BidaskClub Downgrades Guidewire Software, Inc. (GWRE) to Buy
Guidewire Software, Inc. (NYSE:GWRE) was downgraded by investment analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a research report issued on Wednesday.
GWRE has been the subject of several other research reports. Piper Jaffray Companies reissued a “buy” rating and issued a $80.00 target price on shares of Guidewire Software in a research note on Sunday, August 27th. Zacks Investment Research downgraded shares of Guidewire Software from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 11th. TheStreet downgraded shares of Guidewire Software from a “b-” rating to a “c+” rating in a research note on Monday, August 14th. Bank of America Corporation boosted their target price on shares of Guidewire Software from $74.00 to $76.00 and gave the company a “neutral” rating in a research note on Thursday, September 7th. Finally, Deutsche Bank AG reissued a “buy” rating and issued a $85.00 target price (up previously from $80.00) on shares of Guidewire Software in a research note on Monday, October 2nd. Four equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $80.22.
Shares of Guidewire Software (GWRE) opened at 77.39 on Wednesday. The stock has a 50 day moving average of $77.72 and a 200-day moving average of $69.39. The firm has a market capitalization of $5.80 billion, a PE ratio of 276.39 and a beta of 1.22. Guidewire Software has a 12 month low of $49.18 and a 12 month high of $81.46.
Guidewire Software (NYSE:GWRE) last released its quarterly earnings data on Wednesday, September 6th. The technology company reported $0.59 EPS for the quarter, topping the consensus estimate of $0.39 by $0.20. Guidewire Software had a net margin of 4.13% and a return on equity of 3.59%. The business had revenue of $181.10 million for the quarter, compared to analyst estimates of $168.61 million. During the same period in the previous year, the firm earned $0.22 EPS. The business’s revenue for the quarter was up 28.3% compared to the same quarter last year. On average, equities research analysts anticipate that Guidewire Software will post $0.98 EPS for the current fiscal year.
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In other news, Director Craig Conway sold 600 shares of the company’s stock in a transaction dated Monday, October 16th. The shares were sold at an average price of $78.51, for a total transaction of $47,106.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Scott Roza sold 781 shares of the company’s stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $70.33, for a total transaction of $54,927.73. Following the transaction, the insider now directly owns 998 shares of the company’s stock, valued at approximately $70,189.34. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 114,870 shares of company stock valued at $8,738,930. Corporate insiders own 0.96% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of GWRE. BlackRock Inc. increased its stake in shares of Guidewire Software by 33,371.0% during the 1st quarter. BlackRock Inc. now owns 3,071,300 shares of the technology company’s stock valued at $173,006,000 after acquiring an additional 3,062,124 shares during the last quarter. Janus Henderson Group PLC acquired a new position in shares of Guidewire Software during the 2nd quarter valued at about $113,628,000. Harbour Capital Advisors LLC acquired a new position in shares of Guidewire Software during the 2nd quarter valued at about $6,700,000. Wasatch Advisors Inc. acquired a new position in shares of Guidewire Software during the 2nd quarter valued at about $28,037,000. Finally, Goldman Sachs Group Inc. increased its stake in shares of Guidewire Software by 49.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 988,047 shares of the technology company’s stock valued at $55,656,000 after acquiring an additional 329,005 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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