Guidewire Software Inc (GWRE) Updates FY17 Earnings Guidance
Guidewire Software Inc (NYSE:GWRE) issued an update on its FY17 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $0.70-0.79 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.76. The company issued revenue guidance of $473-483 million, compared to the consensus revenue estimate of $479.01 million.Guidewire Software also updated its Q2 guidance to $0.12-0.15 EPS.
Shares of Guidewire Software Inc (NYSE:GWRE) traded down 1.40% during trading on Tuesday, reaching $57.55. The company’s stock had a trading volume of 513,955 shares. The company has a 50 day moving average price of $57.79 and a 200 day moving average price of $60.02. Guidewire Software Inc has a 52 week low of $42.32 and a 52 week high of $64.78. The firm has a market capitalization of $4.21 billion and a P/E ratio of 287.75.
Guidewire Software (NYSE:GWRE) last posted its quarterly earnings results on Tuesday, November 29th. The company reported $0.02 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.05) by $0.07. The business had revenue of $94.10 million for the quarter, compared to the consensus estimate of $87.17 million. The company’s quarterly revenue was up 14.3% on a year-over-year basis. During the same period last year, the firm earned $0.07 earnings per share. On average, equities research analysts expect that Guidewire Software Inc will post $0.76 EPS for the current fiscal year.
GWRE has been the subject of a number of recent research reports. Deutsche Bank AG reissued a buy rating on shares of Guidewire Software in a research note on Thursday, September 8th. TheStreet raised shares of Guidewire Software from a hold rating to a buy rating in a research note on Wednesday, September 7th. Zacks Investment Research downgraded shares of Guidewire Software from a strong-buy rating to a hold rating in a research note on Thursday, September 8th. JMP Securities reaffirmed a hold rating on shares of Guidewire Software in a research note on Thursday, September 8th. Finally, Goldman Sachs Group Inc. initiated coverage on shares of Guidewire Software in a research note on Tuesday, October 4th. They issued a neutral rating and a $57.00 target price for the company. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the stock. Guidewire Software currently has a consensus rating of Buy and an average target price of $69.38.
In other Guidewire Software news, insider Scott Roza sold 781 shares of the stock in a transaction on Tuesday, November 15th. The shares were sold at an average price of $56.16, for a total value of $43,860.96. Following the completion of the sale, the insider now owns 982 shares in the company, valued at $55,149.12. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Marcus Ryu sold 15,000 shares of the stock in a transaction on Tuesday, November 1st. The shares were sold at an average price of $57.25, for a total transaction of $858,750.00. Following the completion of the sale, the chief executive officer now owns 15,000 shares of the company’s stock, valued at approximately $858,750. The disclosure for this sale can be found here.
A number of hedge funds have recently made changes to their positions in GWRE. Price T Rowe Associates Inc. MD boosted its stake in shares of Guidewire Software by 8.5% in the third quarter. Price T Rowe Associates Inc. MD now owns 6,364,991 shares of the company’s stock worth $381,772,000 after buying an additional 500,090 shares in the last quarter. Credit Suisse AG boosted its stake in shares of Guidewire Software by 48.7% in the second quarter. Credit Suisse AG now owns 267,869 shares of the company’s stock worth $16,544,000 after buying an additional 87,788 shares in the last quarter. Loomis Sayles & Co. L P boosted its stake in shares of Guidewire Software by 11.0% in the second quarter. Loomis Sayles & Co. L P now owns 680,377 shares of the company’s stock worth $42,020,000 after buying an additional 67,382 shares in the last quarter. State of Wisconsin Investment Board purchased a new stake in shares of Guidewire Software during the second quarter worth approximately $3,011,000. Finally, UBS Group AG boosted its stake in shares of Guidewire Software by 375.4% in the third quarter. UBS Group AG now owns 29,597 shares of the company’s stock worth $1,775,000 after buying an additional 40,345 shares in 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. Its platform consists of three products: core transaction processing, data management and analytics, and digital engagement.
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