Guidewire Software, Inc. (NYSE:GWRE) had its price target boosted by Stifel Nicolaus from $70.00 to $75.00 in a research report sent to investors on Thursday, September 7th, Marketbeat Ratings reports. The brokerage currently has a hold rating on the technology company’s stock.
A number of other equities analysts have also recently weighed in on the stock. Zacks Investment Research upgraded shares of Guidewire Software from a hold rating to a buy rating and set a $78.00 price objective for the company in a research report on Wednesday, July 12th. KeyCorp restated a buy rating and set a $75.00 price objective on shares of Guidewire Software in a research report on Friday, August 25th. 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. Bank of America Corporation upgraded shares of Guidewire Software from an underperform rating to a neutral rating and set a $68.00 target price for the company in a research report on Monday, May 15th. 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 analysts have rated the stock with a hold rating, seven have given a buy rating and three have given a strong buy rating to the stock. Guidewire Software presently has a consensus 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 other Guidewire Software news, insider Michael Polelle sold 1,459 shares of the firm’s stock in a transaction that occurred on Monday, June 19th. The shares were sold at an average price of $67.26, for a total transaction of $98,132.34. Following the sale, the insider now owns 3,724 shares of the company’s stock, valued at $250,476.24. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Marcus Ryu sold 8,290 shares of the firm’s stock in a transaction that occurred on Monday, June 19th. The stock was sold at an average price of $67.19, for a total transaction of $557,005.10. Following the sale, the chief executive officer now directly owns 189,139 shares in the company, valued at approximately $12,708,249.41. The disclosure for this sale can be found here. In the last ninety days, insiders sold 105,579 shares of company stock worth $7,504,996. 0.96% of the stock is owned by corporate insiders.
Several institutional investors and hedge funds have recently made changes to their positions in GWRE. BlackRock Inc. grew its position in shares of Guidewire Software by 33,371.0% during the first quarter. BlackRock Inc. now owns 3,071,300 shares of the technology company’s stock worth $173,006,000 after acquiring an additional 3,062,124 shares during the last quarter. Wellington Management Group LLP grew its position in shares of Guidewire Software by 51.4% during the first quarter. Wellington Management Group LLP now owns 6,377,813 shares of the technology company’s stock worth $359,261,000 after acquiring an additional 2,165,143 shares during the last quarter. Janus Henderson Group PLC purchased a new position in shares of Guidewire Software during the second quarter worth approximately $113,628,000. Harbour Capital Advisors LLC purchased a new position in shares of Guidewire Software during the second quarter worth approximately $6,700,000. Finally, Champlain Investment Partners LLC grew its position in shares of Guidewire Software by 25.3% during the first quarter. Champlain Investment Partners LLC now owns 2,156,880 shares of the technology company’s stock worth $121,497,000 after acquiring an additional 435,600 shares during the last quarter.
Guidewire Software Company Profile
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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