Zacks Investment Research lowered shares of Guidewire Software, Inc. (NYSE:GWRE) from a strong-buy rating to a hold rating in a research note issued to investors on Wednesday.

According to Zacks, “Guidewire Software, a property and casualty insurance based software solutions provider, reported better-than-expected fiscal fourth-quarter 2017 results. The impressive top and bottom lines were driven by higher service activities, an additional $16.2 million of hosting revenues from ISCS, which the company acquired in February 2017; and certain early payments from term licenses. Notably, regular customer addition via cross-selling of its product suites is a positive. The company’s shift from term license to a cloud-based model is a tailwind for the company in the long run as the industry shifts toward cloud infrastructure. However, the costs related to the shift will put pressure on margins in the near term and affect the top line as term license revenues include advance payments whereas subscription-based revenues are a bit delayed. Nevertheless, the company’s shares have outperformed the industry on a year-to-date basis.”

GWRE has been the subject of a number of other research reports. BidaskClub upgraded Guidewire Software from a buy rating to a strong-buy rating in a report on Thursday, August 3rd. Piper Jaffray Companies restated a buy rating and set a $80.00 target price on shares of Guidewire Software in a report on Sunday, August 27th. Jefferies Group LLC upgraded Guidewire Software from a neutral rating to an overweight rating in a report on Tuesday, June 13th. TheStreet lowered Guidewire Software from a b- rating to a c+ rating in a report on Monday, August 14th. Finally, Citigroup Inc. restated a buy rating and set a $85.00 target price (up previously from $79.00) on shares of Guidewire Software in a report on Thursday, September 7th. Five research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company’s stock. Guidewire Software has a consensus rating of Buy and a consensus target price of $80.67.

Guidewire Software (GWRE) traded up 0.33% on Wednesday, hitting $79.64. The stock had a trading volume of 457,493 shares. The stock’s 50-day moving average is $76.92 and its 200 day moving average is $68.56. The firm has a market capitalization of $5.97 billion, a price-to-earnings ratio of 284.43 and a beta of 1.22. Guidewire Software has a 1-year low of $49.18 and a 1-year high of $81.46.

Guidewire Software (NYSE:GWRE) last announced its quarterly earnings data on Wednesday, September 6th. The technology company reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.20. Guidewire Software had a return on equity of 3.59% and a net margin of 4.13%. The company had revenue of $181.10 million for the quarter, compared to analysts’ expectations of $168.61 million. During the same quarter in the prior year, the firm earned $0.22 earnings per share. Guidewire Software’s revenue was up 28.3% compared to the same quarter last year. On average, equities research analysts predict that Guidewire Software will post $0.98 earnings per share for the current fiscal year.

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In related news, CEO Marcus Ryu sold 10,341 shares of the company’s stock in a transaction on Friday, July 14th. The stock was sold at an average price of $69.65, for a total value of $720,250.65. Following the transaction, the chief executive officer now directly owns 199,480 shares of the company’s stock, valued at approximately $13,893,782. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Richard Hart sold 375 shares of the company’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $70.94, for a total value of $26,602.50. Following the completion of the transaction, the chief financial officer now directly owns 3,880 shares in the company, valued at $275,247.20. The disclosure for this sale can be found here. In the last quarter, insiders have sold 125,211 shares of company stock valued at $9,447,959. Company insiders own 0.96% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Aperio Group LLC increased its position in shares of Guidewire Software by 5.3% in the 2nd quarter. Aperio Group LLC now owns 5,369 shares of the technology company’s stock valued at $369,000 after acquiring an additional 269 shares during the period. Schwab Charles Investment Management Inc. increased its position in shares of Guidewire Software by 4.7% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 279,346 shares of the technology company’s stock valued at $15,736,000 after acquiring an additional 12,434 shares during the period. Teacher Retirement System of Texas increased its position in shares of Guidewire Software by 1.1% in the 2nd quarter. Teacher Retirement System of Texas now owns 5,906 shares of the technology company’s stock valued at $406,000 after acquiring an additional 63 shares during the period. BlackRock Inc. increased its position in shares of Guidewire Software by 33,371.0% in the 1st quarter. BlackRock Inc. now owns 3,071,300 shares of the technology company’s stock valued at $173,006,000 after acquiring an additional 3,062,124 shares during the period. Finally, Barometer Capital Management Inc. acquired a new position in shares of Guidewire Software in the 2nd quarter valued at $4,150,000.

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.

Analyst Recommendations for Guidewire Software (NYSE:GWRE)

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