Guidewire Software, Inc. (GWRE) Downgraded by Zacks Investment Research
Zacks Investment Research cut shares of Guidewire Software, Inc. (NYSE:GWRE) from a hold rating to a sell rating in a research report released on Tuesday.
According to Zacks, “Guidewire Software's costs related to the shift from term license to a cloud-based model will put pressure on margins in the near term. The same will also hurt the top line as term license revenues include advance payments whereas subscription-based revenues are a bit delayed. However, it is a tailwind for the company in the long run as the industry shifts toward cloud infrastructure. Notably, regular customer addition via cross-selling of its product suites is a positive for the company. 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 raised Guidewire Software from a buy rating to a strong-buy rating in a research report on Thursday, August 3rd. Piper Jaffray Companies reaffirmed a buy rating and set a $80.00 price target on shares of Guidewire Software in a research report on Sunday, August 27th. TheStreet cut Guidewire Software from a b- rating to a c+ rating in a research report on Monday, August 14th. Citigroup Inc. reaffirmed a buy rating and set a $85.00 price target (up previously from $79.00) on shares of Guidewire Software in a research report on Thursday, September 7th. Finally, Deutsche Bank AG reaffirmed a buy rating and set a $85.00 price target (up previously from $80.00) on shares of Guidewire Software in a research report on Monday, October 2nd. One research analyst has rated the stock with a sell rating, four have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. The company has an average rating of Buy and an average target price of $80.11.
Shares of Guidewire Software (NYSE:GWRE) traded up $1.00 during trading hours on Tuesday, hitting $80.31. The stock had a trading volume of 285,776 shares, compared to its average volume of 443,282. Guidewire Software has a twelve month low of $49.18 and a twelve month high of $83.47. The stock has a market cap of $5,940.00, a P/E ratio of 192.43, a PEG ratio of 16.20 and a beta of 1.23.
Guidewire Software (NYSE:GWRE) last issued its quarterly earnings results on Wednesday, September 6th. The technology company reported $0.59 EPS for the quarter, topping the Zacks’ 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 during the quarter, compared to analysts’ expectations of $168.61 million. During the same quarter in the previous year, the firm posted $0.22 EPS. The firm’s revenue was up 28.3% compared to the same quarter last year. research analysts expect that Guidewire Software will post 0.32 earnings per share for the current fiscal year.
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In related news, CEO Marcus Ryu sold 25,000 shares of the company’s stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $75.51, for a total value of $1,887,750.00. Following the completion of the transaction, the chief executive officer now owns 139,139 shares of the company’s stock, valued at approximately $10,506,385.89. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Ali Kheirolomoom sold 2,047 shares of the company’s stock in a transaction dated Wednesday, September 20th. The stock was sold at an average price of $77.06, for a total value of $157,741.82. Following the completion of the transaction, the insider now directly owns 1,941 shares of the company’s stock, valued at approximately $149,573.46. The disclosure for this sale can be found here. In the last three months, insiders sold 114,402 shares of company stock valued at $8,868,594. Insiders own 0.96% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GWRE. Legal & General Group Plc raised its holdings in Guidewire Software by 253.0% in the 1st quarter. Legal & General Group Plc now owns 23,385 shares of the technology company’s stock worth $1,317,000 after purchasing an additional 16,760 shares during the period. UBS Group AG increased its stake in Guidewire Software by 31.1% during the 1st quarter. UBS Group AG now owns 33,648 shares of the technology company’s stock worth $1,896,000 after buying an additional 7,984 shares in the last quarter. BlackRock Inc. increased its stake in Guidewire Software by 33,371.0% during the 1st quarter. BlackRock Inc. now owns 3,071,300 shares of the technology company’s stock worth $173,006,000 after buying an additional 3,062,124 shares in the last quarter. Schwab Charles Investment Management Inc. increased its stake in Guidewire Software by 4.7% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 279,346 shares of the technology company’s stock worth $15,736,000 after buying an additional 12,434 shares in the last quarter. Finally, Bank of America Corp DE increased its stake in Guidewire Software by 1.8% during the 1st quarter. Bank of America Corp DE now owns 228,259 shares of the technology company’s stock worth $12,857,000 after buying an additional 4,078 shares in 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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