Brokerages Expect Guidewire Software Inc (GWRE) Will Post Quarterly Sales of $104.49 Million
Equities research analysts expect Guidewire Software Inc (NYSE:GWRE) to post sales of $104.49 million for the current fiscal quarter, Zacks reports. Four analysts have provided estimates for Guidewire Software’s earnings, with the lowest sales estimate coming in at $103.97 million and the highest estimate coming in at $106 million. Guidewire Software posted sales of $98.86 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 5.7%. The business is scheduled to issue its next earnings report after the market closes on Thursday, June 1st.
According to Zacks, analysts expect that Guidewire Software will report full-year sales of $104.49 million for the current financial year, with estimates ranging from $495 million to $499 million. For the next fiscal year, analysts forecast that the business will post sales of $572 million per share, with estimates ranging from $561.78 million to $585 million. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for Guidewire Software.
Guidewire Software (NYSE:GWRE) last announced its quarterly earnings results on Thursday, March 2nd. The technology company reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.14. The business had revenue of $115.60 million during the quarter, compared to analysts’ expectations of $109.65 million. During the same period in the previous year, the business earned $0.24 EPS. The business’s revenue was up 13.2% compared to the same quarter last year.
A number of research analysts have recently weighed in on the company. Zacks Investment Research lowered Guidewire Software from a “hold” rating to a “sell” rating in a report on Tuesday, January 31st. Goldman Sachs Group Inc raised Guidewire Software from a “neutral” rating to a “conviction-buy” rating and raised their target price for the stock from $59.00 to $70.00 in a report on Tuesday, April 4th. TheStreet raised Guidewire Software from a “c+” rating to a “b-” rating in a report on Tuesday, April 25th. Finally, Bank of America Corp raised Guidewire Software from an “underperform” rating to a “neutral” rating and set a $68.00 target price on the stock in a report on Monday, May 15th. Four analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. Guidewire Software has a consensus rating of “Buy” and a consensus price target of $72.00.
In other Guidewire Software news, CEO Marcus Ryu sold 15,000 shares of Guidewire Software stock in a transaction dated Wednesday, March 1st. The stock was sold at an average price of $54.84, for a total transaction of $822,600.00. Following the completion of the sale, the chief executive officer now directly owns 16,230 shares of the company’s stock, valued at approximately $890,053.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Craig Conway sold 600 shares of Guidewire Software stock in a transaction dated Monday, April 17th. The stock was sold at an average price of $58.43, for a total value of $35,058.00. Following the sale, the director now directly owns 10,947 shares of the company’s stock, valued at $639,633.21. The disclosure for this sale can be found here. Over the last three months, insiders sold 109,366 shares of company stock worth $6,398,287.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Israel Discount Bank of New York purchased a new stake in shares of Guidewire Software during the first quarter valued at approximately $104,000. Pacer Advisors Inc. raised its position in Guidewire Software by 9.0% in the third quarter. Pacer Advisors Inc. now owns 2,189 shares of the technology company’s stock worth $131,000 after buying an additional 180 shares in the last quarter. Tower Research Capital LLC TRC raised its position in Guidewire Software by 424.4% in the first quarter. Tower Research Capital LLC TRC now owns 2,601 shares of the technology company’s stock worth $146,000 after buying an additional 2,105 shares in the last quarter. Sciencast Management LP purchased a new position in Guidewire Software during the fourth quarter worth $212,000. Finally, SG Americas Securities LLC raised its position in Guidewire Software by 28.6% in the first quarter. SG Americas Securities LLC now owns 3,814 shares of the technology company’s stock worth $215,000 after buying an additional 848 shares in the last quarter.
Shares of Guidewire Software (NYSE:GWRE) traded up 1.78% during mid-day trading on Friday, reaching $67.41. The company had a trading volume of 173,806 shares. The firm has a 50-day moving average price of $60.94 and a 200-day moving average price of $56.29. The stock has a market capitalization of $4.98 billion and a price-to-earnings ratio of 426.65. Guidewire Software has a 1-year low of $49.18 and a 1-year high of $67.47.
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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