Deutsche Bank AG Reiterates “Buy” Rating for Guidewire Software, Inc. (GWRE)
Guidewire Software, Inc. (NYSE:GWRE)‘s stock had its “buy” rating reiterated by Deutsche Bank AG in a research note issued to investors on Monday. They presently have a $85.00 price target on the technology company’s stock, up from their previous price target of $80.00. Deutsche Bank AG’s price target points to a potential upside of 9.51% from the stock’s previous close.
Other research analysts have also issued research reports about the company. Piper Jaffray Companies reaffirmed a “buy” rating and set a $80.00 price objective on shares of Guidewire Software in a research report on Sunday, August 27th. BidaskClub raised Guidewire Software from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 19th. TheStreet cut Guidewire Software from a “b-” rating to a “c+” rating in a research note on Monday, August 14th. Bank of America Corporation raised their price target on Guidewire Software from $74.00 to $76.00 and gave the company a “neutral” rating in a report on Thursday, September 7th. Finally, Zacks Investment Research upgraded Guidewire Software from a “hold” rating to a “strong-buy” rating and set a $92.00 price target for the company in a report on Tuesday, September 12th. Four analysts have rated the stock with a hold rating, seven have issued a buy rating and three have given a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $80.67.
Shares of Guidewire Software (GWRE) opened at 77.62 on Monday. The firm has a market cap of $5.82 billion, a P/E ratio of 277.21 and a beta of 1.22. The company has a 50-day moving average of $75.69 and a 200 day moving average of $67.68. Guidewire Software has a 52-week low of $49.18 and a 52-week high of $81.46.
Guidewire Software (NYSE:GWRE) last released its earnings results on Wednesday, September 6th. The technology company reported $0.59 EPS for the quarter, beating the Zacks’ consensus estimate of $0.39 by $0.20. Guidewire Software had a return on equity of 3.59% and a net margin of 4.13%. The company had revenue of $181.10 million during the quarter, compared to analysts’ expectations of $168.61 million. During the same quarter last year, the business posted $0.22 EPS. The firm’s revenue for the quarter was up 28.3% compared to the same quarter last year. On average, equities analysts expect that Guidewire Software will post $1.03 earnings per share for the current year.
In other Guidewire Software news, insider Scott Roza sold 782 shares of the business’s stock in a transaction dated Monday, July 17th. The stock was sold at an average price of $70.39, for a total transaction of $55,044.98. Following the completion of the sale, the insider now directly owns 1,383 shares in the company, valued at approximately $97,349.37. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Marcus Ryu sold 25,000 shares of the business’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $78.56, for a total value of $1,964,000.00. Following the sale, the chief executive officer now owns 149,678 shares of the company’s stock, valued at $11,758,703.68. The disclosure for this sale can be found here. Insiders have sold a total of 124,815 shares of company stock worth $9,415,802 in the last 90 days. Company insiders own 0.96% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of the stock. D.A. Davidson & CO. grew its position in Guidewire Software by 2,270.8% during the second quarter. D.A. Davidson & CO. now owns 1,541 shares of the technology company’s stock valued at $105,000 after buying an additional 1,476 shares during the period. The Manufacturers Life Insurance Company raised its position in 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 acquiring an additional 150 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its position in 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 acquiring an additional 283 shares during the period. Tower Research Capital LLC TRC raised its position in 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 acquiring an additional 2,105 shares during the period. Finally, First Trust Advisors LP bought a new position in Guidewire Software in the second quarter worth approximately $214,000.
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. The Company’s InsurancePlatform consists of three elements: core transaction processing, data management and analytics, and digital engagement.
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