewire Software will post $0.76 earnings per share for the current fiscal year.
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. Its platform consists of three products: core transaction processing, data management and analytics, and digital engagement.
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