Zacks Investment Research upgraded shares of Guidewire Software, Inc. (NYSE:GWRE) from a hold rating to a buy rating in a research report sent to investors on Wednesday morning. Zacks Investment Research currently has $78.00 price objective on the technology company’s stock.
According to Zacks, “Guidewire Software, Inc., incorporated on September 20, 2001, 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 Insurance Platform consists of three elements: core transaction processing, data management and analytics, and digital engagement. The Company sells its products to a range of global P&C insurance carriers ranging from global insurers to national carriers to regional carriers. It’s core transaction processing includes Guidewire InsuranceSuite, Guidewire PolicyCenter, Guidewire ClaimCenter, Guidewire BillingCenter and InsuranceSuite Add-on Modules. The Company’s data management and analytics includes Guidewire DataHub, Guidewire InfoCenter, Guidewire Live and Guidewire Predictive Analytics. “
Other equities research analysts also recently issued research reports about the company. UBS AG boosted their price objective on Guidewire Software from $72.00 to $77.00 and gave the company a buy rating in a report on Friday, June 2nd. J P Morgan Chase & Co assumed coverage on Guidewire Software in a report on Tuesday, June 13th. They issued an overweight rating on the stock. Bank of America Corporation reiterated a neutral rating and issued a $74.00 price objective (up previously from $68.00) on shares of Guidewire Software in a report on Saturday, June 3rd. ValuEngine upgraded Guidewire Software from a sell rating to a hold rating in a report on Friday, June 2nd. Finally, Piper Jaffray Companies raised Guidewire Software from a neutral rating to an overweight rating and upped their price objective for the stock from $70.00 to $75.00 in a research report on Tuesday, June 13th. Four research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of Buy and a consensus target price of $75.25.
Guidewire Software (NYSE:GWRE) traded up 0.78% during mid-day trading on Wednesday, reaching $70.95. The company’s stock had a trading volume of 549,302 shares. Guidewire Software has a 12-month low of $49.18 and a 12-month high of $71.22. The stock has a market cap of $5.28 billion, a price-to-earnings ratio of 517.88 and a beta of 1.26. The firm’s 50 day moving average price is $66.39 and its 200 day moving average price is $58.34.
Guidewire Software (NYSE:GWRE) last announced its quarterly earnings results on Thursday, June 1st. The technology company reported $0.16 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.03) by $0.19. Guidewire Software had a return on equity of 1.97% and a net margin of 2.19%. The business had revenue of $123.44 million for the quarter, compared to analyst estimates of $104.55 million. During the same quarter in the prior year, the company posted $0.14 EPS. The company’s quarterly revenue was up 24.9% on a year-over-year basis. On average, equities analysts predict that Guidewire Software will post $0.85 earnings per share for the current year.
In other Guidewire Software news, CEO Marcus Ryu sold 20,000 shares of the firm’s stock in a transaction dated Monday, May 1st. The stock was sold at an average price of $61.00, for a total value of $1,220,000.00. Following the transaction, the chief executive officer now directly owns 20,336 shares of the company’s stock, valued at $1,240,496. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Ali Kheirolomoom sold 9,562 shares of the firm’s stock in a transaction dated Thursday, May 25th. The shares were sold at an average price of $65.00, for a total value of $621,530.00. Following the completion of the transaction, the insider now directly owns 5,585 shares in the company, valued at $363,025. The disclosure for this sale can be found here. Insiders have sold 117,889 shares of company stock worth $7,761,907 in the last 90 days. Insiders own 0.96% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. Quadrature Capital Ltd acquired a new stake in shares of Guidewire Software during the fourth quarter worth about $905,000. State Street Corp raised its stake in shares of Guidewire Software by 1.9% in the fourth quarter. State Street Corp now owns 920,555 shares of the technology company’s stock worth $45,408,000 after buying an additional 17,084 shares during the last quarter. Brown Capital Management LLC raised its stake in shares of Guidewire Software by 3.1% in the first quarter. Brown Capital Management LLC now owns 4,246,662 shares of the technology company’s stock worth $239,214,000 after buying an additional 126,719 shares during the last quarter. Pacer Advisors Inc. raised its stake in shares of Guidewire Software by 9.5% in the first quarter. Pacer Advisors Inc. now owns 8,100 shares of the technology company’s stock worth $456,000 after buying an additional 703 shares during the last quarter. Finally, Bank of Montreal Can raised its stake in shares of Guidewire Software by 1,389.7% in the first quarter. Bank of Montreal Can now owns 58,618 shares of the technology company’s stock worth $3,302,000 after buying an additional 54,683 shares during the last quarter.
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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