Guidewire Software (NYSE:GWRE – Get Rating) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a research note issued on Friday.
Several other research analysts have also recently weighed in on the company. BTIG Research decreased their target price on Guidewire Software from $146.00 to $125.00 in a research note on Wednesday, March 9th. Citigroup decreased their target price on Guidewire Software from $89.00 to $88.00 and set a “neutral” rating for the company in a research note on Wednesday. Royal Bank of Canada began coverage on Guidewire Software in a research note on Tuesday, April 19th. They set an “outperform” rating and a $125.00 target price for the company. Stifel Nicolaus decreased their target price on Guidewire Software from $100.00 to $85.00 in a research note on Wednesday. Finally, DA Davidson reduced their target price on Guidewire Software to $114.00 and set a “na” rating for the company in a report on Tuesday, May 24th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $111.89.
Shares of NYSE:GWRE traded down $2.02 on Friday, hitting $75.17. The company’s stock had a trading volume of 524,209 shares, compared to its average volume of 590,854. Guidewire Software has a 12 month low of $70.83 and a 12 month high of $130.95. The company has a market capitalization of $6.28 billion, a price-to-earnings ratio of -41.53 and a beta of 1.31. The stock’s 50-day moving average is $83.92 and its two-hundred day moving average is $95.14. The company has a debt-to-equity ratio of 0.24, a quick ratio of 4.66 and a current ratio of 4.66.
Guidewire Software (NYSE:GWRE – Get Rating) last announced its earnings results on Tuesday, June 7th. The technology company reported ($0.26) earnings per share for the quarter, beating the consensus estimate of ($0.28) by $0.02. Guidewire Software had a negative return on equity of 7.73% and a negative net margin of 18.86%. The business had revenue of $197.45 million during the quarter, compared to analysts’ expectations of $187.73 million. During the same quarter last year, the business posted ($0.39) earnings per share. The company’s quarterly revenue was up 20.4% on a year-over-year basis. Equities analysts expect that Guidewire Software will post -1.91 earnings per share for the current fiscal year.
In other Guidewire Software news, COO Priscilla Hung sold 1,679 shares of the company’s stock in a transaction dated Thursday, March 17th. The stock was sold at an average price of $87.92, for a total value of $147,617.68. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Michael Polelle sold 562 shares of the company’s stock in a transaction dated Thursday, March 17th. The stock was sold at an average price of $87.92, for a total value of $49,411.04. The disclosure for this sale can be found here. Over the last three months, insiders sold 7,444 shares of company stock valued at $654,255. Company insiders own 0.17% of the company’s stock.
A number of hedge funds have recently modified their holdings of the business. Huntington National Bank increased its position in Guidewire Software by 43.8% in the 4th quarter. Huntington National Bank now owns 384 shares of the technology company’s stock worth $44,000 after purchasing an additional 117 shares during the last quarter. HighTower Advisors LLC increased its position in Guidewire Software by 1.0% in the 3rd quarter. HighTower Advisors LLC now owns 13,438 shares of the technology company’s stock worth $1,596,000 after purchasing an additional 131 shares during the last quarter. Stephens Inc. AR increased its position in Guidewire Software by 6.9% in the 4th quarter. Stephens Inc. AR now owns 2,049 shares of the technology company’s stock worth $233,000 after purchasing an additional 133 shares during the last quarter. Vestmark Advisory Solutions Inc. increased its position in Guidewire Software by 3.4% in the 1st quarter. Vestmark Advisory Solutions Inc. now owns 4,423 shares of the technology company’s stock worth $419,000 after purchasing an additional 147 shares during the last quarter. Finally, Park Avenue Securities LLC increased its position in Guidewire Software by 2.6% in the 1st quarter. Park Avenue Securities LLC now owns 5,975 shares of the technology company’s stock worth $565,000 after purchasing an additional 149 shares during the last quarter.
About Guidewire Software (Get Rating)
Guidewire Software, Inc provides software products for property and casualty insurers worldwide. The company offers Guidewire InsuranceSuite comprising Guidewire PolicyCenter, BillingCenter, and ClaimCenter applications. It also provides Guidewire InsuranceNow, a cloud-based platform that offers policy, billing, and claims management functionality to insurers; and Guidewire InsuranceSuite for Self-Managed.
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