Guidewire Software Inc (GWRE) Receives $84.00 Consensus Price Target from Brokerages

Shares of Guidewire Software Inc (NYSE:GWRE) have been assigned an average rating of “Buy” from the sixteen brokerages that are currently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $84.00.

Several analysts have recently weighed in on GWRE shares. KeyCorp reiterated a “buy” rating and issued a $91.00 price objective on shares of Guidewire Software in a research note on Wednesday, March 7th. DA Davidson began coverage on shares of Guidewire Software in a research note on Friday, February 2nd. They set a “buy” rating and a $92.00 price target for the company. Deutsche Bank restated a “buy” rating and set a $85.00 price target on shares of Guidewire Software in a research note on Thursday, November 30th. Citigroup set a $85.00 price target on shares of Guidewire Software and gave the company a “buy” rating in a research note on Thursday, November 30th. Finally, TheStreet lowered shares of Guidewire Software from a “b” rating to a “c+” rating in a research note on Wednesday, November 29th.

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GWRE stock traded up $0.50 during trading hours on Friday, hitting $86.01. 263,696 shares of the stock traded hands, compared to its average volume of 613,613. The company has a market cap of $6,395.98, a price-to-earnings ratio of -231.95 and a beta of 1.08. Guidewire Software has a 12 month low of $54.74 and a 12 month high of $92.65.

Guidewire Software (NYSE:GWRE) last released its quarterly earnings data on Tuesday, March 6th. The technology company reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.14. The company had revenue of $163.80 million during the quarter, compared to analyst estimates of $154.34 million. Guidewire Software had a negative net margin of 5.09% and a positive return on equity of 2.54%. Guidewire Software’s revenue for the quarter was up 41.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.28 EPS. analysts forecast that Guidewire Software will post -0.01 EPS for the current fiscal year.

In other Guidewire Software news, Director Craig Conway sold 400 shares of Guidewire Software stock in a transaction on Thursday, March 15th. The shares were sold at an average price of $86.52, for a total transaction of $34,608.00. Following the transaction, the director now directly owns 10,193 shares of the company’s stock, valued at approximately $881,898.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Andrew William Fraser Brown sold 2,585 shares of Guidewire Software stock in a transaction on Friday, January 12th. The stock was sold at an average price of $77.26, for a total transaction of $199,717.10. Following the transaction, the director now directly owns 3,846 shares in the company, valued at $297,141.96. The disclosure for this sale can be found here. Insiders have sold a total of 67,190 shares of company stock valued at $5,219,623 in the last 90 days. 0.69% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of GWRE. ARK Investment Management LLC purchased a new position in Guidewire Software during the 4th quarter worth $118,000. American International Group Inc. purchased a new position in shares of Guidewire Software in the 4th quarter worth about $121,000. The Manufacturers Life Insurance Company boosted its holdings in shares of 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 worth $151,000 after buying an additional 150 shares during the last quarter. BNP Paribas Arbitrage SA boosted its holdings in shares of Guidewire Software by 64.2% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 2,030 shares of the technology company’s stock worth $158,000 after buying an additional 794 shares during the last quarter. Finally, Zions Bancorporation purchased a new position in shares of Guidewire Software in the 3rd quarter worth about $161,000.

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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.

Analyst Recommendations for Guidewire Software (NYSE:GWRE)

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