Zacks Investment Research upgraded shares of Guidewire Software, Inc. (NYSE:GWRE) from a hold rating to a strong-buy rating in a research note published on Tuesday morning. The brokerage currently has $92.00 target price on the technology company’s stock.
According to Zacks, “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 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. “
GWRE has been the subject of several other research reports. BidaskClub raised Guidewire Software from a buy rating to a strong-buy rating in a research note on Thursday, August 3rd. UBS AG boosted their target price on Guidewire Software from $72.00 to $77.00 and gave the stock a buy rating in a research note on Friday, June 2nd. Piper Jaffray Companies reissued a buy rating and set a $80.00 target price on shares of Guidewire Software in a research note on Sunday, August 27th. Jefferies Group LLC raised Guidewire Software from a neutral rating to an overweight rating in a research note on Tuesday, June 13th. Finally, TheStreet downgraded Guidewire Software from a b- rating to a c+ rating in a research note on Monday, August 14th. Four analysts have rated the stock with a hold rating, seven have assigned a buy rating and three have assigned a strong buy rating to the company. The company has a consensus rating of Buy and an average price target of $78.89.
Shares of Guidewire Software (GWRE) traded down 0.78% during midday trading on Tuesday, reaching $77.47. 58,523 shares of the company’s stock were exchanged. The company’s 50 day moving average is $73.16 and its 200-day moving average is $65.60. The stock has a market cap of $5.79 billion, a PE ratio of 276.68 and a beta of 1.24. Guidewire Software has a 12 month low of $49.18 and a 12 month high of $81.46.
Guidewire Software (NYSE:GWRE) last issued its earnings results on Wednesday, September 6th. The technology company reported $0.59 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.39 by $0.20. The firm had revenue of $181.10 million during the quarter, compared to the consensus estimate of $168.61 million. Guidewire Software had a return on equity of 3.67% and a net margin of 4.13%. The business’s quarterly revenue was up 28.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.22 earnings per share. Equities analysts forecast that Guidewire Software will post $1.03 EPS for the current fiscal year.
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In related news, insider Scott Roza sold 4,940 shares of the stock in a transaction on Tuesday, June 20th. The stock was sold at an average price of $66.78, for a total value of $329,893.20. Following the completion of the sale, the insider now directly owns 4,367 shares of the company’s stock, valued at approximately $291,628.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Richard Hart sold 375 shares of the stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $75.57, for a total value of $28,338.75. Following the completion of the sale, the chief financial officer now directly owns 3,819 shares of the company’s stock, valued at $288,601.83. The disclosure for this sale can be found here. Insiders have sold a total of 103,988 shares of company stock worth $7,380,615 over the last 90 days. Company insiders own 0.96% of the company’s stock.
Large investors have recently made changes to their positions in the business. Israel Discount Bank of New York bought a new position in Guidewire Software in the 1st quarter valued at $104,000. D.A. Davidson & CO. grew its stake in Guidewire Software by 2,270.8% in the 2nd quarter. D.A. Davidson & CO. now owns 1,541 shares of the technology company’s stock valued at $105,000 after purchasing an additional 1,476 shares during the period. Tower Research Capital LLC TRC grew its stake in Guidewire Software by 424.4% in the 1st quarter. Tower Research Capital LLC TRC now owns 2,601 shares of the technology company’s stock valued at $146,000 after purchasing an additional 2,105 shares during the period. The Manufacturers Life Insurance Company grew its stake in Guidewire Software by 7.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,205 shares of the technology company’s stock valued at $151,000 after purchasing an additional 150 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Guidewire Software by 12.6% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,536 shares of the technology company’s stock valued at $174,000 after purchasing an additional 283 shares during the period.
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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