Guidewire Software, Inc. (GWRE) Upgraded to Hold by ValuEngine
ValuEngine upgraded shares of Guidewire Software, Inc. (NYSE:GWRE) from a sell rating to a hold rating in a research note issued to investors on Thursday.
Several other equities research analysts also recently issued reports on GWRE. TheStreet raised Guidewire Software from a c+ rating to a b- rating in a report on Tuesday, April 25th. Bank of America Corporation raised Guidewire Software from an underperform rating to a neutral rating and set a $68.00 price target for the company in a report on Monday, May 15th. Stifel Nicolaus raised their price target on Guidewire Software from $61.00 to $70.00 and gave the company a hold rating in a report on Friday, June 2nd. UBS AG raised their price target on Guidewire Software from $72.00 to $77.00 and gave the company a buy rating in a report on Friday, June 2nd. Finally, Piper Jaffray Companies raised Guidewire Software from a neutral rating to an overweight rating and raised their price target for the company from $70.00 to $75.00 in a report on Tuesday, June 13th. Five analysts have rated the stock with a hold rating, five have issued a buy rating and two have issued a strong buy rating to the company’s stock. The company has an average rating of Buy and an average price target of $75.25.
Shares of Guidewire Software (NYSE GWRE) traded down 0.42% during trading on Thursday, reaching $70.99. 177,171 shares of the company were exchanged. The company has a 50 day moving average price of $69.78 and a 200-day moving average price of $61.47. Guidewire Software has a one year low of $49.18 and a one year high of $73.36. The stock has a market capitalization of $5.28 billion, a price-to-earnings ratio of 518.18 and a beta of 1.27.
Guidewire Software (NYSE:GWRE) last announced its quarterly earnings results on Thursday, June 1st. The technology company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.03) by $0.19. Guidewire Software had a return on equity of 1.97% and a net margin of 2.19%. The business had revenue of $123.44 million during the quarter, compared to the consensus estimate of $104.55 million. During the same quarter last year, the firm posted $0.14 EPS. The company’s quarterly revenue was up 24.9% on a year-over-year basis. Equities analysts predict that Guidewire Software will post $0.85 EPS for the current year.
In other Guidewire Software news, insider Ali Kheirolomoom sold 9,562 shares of the stock in a transaction on Thursday, May 25th. The stock was sold at an average price of $65.00, for a total transaction of $621,530.00. Following the transaction, the insider now owns 5,585 shares in the company, valued at approximately $363,025. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Marcus Ryu sold 20,000 shares of the stock in a transaction on Thursday, June 1st. The stock was sold at an average price of $66.86, for a total value of $1,337,200.00. Following the transaction, the chief executive officer now owns 201,775 shares in the company, valued at approximately $13,490,676.50. The disclosure for this sale can be found here. Insiders have sold a total of 116,755 shares of company stock worth $7,988,647 in the last quarter. Company insiders own 0.96% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Sumitomo Mitsui Asset Management Company LTD boosted its position in shares of Guidewire Software by 1.7% in the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 299,235 shares of the technology company’s stock worth $16,855,000 after buying an additional 4,900 shares during the last quarter. Old Mutual Global Investors UK Ltd. bought a new position in shares of Guidewire Software during the first quarter worth approximately $450,000. Whittier Trust Co. boosted its position in shares of Guidewire Software by 5.4% in the first quarter. Whittier Trust Co. now owns 15,611 shares of the technology company’s stock worth $879,000 after buying an additional 793 shares during the last quarter. Nikko Asset Management Americas Inc. boosted its position in shares of Guidewire Software by 54.7% in the first quarter. Nikko Asset Management Americas Inc. now owns 13,300 shares of the technology company’s stock worth $749,000 after buying an additional 4,700 shares during the last quarter. Finally, Pier 88 Investment Partners LLC boosted its position in shares of Guidewire Software by 3.3% in the first quarter. Pier 88 Investment Partners LLC now owns 11,590 shares of the technology company’s stock worth $653,000 after buying an additional 365 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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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