Guidewire Software Inc (GWRE) Given Hold Rating at JMP Securities
A number of other equities research analysts also recently weighed in on the company. Zacks Investment Research raised Guidewire Software from a sell rating to a hold rating in a report on Thursday, November 3rd. Goldman Sachs Group Inc. began coverage on 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. Deutsche Bank AG reaffirmed a buy rating and issued a $80.00 target price on shares of Guidewire Software in a report on Thursday, September 29th. Bank of America Corp. downgraded Guidewire Software from a neutral rating to an underperform rating and set a $60.00 target price on the stock. in a report on Friday, September 16th. They noted that the move was a valuation call. Finally, TheStreet raised Guidewire Software from a hold rating to a buy rating in a report on Wednesday, September 7th. One analyst has rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the company’s stock. Guidewire Software currently has a consensus rating of Buy and an average target price of $69.38.
Shares of Guidewire Software (NYSE:GWRE) opened at 58.37 on Monday. Guidewire Software has a 12-month low of $42.32 and a 12-month high of $64.78. The company has a 50-day moving average price of $57.79 and a 200-day moving average price of $60.02. The company has a market cap of $4.26 billion and a P/E ratio of 291.85.
Guidewire Software (NYSE:GWRE) last issued its earnings results on Wednesday, September 7th. The company reported $0.39 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.32 by $0.07. The business earned $141.18 million during the quarter, compared to analyst estimates of $136.09 million. The company’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.35 EPS. On average, analysts predict that Guidewire Software will post $0.76 earnings per share for the current year.
In related news, insider Priscilla Hung sold 970 shares of the business’s stock in a transaction dated Tuesday, September 13th. The stock was sold at an average price of $61.52, for a total value of $59,674.40. Following the completion of the sale, the insider now directly owns 345 shares of the company’s stock, valued at approximately $21,224.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel James Winston King sold 561 shares of the business’s stock in a transaction dated Thursday, October 13th. The shares were sold at an average price of $58.47, for a total value of $32,801.67. Following the completion of the sale, the general counsel now directly owns 104 shares of the company’s stock, valued at $6,080.88. The disclosure for this sale can be found here.
A number of hedge funds have recently modified their holdings of 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 worth $408,000 after buying an additional 575 shares during the last quarter. BlueMountain Capital Management LLC bought a new position in Guidewire Software during the first quarter worth about $271,000. Barometer Capital Management Inc. bought a new position in Guidewire Software during the second quarter worth about $531,000. Murphy Capital Management Inc. bought a new position in Guidewire Software during the second quarter worth about $228,000. Finally, IBM Retirement Fund bought a new position in Guidewire Software during the second quarter worth about $451,000.
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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