Guidewire Software Inc (GWRE) Updates Q2 Earnings Guidance
Guidewire Software Inc (NYSE:GWRE) updated its second quarter earnings guidance on Tuesday. The company provided earnings per share guidance of $0.12-0.15 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.20. The company issued revenue guidance of $106-110 million, compared to the consensus revenue estimate of $115.03 million.Guidewire Software also updated its FY17 guidance to $0.70-0.79 EPS.
Several analysts have weighed in on the company. JPMorgan Chase & Co. boosted their price objective on Guidewire Software from $68.00 to $78.00 and gave the stock an overweight rating in a report on Thursday, September 8th. TheStreet raised Guidewire Software from a hold rating to a buy rating in a research note on Wednesday, September 7th. Deutsche Bank AG reaffirmed a buy rating on shares of Guidewire Software in a research note on Thursday, September 8th. Zacks Investment Research cut Guidewire Software from a strong-buy rating to a hold rating in a research note on Thursday, September 8th. Finally, JMP Securities reaffirmed a hold rating on shares of Guidewire Software in a research note on Thursday, September 8th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the stock. Guidewire Software currently has an average rating of Buy and an average target price of $69.38.
Shares of Guidewire Software Inc (NYSE:GWRE) opened at 57.55 on Wednesday. The company has a market capitalization of $4.21 billion and a PE ratio of 287.75. Guidewire Software Inc has a 1-year low of $42.32 and a 1-year high of $64.78. The company’s 50-day moving average price is $57.79 and its 200-day moving average price is $60.02.
Guidewire Software (NYSE:GWRE) last announced its quarterly earnings results on Tuesday, November 29th. The company reported $0.02 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.05) by $0.07. The firm had revenue of $94.10 million for the quarter, compared to analyst estimates of $87.17 million. During the same period in the previous year, the business posted $0.07 earnings per share. The business’s revenue for the quarter was up 14.3% compared to the same quarter last year. On average, equities analysts expect that Guidewire Software Inc will post $0.76 earnings per share for the current fiscal year.
In other news, General Counsel James Winston King sold 564 shares of Guidewire Software stock in a transaction dated Tuesday, September 13th. The stock was sold at an average price of $61.45, for a total transaction of $34,657.80. Following the sale, the general counsel now directly owns 104 shares of the company’s stock, valued at $6,390.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Scott Roza sold 781 shares of Guidewire Software stock in a transaction dated Tuesday, November 15th. The shares were sold at an average price of $56.16, for a total value of $43,860.96. Following the sale, the insider now directly owns 982 shares in the company, valued at $55,149.12. The disclosure for this sale can be found here.
Hedge funds have recently made changes to their positions in the stock. Dimensional Fund Advisors LP raised its position in Guidewire Software by 2.7% in the second quarter. Dimensional Fund Advisors LP now owns 193,121 shares of the company’s stock worth $11,926,000 after buying an additional 5,109 shares in the last quarter. Principal Financial Group Inc. raised its position in Guidewire Software by 84.4% in the second quarter. Principal Financial Group Inc. now owns 17,299 shares of the company’s stock worth $1,068,000 after buying an additional 7,916 shares in the last quarter. BlackRock Inc. raised its position in Guidewire Software by 88.7% in the second quarter. BlackRock Inc. now owns 9,300 shares of the company’s stock worth $574,000 after buying an additional 4,371 shares in the last quarter. BlackRock Group LTD raised its position in Guidewire Software by 69.3% in the second quarter. BlackRock Group LTD now owns 79,353 shares of the company’s stock worth $4,901,000 after buying an additional 32,493 shares in the last quarter. Finally, BlackRock Institutional Trust Company N.A. raised its position in Guidewire Software by 1.9% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 1,766,910 shares of the company’s stock worth $109,124,000 after buying an additional 32,933 shares in the last quarter.
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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