Guidewire Software, Inc. (GWRE) Given New $76.00 Price Target at Bank of America Corporation
Guidewire Software, Inc. (NYSE:GWRE) had its price objective upped by research analysts at Bank of America Corporation from $74.00 to $76.00 in a report released on Thursday. The firm presently has a “neutral” rating on the technology company’s stock. Bank of America Corporation’s price objective indicates a potential downside of 4.77% from the company’s previous close.
Several other brokerages have also weighed in on GWRE. Stifel Nicolaus upped their target price on Guidewire Software from $70.00 to $75.00 and gave the stock a “hold” rating in a research report on Thursday. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $80.00 target price on shares of Guidewire Software in a research report on Sunday, August 27th. KeyCorp reaffirmed a “buy” rating and issued a $75.00 target price on shares of Guidewire Software in a research report on Friday, August 25th. ValuEngine raised Guidewire Software from a “sell” rating to a “hold” rating in a research report on Thursday, August 3rd. Finally, BidaskClub raised Guidewire Software from a “buy” rating to a “strong-buy” rating in a research report on Thursday, August 3rd. Five equities research analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the stock. Guidewire Software presently has an average rating of “Buy” and a consensus price target of $77.33.
Guidewire Software (NYSE GWRE) traded down 0.31% during trading on Thursday, hitting $79.81. The stock had a trading volume of 1,182,289 shares. The company has a 50 day moving average of $72.40 and a 200-day moving average of $64.94. The company has a market cap of $5.94 billion, a P/E ratio of 582.55 and a beta of 1.24. Guidewire Software has a 12-month low of $49.18 and a 12-month high of $81.46.
Guidewire Software (NYSE:GWRE) last issued its earnings results on Wednesday, September 6th. The technology company reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.20. Guidewire Software had a return on equity of 3.67% and a net margin of 4.13%. The company had revenue of $181.10 million for the quarter, compared to analyst estimates of $168.61 million. During the same period in the prior year, the firm posted $0.22 EPS. The business’s revenue was up 28.3% compared to the same quarter last year. On average, equities analysts predict that Guidewire Software will post $1.03 EPS for the current year.
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In related news, insider Scott Roza sold 780 shares of the stock in a transaction that occurred 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 sale, the insider now owns 5,740 shares in the company, valued at approximately $382,054.40. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Craig Conway sold 600 shares of the stock in a transaction that occurred on Thursday, June 15th. The shares were sold at an average price of $66.56, for a total value of $39,936.00. Following the sale, the director now owns 10,347 shares of the company’s stock, valued at approximately $688,696.32. The disclosure for this sale can be found here. In the last quarter, insiders have sold 105,577 shares of company stock valued at $7,486,697. 0.96% of the stock is currently owned by corporate insiders.
A number of large investors have recently made changes to their positions in GWRE. Israel Discount Bank of New York bought a new stake in Guidewire Software during the 1st quarter valued at approximately $104,000. D.A. Davidson & CO. boosted its stake 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 purchasing an additional 1,476 shares during the period. Tower Research Capital LLC TRC boosted its stake 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 purchasing an additional 2,105 shares during the period. The Manufacturers Life Insurance Company boosted its stake 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 purchasing an additional 150 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake 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 purchasing 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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