$168.72 Million in Sales Expected for Guidewire Software Inc (NYSE:GWRE) This Quarter
Equities analysts expect Guidewire Software Inc (NYSE:GWRE) to post $168.72 million in sales for the current quarter, Zacks reports. Three analysts have issued estimates for Guidewire Software’s earnings, with the lowest sales estimate coming in at $167.44 million and the highest estimate coming in at $169.82 million. Guidewire Software posted sales of $141.18 million during the same quarter last year, which would indicate a positive year over year growth rate of 19.5%. The company is expected to announce its next quarterly earnings results on Wednesday, September 6th.
According to Zacks, analysts expect that Guidewire Software will report full-year sales of $168.72 million for the current year, with estimates ranging from $495.00 million to $503.00 million. For the next fiscal year, analysts anticipate that the firm will post sales of $601.29 million per share, with estimates ranging from $585.00 million to $613.50 million. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow Guidewire Software.
Guidewire Software (NYSE:GWRE) last released its quarterly earnings data on Thursday, June 1st. The technology company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.03) by $0.19. The business had revenue of $123.44 million for the quarter, compared to analysts’ expectations of $104.55 million. Guidewire Software had a negative return on equity of 0.88% and a negative net margin of 1.47%. The firm’s quarterly revenue was up 24.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.14 EPS.
Several equities analysts have issued reports on GWRE shares. Stifel Nicolaus lifted their price target on shares of Guidewire Software from $61.00 to $70.00 and gave the stock a “hold” rating in a report on Friday, June 2nd. J P Morgan Chase & Co started coverage on shares of Guidewire Software in a report on Tuesday, June 13th. They issued an “overweight” rating on the stock. Zacks Investment Research raised shares of Guidewire Software from a “hold” rating to a “buy” rating and set a $78.00 price target on the stock in a report on Wednesday, July 12th. Piper Jaffray Companies raised shares of Guidewire Software from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $70.00 to $75.00 in a report on Tuesday, June 13th. Finally, ValuEngine raised shares of Guidewire Software from a “sell” rating to a “hold” rating in a report on Thursday. Five analysts have rated the stock with a hold rating, five have issued a buy rating and two have given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $75.25.
Guidewire Software (NYSE:GWRE) opened at 70.99 on Monday. The company has a 50-day moving average price of $69.78 and a 200 day moving average price of $61.47. Guidewire Software has a 52-week low of $49.18 and a 52-week high of $73.36. The company has a market capitalization of $5.28 billion, a PE ratio of 518.18 and a beta of 1.27.
In other news, Director Craig Conway sold 600 shares of Guidewire Software stock in a transaction on Monday, May 15th. The shares were sold at an average price of $61.78, for a total transaction of $37,068.00. Following the completion of the sale, the director now directly owns 10,647 shares in the company, valued at $657,771.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Marcus Ryu sold 25,000 shares of Guidewire Software 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 sale, the chief executive officer now owns 164,139 shares of the company’s stock, valued at $11,873,815.26. The disclosure for this sale can be found here. Insiders have sold 116,755 shares of company stock valued at $7,988,647 over the last quarter. Insiders own 0.96% of the company’s stock.
Several large investors have recently bought and sold shares of GWRE. Israel Discount Bank of New York acquired a new position in Guidewire Software during the first quarter worth about $104,000. Tower Research Capital LLC TRC increased 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. First Trust Advisors LP acquired a new position in Guidewire Software during the second quarter worth about $214,000. SG Americas Securities LLC increased 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. Finally, MARSHALL WACE ASIA Ltd acquired a new position in Guidewire Software during the first quarter worth about $217,000.
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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