Guidewire Software Inc (GWRE) Announces Earnings Results, Beats Estimates By $0.07 EPS
Guidewire Software Inc (NYSE:GWRE) posted its quarterly earnings results on Tuesday. The company reported $0.02 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.05) by $0.07. The firm earned $94.10 million during the quarter, compared to analyst estimates of $87.17 million. The firm’s revenue for the quarter was up 14.3% on a year-over-year basis. During the same quarter last year, the business posted $0.07 earnings per share. Guidewire Software updated its Q2 guidance to $0.12-0.15 EPS and its FY17 guidance to $0.70-0.79 EPS.
Shares of Guidewire Software (NYSE:GWRE) traded down 1.40% during midday trading on Tuesday, reaching $57.55. The company had a trading volume of 513,955 shares. Guidewire Software has a 12 month low of $42.32 and a 12 month high of $64.78. The firm’s 50 day moving average price is $57.79 and its 200-day moving average price is $60.02. The company has a market capitalization of $4.21 billion and a P/E ratio of 287.75.
In related news, General Counsel James Winston King sold 564 shares of the company’s stock in a transaction dated Tuesday, September 13th. The shares were sold at an average price of $61.45, for a total value of $34,657.80. Following the sale, the general counsel now owns 104 shares of the company’s stock, valued at $6,390.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Priscilla Hung sold 970 shares of the company’s stock in a transaction dated Tuesday, September 13th. The shares were sold at an average price of $61.52, for a total transaction of $59,674.40. Following the completion of the sale, the insider now directly owns 345 shares in the company, valued at approximately $21,224.40. The disclosure for this sale can be found here.
Hedge funds have recently bought and sold shares of the stock. Pacer Advisors Inc. acquired a new stake in Guidewire Software during the second quarter worth $124,000. The Manufacturers Life Insurance Company purchased a new stake in shares of Guidewire Software during the third quarter valued at $123,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Guidewire Software by 14.3% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,253 shares of the company’s stock valued at $135,000 after buying an additional 282 shares in the last quarter. Jane Street Group LLC purchased a new stake in shares of Guidewire Software during the second quarter valued at $377,000. Finally, KCG Holdings Inc. purchased a new stake in shares of Guidewire Software during the third quarter valued at $382,000.
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A number of equities analysts have issued reports on the stock. Deutsche Bank AG reissued a “buy” rating on shares of Guidewire Software 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. Zacks Investment Research cut shares of Guidewire Software from a “strong-buy” rating to a “hold” rating in a report on Thursday, September 8th. JMP Securities reissued a “hold” rating on shares of Guidewire Software in a report on Thursday, September 8th. Finally, Goldman Sachs Group Inc. assumed coverage on shares of Guidewire Software in a report on Tuesday, October 4th. They issued a “neutral” rating and a $57.00 target price on the stock. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $69.38.
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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