Guidewire Software Inc (GWRE) Downgraded to “Sell” at Zacks Investment Research
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.
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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