Guidewire Software, Inc. (GWRE) Earns “Buy” Rating from Deutsche Bank AG
Deutsche Bank AG reissued their buy rating on shares of Guidewire Software, Inc. (NYSE:GWRE) in a report released on Monday morning. The firm currently has a $85.00 price target on the technology company’s stock, up from their prior price target of $80.00.
GWRE has been the topic of several other reports. BidaskClub raised shares of Guidewire Software from a buy rating to a strong-buy rating in a report on Thursday, August 3rd. Piper Jaffray Companies reissued a buy rating and issued a $80.00 price objective on shares of Guidewire Software in a research note on Sunday, August 27th. Jefferies Group LLC raised shares of Guidewire Software from a neutral rating to an overweight rating in a research note on Tuesday, June 13th. TheStreet cut shares of Guidewire Software from a b- rating to a c+ rating in a research note on Monday, August 14th. Finally, Citigroup Inc. reissued a buy rating and issued a $85.00 price objective (up from $79.00) on shares of Guidewire Software in a research note on Thursday, September 7th. Four research analysts have rated the stock with a hold rating, seven have issued a buy rating and three have given a strong buy rating to the company. The company has a consensus rating of Buy and an average target price of $80.67.
Shares of Guidewire Software (GWRE) opened at 77.47 on Monday. The company has a market capitalization of $5.81 billion, a price-to-earnings ratio of 276.68 and a beta of 1.22. The stock has a 50 day moving average price of $76.09 and a 200 day moving average price of $67.82. 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 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. Guidewire Software had a net margin of 4.13% and a return on equity of 3.59%. The company had revenue of $181.10 million for the quarter, compared to analysts’ expectations of $168.61 million. During the same period last year, the firm earned $0.22 earnings per share. The business’s revenue for the quarter was up 28.3% on a year-over-year basis. Analysts forecast that Guidewire Software will post $1.03 earnings per share for the current year.
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In other Guidewire Software news, CFO Richard Hart sold 3,996 shares of the business’s stock in a transaction on Wednesday, September 20th. The shares were sold at an average price of $77.05, for a total transaction of $307,891.80. Following the sale, the chief financial officer now owns 4,158 shares of the company’s stock, valued at $320,373.90. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Marcus Ryu sold 25,000 shares of Guidewire Software stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $78.56, for a total transaction of $1,964,000.00. Following the transaction, the chief executive officer now owns 149,678 shares in the company, valued at approximately $11,758,703.68. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 125,044 shares of company stock worth $9,433,623. Insiders own 0.96% of the company’s stock.
Several large investors have recently modified their holdings of GWRE. BlackRock Inc. lifted its holdings in shares of Guidewire Software by 33,371.0% during the first quarter. BlackRock Inc. now owns 3,071,300 shares of the technology company’s stock worth $173,006,000 after purchasing an additional 3,062,124 shares during the period. Janus Henderson Group PLC acquired a new position in shares of Guidewire Software during the second quarter worth $113,628,000. Harbour Capital Advisors LLC acquired a new position in shares of Guidewire Software during the second quarter worth $6,700,000. Champlain Investment Partners LLC lifted its holdings in shares of Guidewire Software by 25.3% during the first quarter. Champlain Investment Partners LLC now owns 2,156,880 shares of the technology company’s stock worth $121,497,000 after purchasing an additional 435,600 shares during the period. Finally, Wasatch Advisors Inc. acquired a new position in shares of Guidewire Software during the second quarter worth $28,037,000.
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.
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