Guidewire Software, Inc. (NYSE:GWRE) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Friday.

According to Zacks, “Guidewire Software, a property and casualty insurance based software solutions provider, reported better-than-expected fiscal fourth-quarter 2017 results. The impressive top and bottom lines were driven by higher service activities, an additional $16.2 million of hosting revenues from ISCS, which the company acquired in February 2017; and certain early payments from term licenses. Notably, regular customer addition via cross-selling of its product suites is a positive. The company’s shift from term license to a cloud-based model is a tailwind for the company in the long run as the industry shifts toward cloud infrastructure. However, the costs related to the shift will put pressure on margins in the near term and affect the top line as term license revenues include advance payments whereas subscription-based revenues are a bit delayed. Nevertheless, the company’s shares have outperformed the industry on a year-to-date basis.”

Other equities research analysts have also issued research reports about the stock. KeyCorp reaffirmed a “buy” rating and set a $86.00 price target on shares of Guidewire Software in a research report on Friday, September 29th. TheStreet raised shares of Guidewire Software from a “c+” rating to a “b” rating in a research report on Wednesday, September 6th. Stifel Nicolaus upped their price target on shares of Guidewire Software from $70.00 to $75.00 and gave the company a “hold” rating in a research report on Thursday, September 7th. ValuEngine upgraded Guidewire Software from a “sell” rating to a “hold” rating in a research note on Thursday, August 3rd. Finally, BidaskClub downgraded Guidewire Software from a “strong-buy” rating to a “buy” rating in a research note on Friday, August 11th. Five investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $80.11.

Shares of Guidewire Software (NYSE GWRE) traded up 0.38% during trading on Friday, reaching $77.51. 203,697 shares of the company’s stock were exchanged. The stock has a 50-day moving average price of $77.91 and a 200 day moving average price of $70.04. The firm has a market cap of $5.81 billion, a price-to-earnings ratio of 276.82 and a beta of 1.22. Guidewire Software has a 12 month low of $49.18 and a 12 month high of $81.46.

Guidewire Software (NYSE:GWRE) last released its quarterly earnings results on Wednesday, September 6th. The technology company reported $0.59 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.39 by $0.20. Guidewire Software had a net margin of 4.13% and a return on equity of 3.59%. The firm had revenue of $181.10 million during the quarter, compared to analyst estimates of $168.61 million. During the same quarter in the prior year, the firm earned $0.22 EPS. The business’s revenue for the quarter was up 28.3% compared to the same quarter last year. On average, analysts forecast that Guidewire Software will post $0.97 EPS for the current year.

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In other Guidewire Software news, insider Scott Roza sold 782 shares of the company’s stock in a transaction that occurred on Monday, October 16th. The stock was sold at an average price of $78.51, for a total value of $61,394.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Marcus Ryu sold 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $72.34, for a total value of $1,808,500.00. Following the completion of the transaction, 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 sold a total of 114,870 shares of company stock valued at $8,738,930 over the last 90 days. 0.96% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the company. D.A. Davidson & CO. boosted its position in shares of 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 last quarter. The Manufacturers Life Insurance Company boosted its position in shares of 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 last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of 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 last quarter. First Trust Advisors LP bought a new position in shares of Guidewire Software during the 2nd quarter valued at approximately $214,000. Finally, SG Americas Securities LLC boosted its position in shares of Guidewire Software by 28.6% during the 1st quarter. SG Americas Securities LLC now owns 3,814 shares of the technology company’s stock valued at $215,000 after acquiring an additional 848 shares during the last quarter.

Guidewire Software Company Profile

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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