Guidewire Software (NYSE:GWRE) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Tuesday.
According to Zacks, “Guidewire Software is a provider of software solutions for property and casualty (P&C) insurers. Shares of the company have outperformed the industry over the past one year. The company’s strategic partnership with Salesforce is expected to be a positive. Additionally, the company’s recent acquisition of Cyence is anticipated to enhance its product suite. Also, Guidewire’s cloud deployment partner, Amazon’s Web Services is also gaining momentum and this bodes well for it. However, the company is transforming to a subscription based model from a term license based one, which might hurt the top line in the near term. This is because the costs related to the shift will put pressure on margins in the near term and affect the top line as term license revenues include advance payments whereas subscription-based revenues are a bit delayed.”
Several other analysts also recently issued reports on the company. Citigroup reiterated a “buy” rating and issued a $85.00 price target (up from $79.00) on shares of Guidewire Software in a report on Thursday, September 7th. Bank of America raised their target price on Guidewire Software from $74.00 to $76.00 and gave the company a “neutral” rating in a research note on Thursday, September 7th. Stifel Nicolaus raised their target price on Guidewire Software from $70.00 to $75.00 and gave the company a “hold” rating in a research note on Thursday, September 7th. TheStreet downgraded Guidewire Software from a “b” rating to a “c+” rating in a research note on Wednesday, November 29th. Finally, Deutsche Bank restated a “buy” rating and set a $85.00 target price on shares of Guidewire Software in a research note on Thursday, November 30th. Four research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $80.11.
Guidewire Software (NYSE:GWRE) last announced its quarterly earnings results on Wednesday, November 29th. The technology company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.10). Guidewire Software had a net margin of 3.82% and a return on equity of 3.29%. The company had revenue of $108.20 million during the quarter, compared to analyst estimates of $100.61 million. During the same quarter in the prior year, the company posted $0.02 earnings per share. The firm’s revenue for the quarter was up 15.0% on a year-over-year basis. analysts predict that Guidewire Software will post 0.06 EPS for the current year.
In related news, Director Craig Conway sold 600 shares of Guidewire Software stock in a transaction dated Monday, October 16th. The stock was sold at an average price of $78.51, for a total value of $47,106.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Scott Roza sold 782 shares of Guidewire Software stock in a transaction dated Monday, October 16th. The stock was sold at an average price of $78.51, for a total value of $61,394.82. The disclosure for this sale can be found here. Insiders have sold 99,524 shares of company stock valued at $7,461,146 over the last 90 days. Insiders own 0.69% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the business. D.A. Davidson & CO. lifted its holdings in Guidewire Software by 2,270.8% in the second quarter. D.A. Davidson & CO. now owns 1,541 shares of the technology company’s stock worth $105,000 after acquiring an additional 1,476 shares during the last quarter. BNP Paribas Arbitrage SA lifted its holdings in Guidewire Software by 64.2% in the third quarter. BNP Paribas Arbitrage SA now owns 2,030 shares of the technology company’s stock worth $158,000 after acquiring an additional 794 shares during the last quarter. Zions Bancorporation bought a new position in Guidewire Software in the third quarter worth about $161,000. The Manufacturers Life Insurance Company lifted its holdings in Guidewire Software by 7.3% in the second quarter. The Manufacturers Life Insurance Company now owns 2,205 shares of the technology company’s stock worth $151,000 after acquiring an additional 150 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Guidewire Software by 12.6% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,536 shares of the technology company’s stock valued at $174,000 after buying an additional 283 shares during the last quarter.
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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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