Guidewire Software Inc (GWRE) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Guidewire Software Inc (NYSE:GWRE) have received an average recommendation of “Hold” from the eleven research firms that are currently covering the firm. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $68.86.

A number of research firms have recently issued reports on GWRE. Zacks Investment Research lowered Guidewire Software from a “hold” rating to a “sell” rating in a report on Tuesday, October 11th. Goldman Sachs Group Inc. started coverage on Guidewire Software in a report 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. Deutsche Bank AG reaffirmed a “buy” rating and set a $80.00 price objective on shares of Guidewire Software in a report on Thursday, September 29th. Bank of America Corp. lowered Guidewire Software from a “neutral” rating to an “underperform” rating and set a $60.00 price objective on the stock. in a report on Friday, September 16th. They noted that the move was a valuation call. Finally, JMP Securities reaffirmed a “hold” rating on shares of Guidewire Software in a report on Thursday, September 8th.

In other news, General Counsel James Winston King sold 561 shares of the company’s stock in a transaction on Thursday, October 13th. The stock was sold at an average price of $58.47, for a total value of $32,801.67. Following the sale, the general counsel now directly owns 104 shares in the company, valued at $6,080.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Marcus Ryu sold 20,000 shares of the company’s stock in a transaction on 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 completion of the sale, the chief executive officer now owns 20,000 shares in the company, valued at $1,229,000. The disclosure for this sale can be found here.

Several hedge funds have recently modified their holdings of GWRE. State Street Corp increased its stake in shares of Guidewire Software by 2.7% in the first quarter. State Street Corp now owns 1,273,842 shares of the company’s stock valued at $69,403,000 after buying an additional 33,481 shares in the last quarter. Emerald Advisers Inc. PA increased its stake in shares of Guidewire Software by 0.6% in the second quarter. Emerald Advisers Inc. PA now owns 226,950 shares of the company’s stock valued at $14,016,000 after buying an additional 1,340 shares in the last quarter. Public Employees Retirement Association of Colorado increased its stake in shares of Guidewire Software by 1.3% in the second quarter. Public Employees Retirement Association of Colorado now owns 174,641 shares of the company’s stock valued at $10,786,000 after buying an additional 2,322 shares in the last quarter. Wellington Management Group LLP increased its position in Guidewire Software by 44.0% in the first quarter. Wellington Management Group LLP now owns 4,266,255 shares of the company’s stock valued at $232,425,000 after buying an additional 1,304,174 shares during the period. Finally, Goldman Sachs Group Inc. increased its position in Guidewire Software by 30.3% in the first quarter. Goldman Sachs Group Inc. now owns 658,463 shares of the company’s stock valued at $35,873,000 after buying an additional 153,049 shares during the period.

Shares of Guidewire Software (NYSE:GWRE) traded up 1.35% on Tuesday, reaching $58.65. The company’s stock had a trading volume of 143,338 shares. The company has a 50 day moving average of $60.39 and a 200 day moving average of $59.57. The stock has a market capitalization of $4.29 billion and a P/E ratio of 293.25. Guidewire Software has a 1-year low of $42.32 and a 1-year high of $64.78.

Guidewire Software (NYSE:GWRE) last released its earnings results on Wednesday, September 7th. The company reported $0.39 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.32 by $0.07. The company earned $141.18 million during the quarter, compared to analyst estimates of $136.09 million. The company’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.35 EPS. Equities research analysts expect that Guidewire Software will post $0.76 earnings per share for the current fiscal year.

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. Its platform consists of three products: core transaction processing, data management and analytics, and digital engagement.

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