Guidewire Software Inc (NYSE:GWRE) was downgraded by Bank of America Corp. from a “neutral” rating to an “underperform” rating in a report released on Friday. They presently have a $60.00 price target on the stock. Bank of America Corp.’s price objective points to a potential upside of 1.94% from the stock’s previous close. The analysts noted that the move was a valuation call.

A number of other brokerages have also weighed in on GWRE. Deutsche Bank AG reaffirmed a “buy” rating on shares of Guidewire Software in a research report on Monday, August 1st. JPMorgan Chase & Co. lifted their target price on Guidewire Software from $68.00 to $78.00 and gave the company an “overweight” rating in a research report on Thursday, September 8th. Zacks Investment Research raised Guidewire Software from a “hold” rating to a “buy” rating and set a $71.00 target price for the company in a research report on Monday, July 11th. Piper Jaffray Cos. started coverage on Guidewire Software in a research report on Tuesday, May 31st. They set an “overweight” rating and a $65.00 target price for the company. Finally, TheStreet raised Guidewire Software from a “hold” rating to a “buy” rating in a research report on Wednesday, September 7th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $71.14.

Analyst Recommendations for Guidewire Software (NYSE:GWRE)

Shares of Guidewire Software (NYSE:GWRE) opened at 58.86 on Friday. Guidewire Software has a 52-week low of $42.32 and a 52-week high of $64.78. The stock has a market capitalization of $4.28 billion and a PE ratio of 294.30. The company’s 50 day moving average price is $61.71 and its 200 day moving average price is $58.73.

Guidewire Software (NYSE:GWRE) last issued its quarterly earnings results on Wednesday, September 7th. The company reported $0.39 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.32 by $0.07. The business had revenue of $141.18 million for the quarter, compared to the consensus estimate of $136.09 million. During the same period in the prior year, the business posted $0.35 earnings per share. Guidewire Software’s revenue was up 12.1% on a year-over-year basis. On average, equities research analysts anticipate that Guidewire Software will post $0.76 EPS for the current year.

In related news, CEO Marcus Ryu sold 20,000 shares of the business’s stock in a transaction on Friday, July 1st. The stock was sold at an average price of $61.68, for a total transaction of $1,233,600.00. Following the transaction, the chief executive officer now directly owns 18,838 shares in the company, valued at approximately $1,161,927.84. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Scott Roza sold 782 shares of the business’s stock in a transaction on Thursday, September 15th. The stock was sold at an average price of $61.04, for a total value of $47,733.28. Following the transaction, the insider now owns 3,144 shares in the company, valued at $191,909.76. The disclosure for this sale can be found here.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Wellington Management Group LLP increased its position in shares of Guidewire Software by 44.0% in the first quarter. Wellington Management Group LLP now owns 4,266,255 shares of the company’s stock valued at $232,425,000 after buying an additional 1,304,174 shares during the period. Geode Capital Management LLC increased its position in shares of Guidewire Software by 8.5% in the first quarter. Geode Capital Management LLC now owns 474,215 shares of the company’s stock valued at $25,835,000 after buying an additional 37,249 shares during the period. Goldman Sachs Group Inc. increased its position in shares of Guidewire Software by 30.3% in the first quarter. Goldman Sachs Group Inc. now owns 658,463 shares of the company’s stock valued at $35,873,000 after buying an additional 153,049 shares during the period. UBS Group AG increased its stake in Guidewire Software by 45.8% in the first quarter. UBS Group AG now owns 21,095 shares of the company’s stock valued at $1,150,000 after buying an additional 6,622 shares during the last quarter. Finally, State Street Corp increased its stake in Guidewire Software by 2.7% in the first quarter. State Street Corp now owns 1,273,842 shares of the company’s stock valued at $69,403,000 after buying an additional 33,481 shares during 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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