Guidewire Software’s (GWRE) “Buy” Rating Reaffirmed at Piper Jaffray Companies
Piper Jaffray Companies reissued their buy rating on shares of Guidewire Software, Inc. (NYSE:GWRE) in a research report report published on Sunday. They currently have a $80.00 price objective on the technology company’s stock.
Several other brokerages have also commented on GWRE. Stifel Nicolaus increased their price objective on shares of Guidewire Software from $61.00 to $70.00 and gave the company a hold rating in a research report on Friday, June 2nd. J P Morgan Chase & Co initiated coverage on shares of Guidewire Software in a research report on Tuesday, June 13th. They issued an overweight rating for the company. Zacks Investment Research raised shares of Guidewire Software from a hold rating to a buy rating and set a $78.00 price objective for the company in a research report on Wednesday, July 12th. BidaskClub raised shares of Guidewire Software from a buy rating to a strong-buy rating in a research report on Saturday, August 19th. Finally, KeyCorp reaffirmed a buy rating and issued a $75.00 price objective on shares of Guidewire Software in a research report on Friday. Five research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company. The company has an average rating of Buy and a consensus target price of $75.78.
Guidewire Software (GWRE) traded up 1.91% during trading on Friday, reaching $73.69. 164,810 shares of the company traded hands. Guidewire Software has a 12-month low of $49.18 and a 12-month high of $73.89. The firm has a market capitalization of $5.48 billion, a price-to-earnings ratio of 537.88 and a beta of 1.27. The firm’s 50 day moving average price is $70.96 and its 200 day moving average price is $63.58.
Guidewire Software (NYSE:GWRE) last announced its quarterly earnings data on Thursday, June 1st. The technology company reported $0.16 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.03) by $0.19. The firm had revenue of $123.44 million during the quarter, compared to analyst estimates of $104.55 million. Guidewire Software had a net margin of 2.19% and a return on equity of 1.97%. Guidewire Software’s revenue was up 24.9% on a year-over-year basis. During the same period last year, the firm posted $0.14 EPS. Equities research analysts expect that Guidewire Software will post $0.85 earnings per share for the current year.
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In related news, CFO Richard Hart sold 375 shares of the stock in a transaction that occurred on Monday, June 5th. The shares were sold at an average price of $69.26, for a total value of $25,972.50. Following the transaction, the chief financial officer now owns 3,880 shares in the company, valued at approximately $268,728.80. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Marcus Ryu sold 20,000 shares of the stock in a transaction that occurred on Thursday, June 1st. The stock was sold at an average price of $66.86, for a total transaction of $1,337,200.00. Following the completion of the transaction, the chief executive officer now owns 201,775 shares in the company, valued at approximately $13,490,676.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 105,578 shares of company stock worth $7,282,655. 0.96% of the stock is owned by corporate insiders.
Several large investors have recently modified their holdings of the company. Israel Discount Bank of New York purchased a new stake in shares of Guidewire Software during the first quarter worth approximately $104,000. D.A. Davidson & CO. boosted its stake in shares of Guidewire Software by 2,270.8% in the second quarter. D.A. Davidson & CO. now owns 1,541 shares of the technology company’s stock worth $105,000 after buying an additional 1,476 shares during the last quarter. Tower Research Capital LLC TRC boosted its stake in shares of Guidewire Software by 424.4% in the first quarter. Tower Research Capital LLC TRC now owns 2,601 shares of the technology company’s stock worth $146,000 after buying an additional 2,105 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of Guidewire Software by 7.3% in the second quarter. The Manufacturers Life Insurance Company now owns 2,205 shares of the technology company’s stock worth $151,000 after buying an additional 150 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Guidewire Software by 12.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,536 shares of the technology company’s stock worth $174,000 after buying an additional 283 shares during the last quarter.
Guidewire Software Company Profile
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. The Company’s InsurancePlatform consists of three elements: core transaction processing, data management and analytics, and digital engagement.
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