Guidewire Software Inc (NYSE:GWRE) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Tuesday.
According to Zacks, “Guidewire Software Inc. provides core systems to the insurance industry. Its core system suite spans the entire property/casualty insurance lifecycle like underwriting, policy administration, billing, claims, and reinsurance management. Guidewire Software Inc. is headquartered in San Mateo, California. “
Several other research analysts also recently weighed in on GWRE. JPMorgan Chase & Co. upped their target price on shares of Guidewire Software from $68.00 to $78.00 and gave the company an “overweight” rating in a research note on Thursday, September 8th. Deutsche Bank AG reiterated a “buy” rating on shares of Guidewire Software in a research note on Thursday, September 8th. JMP Securities reiterated a “hold” rating on shares of Guidewire Software in a research note on Thursday, September 8th. Goldman Sachs Group Inc. initiated coverage on shares of Guidewire Software in a research note on Tuesday, October 4th. They set a “neutral” rating and a $57.00 price objective on the stock. They noted that the move was a valuation call. Finally, TheStreet upgraded shares of Guidewire Software from a “hold” rating to a “buy” rating in a research note on Wednesday, September 7th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the company. Guidewire Software has a consensus rating of “Hold” and a consensus price target of $69.38.
Guidewire Software (NYSE:GWRE) traded down 3.02% during trading on Tuesday, hitting $58.49. 292,053 shares of the company were exchanged. The company has a 50-day moving average of $60.88 and a 200-day moving average of $59.45. The company has a market capitalization of $4.27 billion and a price-to-earnings ratio of 292.45. Guidewire Software has a 12 month low of $42.32 and a 12 month high of $64.78.
Guidewire Software (NYSE:GWRE) last announced its earnings results on Wednesday, September 7th. The company reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.07. The firm earned $141.18 million during the quarter, compared to analysts’ expectations of $136.09 million. Guidewire Software’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.35 earnings per share. Analysts forecast that Guidewire Software will post $0.76 EPS for the current year.
In related news, CEO Marcus Ryu sold 20,000 shares of the stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $61.45, for a total value of $1,229,000.00. Following the sale, the chief executive officer now owns 20,000 shares of the company’s stock, valued at approximately $1,229,000. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Priscilla Hung sold 968 shares of the stock in a transaction dated Wednesday, July 13th. The stock was sold at an average price of $64.00, for a total transaction of $61,952.00. Following the completion of the sale, the insider now directly owns 345 shares in the company, valued at approximately $22,080. The disclosure for this sale can be found here.
Several hedge funds have recently added to or reduced their stakes in GWRE. Conestoga Capital Advisors LLC boosted its stake in Guidewire Software by 25.7% in the third quarter. Conestoga Capital Advisors LLC now owns 8,560 shares of the company’s stock worth $513,000 after buying an additional 1,750 shares during the period. Public Employees Retirement System of Ohio boosted its stake in Guidewire Software by 163.9% in the second quarter. Public Employees Retirement System of Ohio now owns 66,270 shares of the company’s stock worth $4,093,000 after buying an additional 41,161 shares during the period. Sterling Capital Management LLC boosted its stake in Guidewire Software by 12.3% in the second quarter. Sterling Capital Management LLC now owns 57,426 shares of the company’s stock worth $3,547,000 after buying an additional 6,295 shares during the period. Calvert Investment Management Inc. purchased a new stake in Guidewire Software during the second quarter worth $235,000. Finally, Stifel Financial Corp boosted its stake in Guidewire Software by 1.2% in the second quarter. Stifel Financial Corp now owns 5,044 shares of the company’s stock worth $312,000 after buying an additional 58 shares during the period.
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. Its platform consists of three products: core transaction processing, data management and analytics, and digital engagement.
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