Stifel Nicolaus Raises Guidewire Software, Inc. (GWRE) Price Target to $75.00
Guidewire Software, Inc. (NYSE:GWRE) had its price objective lifted by stock analysts at Stifel Nicolaus from $70.00 to $75.00 in a report issued on Thursday, Marketbeat Ratings reports. The firm presently has a “hold” rating on the technology company’s stock. Stifel Nicolaus’ price target indicates a potential upside of 2.42% from the stock’s previous close.
Several other equities analysts have also recently weighed in on GWRE. UBS AG raised their price target on Guidewire Software from $72.00 to $77.00 and gave the company a “buy” rating in a report on Friday, June 2nd. BidaskClub cut Guidewire Software from a “strong-buy” rating to a “buy” rating in a report on Friday, August 11th. ValuEngine upgraded Guidewire Software from a “sell” rating to a “hold” rating in a report on Thursday, August 3rd. TheStreet cut Guidewire Software from a “b-” rating to a “c+” rating in a report on Monday, August 14th. Finally, Zacks Investment Research cut Guidewire Software from a “buy” rating to a “hold” rating in a report on Wednesday, August 2nd. Five equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $76.33.
Guidewire Software (GWRE) traded up 9.607% on Thursday, reaching $80.265. The company’s stock had a trading volume of 1,096,109 shares. Guidewire Software has a 1-year low of $49.18 and a 1-year high of $80.67. The company has a market capitalization of $5.97 billion, a price-to-earnings ratio of 585.876 and a beta of 1.24. The firm’s 50 day moving average price is $71.90 and its 200-day moving average price is $64.73.
Guidewire Software (NYSE:GWRE) last released its quarterly earnings results on Wednesday, September 6th. The technology company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.20. The business had revenue of $181.10 million during the quarter, compared to analysts’ expectations of $168.61 million. Guidewire Software had a return on equity of 1.97% and a net margin of 2.19%. The firm’s revenue for the quarter was up 28.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.22 EPS. Equities analysts forecast that Guidewire Software will post $1.01 earnings per share for the current year.
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In related news, insider Scott Roza sold 780 shares of the business’s stock in a transaction on Thursday, June 15th. The stock was sold at an average price of $66.56, for a total transaction of $51,916.80. Following the completion of the transaction, the insider now owns 5,740 shares in the company, valued at approximately $382,054.40. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Marcus Ryu sold 25,000 shares of the business’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $75.51, for a total value of $1,887,750.00. Following the transaction, the chief executive officer now owns 139,139 shares of the company’s stock, valued at approximately $10,506,385.89. The disclosure for this sale can be found here. In the last quarter, insiders sold 105,577 shares of company stock valued at $7,486,697. Company insiders own 0.96% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of GWRE. Israel Discount Bank of New York purchased a new position in Guidewire Software during the 1st quarter valued at $104,000. D.A. Davidson & CO. boosted its holdings in Guidewire Software by 2,270.8% during the 2nd quarter. D.A. Davidson & CO. now owns 1,541 shares of the technology company’s stock valued at $105,000 after acquiring an additional 1,476 shares during the period. Tower Research Capital LLC TRC boosted its holdings in Guidewire Software by 424.4% during the 1st quarter. Tower Research Capital LLC TRC now owns 2,601 shares of the technology company’s stock valued at $146,000 after acquiring an additional 2,105 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in Guidewire Software by 7.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,205 shares of the technology company’s stock valued at $151,000 after acquiring an additional 150 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Guidewire Software by 12.6% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,536 shares of the technology company’s stock valued at $174,000 after acquiring an additional 283 shares during the period.
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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