Guidewire Software (NYSE:GWRE – Get Rating) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a research report issued on Tuesday.
GWRE has been the topic of several other research reports. Stifel Nicolaus decreased their price target on Guidewire Software from $110.00 to $100.00 and set a “hold” rating on the stock in a research note on Monday, March 21st. JMP Securities upgraded Guidewire Software from a “market perform” rating to an “outperform” rating and set a $110.00 price objective for the company in a report on Friday, March 18th. Royal Bank of Canada assumed coverage on Guidewire Software in a report on Tuesday. They issued an “outperform” rating and a $125.00 price objective for the company. DA Davidson lowered their price target on Guidewire Software from $144.00 to $132.00 in a report on Thursday, March 3rd. Finally, BTIG Research lowered their price target on Guidewire Software from $146.00 to $125.00 in a report on Wednesday, March 9th. Two analysts have rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Guidewire Software presently has a consensus rating of “Hold” and an average price target of $117.90.
NYSE GWRE traded up $2.99 during trading on Tuesday, reaching $93.01. 363,074 shares of the company’s stock were exchanged, compared to its average volume of 579,210. Guidewire Software has a fifty-two week low of $81.38 and a fifty-two week high of $130.95. The firm has a market capitalization of $7.77 billion, a PE ratio of -59.62 and a beta of 1.34. The company has a current ratio of 4.66, a quick ratio of 4.66 and a debt-to-equity ratio of 0.24. The company’s fifty day simple moving average is $91.27 and its 200-day simple moving average is $105.79.
Guidewire Software (NYSE:GWRE – Get Rating) last announced its quarterly earnings results on Tuesday, March 8th. The technology company reported ($0.32) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.46) by $0.14. Guidewire Software had a negative return on equity of 6.50% and a negative net margin of 16.97%. The business had revenue of $204.60 million during the quarter, compared to analyst estimates of $197.47 million. During the same period in the previous year, the company earned ($0.16) EPS. The firm’s revenue was up 13.6% on a year-over-year basis. Equities analysts forecast that Guidewire Software will post -1.94 EPS for the current fiscal year.
In other Guidewire Software news, CEO Michael George Rosenbaum sold 3,806 shares of the business’s stock in a transaction that occurred on Thursday, March 17th. The stock was sold at an average price of $87.92, for a total transaction of $334,623.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Priscilla Hung sold 1,679 shares of the business’s stock in a transaction that occurred on Thursday, March 17th. The stock was sold at an average price of $87.92, for a total value of $147,617.68. The disclosure for this sale can be found here. Insiders sold a total of 7,444 shares of company stock valued at $654,255 over the last ninety days. 0.17% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently bought and sold shares of GWRE. Stephens Inc. AR boosted its holdings in shares of Guidewire Software by 11.3% in the third quarter. Stephens Inc. AR now owns 1,916 shares of the technology company’s stock worth $228,000 after acquiring an additional 195 shares during the period. State of New Jersey Common Pension Fund D raised its position in shares of Guidewire Software by 5.2% in the third quarter. State of New Jersey Common Pension Fund D now owns 45,902 shares of the technology company’s stock worth $5,456,000 after buying an additional 2,268 shares in the last quarter. Signaturefd LLC raised its position in Guidewire Software by 47.6% during the third quarter. Signaturefd LLC now owns 338 shares of the technology company’s stock valued at $40,000 after purchasing an additional 109 shares in the last quarter. M&T Bank Corp raised its position in Guidewire Software by 2.2% during the third quarter. M&T Bank Corp now owns 4,379 shares of the technology company’s stock valued at $521,000 after purchasing an additional 95 shares in the last quarter. Finally, Janney Montgomery Scott LLC raised its position in Guidewire Software by 4.5% during the third quarter. Janney Montgomery Scott LLC now owns 14,023 shares of the technology company’s stock valued at $1,667,000 after purchasing an additional 601 shares in the last quarter.
Guidewire Software Company Profile (Get Rating)
Guidewire Software, Inc provides software products for property and casualty insurers worldwide. The company offers Guidewire InsuranceSuite comprising Guidewire PolicyCenter, BillingCenter, and ClaimCenter applications. It also provides Guidewire InsuranceNow, a cloud-based platform that offers policy, billing, and claims management functionality to insurers; and Guidewire InsuranceSuite for Self-Managed.
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