Wall Street analysts expect Guidewire Software Inc (NYSE:GWRE) to post sales of $208.40 million for the current fiscal quarter, according to Zacks Investment Research. Four analysts have provided estimates for Guidewire Software’s earnings, with estimates ranging from $206.37 million to $211.97 million. Guidewire Software reported sales of $207.86 million in the same quarter last year, which would suggest a positive year over year growth rate of 0.3%. The business is scheduled to issue its next earnings results on Thursday, September 3rd.
According to Zacks, analysts expect that Guidewire Software will report full year sales of $707.05 million for the current financial year, with estimates ranging from $705.00 million to $710.60 million. For the next fiscal year, analysts expect that the business will post sales of $783.51 million, with estimates ranging from $774.70 million to $797.09 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Guidewire Software.
Guidewire Software (NYSE:GWRE) last issued its quarterly earnings data on Wednesday, June 3rd. The technology company reported $0.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.14. Guidewire Software had a positive return on equity of 0.02% and a negative net margin of 6.08%. The business had revenue of $168.17 million during the quarter, compared to analyst estimates of $151.49 million. During the same period in the prior year, the company posted $0.18 EPS. The business’s revenue for the quarter was up 3.3% compared to the same quarter last year.
A number of research firms have weighed in on GWRE. ValuEngine upgraded Guidewire Software from a “hold” rating to a “buy” rating in a research report on Monday, March 9th. BTIG Research upped their target price on Guidewire Software from $100.00 to $130.00 and gave the stock a “buy” rating in a research report on Thursday, June 4th. Robert W. Baird downgraded Guidewire Software from an “outperform” rating to a “neutral” rating and upped their target price for the stock from $91.00 to $97.00 in a research report on Wednesday, April 29th. Goldman Sachs Group upped their target price on Guidewire Software from $128.00 to $129.00 in a research report on Monday. Finally, Guggenheim downgraded Guidewire Software from a “buy” rating to a “neutral” rating in a research report on Friday, April 17th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $116.09.
In other news, insider Steven P. Sherry sold 3,041 shares of the company’s stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $106.86, for a total value of $324,961.26. Following the transaction, the insider now directly owns 414 shares of the company’s stock, valued at $44,240.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Marcus Ryu sold 19,898 shares of the company’s stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $106.87, for a total transaction of $2,126,499.26. Following the completion of the transaction, the director now directly owns 24,045 shares in the company, valued at $2,569,689.15. The disclosure for this sale can be found here. Insiders sold 62,392 shares of company stock worth $6,293,136 over the last ninety days. 0.37% of the stock is currently owned by company insiders.
Institutional investors have recently bought and sold shares of the business. APG Asset Management N.V. increased its position in Guidewire Software by 80.6% during the first quarter. APG Asset Management N.V. now owns 102,776 shares of the technology company’s stock worth $8,151,000 after buying an additional 45,876 shares during the last quarter. Brinker Capital Inc. increased its position in Guidewire Software by 12.5% during the fourth quarter. Brinker Capital Inc. now owns 21,037 shares of the technology company’s stock worth $2,309,000 after buying an additional 2,333 shares during the last quarter. Pictet Asset Management Ltd. bought a new stake in Guidewire Software during the fourth quarter valued at about $2,953,000. Alliancebernstein L.P. boosted its holdings in Guidewire Software by 2.7% during the fourth quarter. Alliancebernstein L.P. now owns 50,141 shares of the technology company’s stock valued at $5,504,000 after acquiring an additional 1,303 shares during the period. Finally, Norges Bank bought a new stake in Guidewire Software during the fourth quarter valued at about $64,292,000.
Shares of GWRE stock opened at $109.15 on Tuesday. Guidewire Software has a 12-month low of $71.64 and a 12-month high of $124.16. The firm has a market capitalization of $9.20 billion, a price-to-earnings ratio of -214.02 and a beta of 1.26. The business has a 50 day simple moving average of $102.52 and a 200 day simple moving average of $101.12. The company has a debt-to-equity ratio of 0.27, a current ratio of 6.93 and a quick ratio of 6.93.
About Guidewire Software
Guidewire Software, Inc provides software products for property and casualty insurers worldwide. The company offers Guidewire InsuranceSuite comprising Guidewire PolicyCenter, BillingCenter, and ClaimCenter applications. It also provides Guidewire InsuranceNow, a cloud-based platform, which offers policy, billing, and claims management functionality to insurers that prefer to subscribe to a cloud-based solution.
Read More: How does quantitative easing work?
Get a free copy of the Zacks research report on Guidewire Software (GWRE)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Guidewire Software Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Guidewire Software and related companies with MarketBeat.com's FREE daily email newsletter.