Guidewire Software, Inc. (NYSE:GWRE) had its price target boosted by Bank of America Corporation from $74.00 to $76.00 in a research report sent to investors on Thursday, September 7th. The brokerage currently has a neutral rating on the technology company’s stock.
Several other equities analysts have also recently issued reports on GWRE. Stifel Nicolaus boosted their target price on shares of Guidewire Software from $61.00 to $70.00 and gave the company a hold rating in a research note on Friday, June 2nd. UBS AG upped their price objective on shares of Guidewire Software from $72.00 to $77.00 and gave the stock a buy rating in a research report on Friday, June 2nd. ValuEngine upgraded shares of Guidewire Software from a sell rating to a hold rating in a research report on Friday, June 2nd. Piper Jaffray Companies upgraded shares of 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. Finally, Jefferies Group LLC upgraded shares of Guidewire Software from a neutral rating to an overweight rating in a research report on Tuesday, June 13th. Four investment analysts have rated the stock with a hold rating, seven have given a buy rating and three have assigned a strong buy rating to the stock. The company has an average rating of Buy and a consensus target price of $78.89.
Shares of Guidewire Software (NYSE:GWRE) traded down 0.56% on Thursday, hitting $77.64. The stock had a trading volume of 794,683 shares. The company has a market capitalization of $5.81 billion, a PE ratio of 277.29 and a beta of 1.24. Guidewire Software has a 1-year low of $49.18 and a 1-year high of $81.46. The firm has a 50-day moving average of $73.33 and a 200 day moving average of $65.76.
Guidewire Software (NYSE:GWRE) last posted its earnings results on Wednesday, September 6th. The technology company reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.20. Guidewire Software had a net margin of 4.13% and a return on equity of 3.67%. The firm had revenue of $181.10 million during the quarter, compared to analysts’ expectations of $168.61 million. During the same period in the previous year, the business posted $0.22 EPS. The business’s revenue was up 28.3% compared to the same quarter last year. On average, equities analysts anticipate that Guidewire Software will post $1.03 earnings per share for the current fiscal year.
In related news, Director Craig Conway sold 600 shares of the firm’s stock in a transaction that occurred on Monday, July 17th. The shares were sold at an average price of $70.39, for a total value of $42,234.00. Following the sale, the director now owns 10,047 shares of the company’s stock, valued at $707,208.33. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, General Counsel James Winston King sold 2,157 shares of the firm’s stock in a transaction that occurred on Tuesday, June 20th. The shares were sold at an average price of $66.91, for a total transaction of $144,324.87. Following the completion of the sale, the general counsel now directly owns 2,174 shares in the company, valued at approximately $145,462.34. The disclosure for this sale can be found here. Insiders have sold 105,579 shares of company stock worth $7,504,996 in the last three months. Corporate insiders own 0.96% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the business. Wasatch Advisors Inc. acquired a new stake in Guidewire Software during the second quarter worth approximately $28,037,000. Public Employees Retirement System of Ohio grew its position in shares of Guidewire Software by 176.5% during the second quarter. Public Employees Retirement System of Ohio now owns 89,627 shares of the technology company’s stock worth $6,158,000 after acquiring an additional 57,218 shares during the last quarter. Koch Industries Inc. purchased a new position in shares of Guidewire Software during the second quarter worth approximately $304,000. DF Dent & Co. Inc. grew its position in shares of Guidewire Software by 49.3% during the second quarter. DF Dent & Co. Inc. now owns 13,775 shares of the technology company’s stock worth $946,000 after acquiring an additional 4,550 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its position in shares of Guidewire Software by 7.3% during 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.
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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