Guidewire Software (GWRE) Releases Q2 Earnings Guidance
Guidewire Software (NYSE:GWRE) updated its second quarter earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 0.17-0.21 for the period, compared to the Thomson Reuters consensus estimate of $0.22. The company issued revenue guidance of 152-156 million, compared to the consensus revenue estimate of $145.13 million.Guidewire Software also updated its FY18 guidance to $0.82-0.90 EPS.
Several research analysts recently issued reports on the company. BidaskClub upgraded Guidewire Software from a buy rating to a strong-buy rating in a research report on Thursday, August 3rd. Zacks Investment Research raised shares of Guidewire Software from a hold rating to a buy rating and set a $88.00 target price for the company in a research note on Tuesday, October 17th. Piper Jaffray Companies reaffirmed a buy rating and issued a $80.00 target price on shares of Guidewire Software in a research note on Sunday, August 27th. TheStreet cut shares of Guidewire Software from a b- rating to a c+ rating in a research note on Monday, August 14th. Finally, Citigroup reaffirmed a buy rating and issued a $85.00 target price (up from $79.00) on shares of Guidewire Software in a research note on Thursday, September 7th. One research analyst has rated the stock with a sell rating, three have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of Buy and an average target price of $80.11.
Guidewire Software (NYSE:GWRE) traded down $0.09 during mid-day trading on Wednesday, reaching $81.51. 759,700 shares of the company’s stock traded hands, compared to its average volume of 443,361. The stock has a market cap of $5,860.00, a PE ratio of 197.07, a P/E/G ratio of 26.21 and a beta of 1.23. Guidewire Software has a 12-month low of $49.18 and a 12-month high of $83.52.
Guidewire Software (NYSE:GWRE) last released its earnings results on Wednesday, September 6th. The technology company reported $0.59 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.39 by $0.20. The firm had revenue of $181.10 million during the quarter, compared to analysts’ expectations of $168.61 million. Guidewire Software had a net margin of 4.13% and a return on equity of 3.59%. Guidewire Software’s revenue for the quarter was up 28.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.22 EPS. analysts predict that Guidewire Software will post 0.2 EPS for the current year.
In other news, CFO Richard Hart sold 375 shares of the business’s stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $75.57, for a total transaction of $28,338.75. Following the completion of the sale, the chief financial officer now directly owns 3,819 shares of the company’s stock, valued at approximately $288,601.83. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Ali Kheirolomoom sold 2,047 shares of the business’s stock in a transaction on Wednesday, September 20th. The shares were sold at an average price of $77.06, for a total transaction of $157,741.82. Following the sale, the insider now directly owns 1,941 shares of the company’s stock, valued at $149,573.46. The disclosure for this sale can be found here. Insiders have sold a total of 113,621 shares of company stock valued at $8,821,024 over the last three months. Corporate insiders own 0.69% of the company’s stock.
An institutional investor recently raised its position in Guidewire Software stock. The Manufacturers Life Insurance Company increased its holdings in shares of Guidewire Software, Inc. (NYSE:GWRE) by 7.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,205 shares of the technology company’s stock after purchasing an additional 150 shares during the period. The Manufacturers Life Insurance Company ‘s holdings in Guidewire Software were worth $151,000 as of its most recent filing with the Securities and Exchange Commission.
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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