Zacks Investment Research cut shares of Guidewire Software Inc (NYSE:GWRE) from a hold rating to a sell rating in a report issued on Tuesday.

According to Zacks, “Guidewire Software Inc. provides core systems to the insurance industry. Its core system suite spans the entire property/casualty insurance lifecycle like underwriting, policy administration, billing, claims, and reinsurance management. Guidewire Software Inc. is headquartered in San Mateo, California. “

Other equities research analysts have also issued research reports about the stock. Deutsche Bank AG reissued a buy rating on shares of Guidewire Software in a report on Monday, August 1st. JPMorgan Chase & Co. raised their price target on shares of Guidewire Software from $68.00 to $78.00 and gave the stock an overweight rating in a report on Thursday, September 8th. TheStreet raised shares of Guidewire Software from a hold rating to a buy rating in a report on Wednesday, September 7th. JMP Securities reissued a hold rating on shares of Guidewire Software in a report on Thursday, September 8th. Finally, Goldman Sachs Group Inc. began coverage on shares of Guidewire Software in a report on Tuesday, October 4th. They issued a neutral rating and a $57.00 price target on the stock. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the company. The stock currently has a consensus rating of Hold and a consensus target price of $69.38.

Analyst Recommendations for Guidewire Software (NYSE:GWRE)

Shares of Guidewire Software (NYSE:GWRE) opened at 58.49 on Tuesday. Guidewire Software has a 52-week low of $42.32 and a 52-week high of $64.78. The firm has a market capitalization of $4.27 billion and a P/E ratio of 292.45. The stock has a 50 day moving average of $60.88 and a 200-day moving average of $59.45.

Guidewire Software (NYSE:GWRE) last announced its quarterly earnings results on Wednesday, September 7th. The company reported $0.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.07. The firm earned $141.18 million during the quarter, compared to the consensus estimate of $136.09 million. Guidewire Software’s revenue was up 12.1% on a year-over-year basis. During the same period last year, the business earned $0.35 EPS. Equities analysts expect that Guidewire Software will post $0.76 earnings per share for the current fiscal year.

In related news, insider Scott Roza sold 781 shares of the business’s stock in a transaction that occurred on Friday, July 15th. The shares were sold at an average price of $63.30, for a total transaction of $49,437.30. Following the completion of the sale, the insider now directly owns 982 shares in the company, valued at $62,160.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel James Winston King sold 562 shares of the business’s stock in a transaction that occurred on Monday, August 15th. The shares were sold at an average price of $62.05, for a total transaction of $34,872.10. Following the sale, the general counsel now owns 104 shares of the company’s stock, valued at $6,453.20. The disclosure for this sale can be found here.

A number of hedge funds have recently made changes to their positions in GWRE. Prudential Financial Inc. raised its stake in shares of Guidewire Software by 8.3% in the first quarter. Prudential Financial Inc. now owns 7,495 shares of the company’s stock valued at $408,000 after buying an additional 575 shares during the period. BlackRock Inc. raised its stake in shares of Guidewire Software by 113.7% in the first quarter. BlackRock Inc. now owns 4,929 shares of the company’s stock valued at $269,000 after buying an additional 2,623 shares during the period. BlackRock Group LTD raised its stake in shares of Guidewire Software by 24.2% in the first quarter. BlackRock Group LTD now owns 46,860 shares of the company’s stock valued at $2,552,000 after buying an additional 9,137 shares during the period. BlackRock Institutional Trust Company N.A. raised its stake in shares of Guidewire Software by 0.4% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,733,977 shares of the company’s stock valued at $94,467,000 after buying an additional 7,207 shares during the period. Finally, State Street Corp raised its stake in shares of Guidewire Software by 2.7% in the first quarter. State Street Corp now owns 1,273,842 shares of the company’s stock valued at $69,403,000 after buying an additional 33,481 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. Its platform consists of three products: core transaction processing, data management and analytics, and digital engagement.

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