Guidewire Software, Inc. (GWRE) Upgraded at BidaskClub
Guidewire Software, Inc. (NYSE:GWRE) was upgraded by analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Saturday.
Other equities analysts have also recently issued research reports about the stock. Zacks Investment Research cut shares of Guidewire Software from a “buy” rating to a “hold” rating in a research note on Wednesday, August 2nd. UBS AG upped their target price on shares of Guidewire Software from $72.00 to $77.00 and gave the company a “buy” rating in a research note on Friday, June 2nd. J P Morgan Chase & Co assumed coverage on shares of Guidewire Software in a research note on Tuesday, June 13th. They set an “overweight” rating on the stock. ValuEngine upgraded shares of Guidewire Software from a “sell” rating to a “hold” rating in a research note on Thursday, August 3rd. Finally, Piper Jaffray Companies upgraded shares of Guidewire Software from a “neutral” rating to an “overweight” rating and upped their target price for the company from $70.00 to $75.00 in a research note on Tuesday, June 13th. Five analysts have rated the stock with a hold rating, five have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $75.25.
Shares of Guidewire Software (GWRE) traded down 0.42% during mid-day trading on Friday, reaching $70.59. 389,597 shares of the company’s stock traded hands. The firm’s 50 day moving average price is $70.61 and its 200-day moving average price is $62.91. Guidewire Software has a 12-month low of $49.18 and a 12-month high of $73.36. The stock has a market cap of $5.25 billion, a price-to-earnings ratio of 515.26 and a beta of 1.27.
Guidewire Software (NYSE:GWRE) last posted its earnings results on Thursday, June 1st. The technology company reported $0.16 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 net margin of 2.19% and a return on equity of 1.97%. The business’s revenue for the quarter was up 24.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.14 EPS. Equities research analysts forecast that Guidewire Software will post $0.85 earnings per share for the current year.
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In other Guidewire Software news, CEO Marcus Ryu sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 1st. The shares were sold at an average price of $66.86, for a total transaction of $1,337,200.00. Following the sale, the chief executive officer now owns 201,775 shares in the company, valued at approximately $13,490,676.50. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Richard Hart sold 375 shares of the firm’s stock in a transaction that occurred on Monday, June 5th. The stock was sold at an average price of $69.26, for a total transaction of $25,972.50. Following the sale, the chief financial officer now owns 3,880 shares in the company, valued at approximately $268,728.80. The disclosure for this sale can be found here. Insiders sold a total of 115,140 shares of company stock worth $7,904,185 in the last quarter. Company insiders own 0.96% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the company. Israel Discount Bank of New York purchased a new stake in Guidewire Software during the first quarter worth approximately $104,000. D.A. Davidson & CO. boosted its stake in Guidewire Software by 2,270.8% in the second quarter. D.A. Davidson & CO. now owns 1,541 shares of the technology company’s stock worth $105,000 after buying an additional 1,476 shares during the last quarter. Tower Research Capital LLC TRC boosted its stake 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 during the last quarter. The Manufacturers Life Insurance Company boosted its stake in Guidewire Software by 7.3% in the second quarter. The Manufacturers Life Insurance Company now owns 2,205 shares of the technology company’s stock worth $151,000 after buying an additional 150 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Guidewire Software by 12.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,536 shares of the technology company’s stock worth $174,000 after buying an additional 283 shares during the last quarter.
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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