Guidewire Software (NYSE:GWRE) Issues Earnings Results

Guidewire Software (NYSE:GWRE) issued its earnings results on Wednesday. The technology company reported $0.66 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.66, FiscalAI reports. Guidewire Software had a return on equity of 9.00% and a net margin of 5.81%.The company had revenue of $332.64 million during the quarter, compared to analysts’ expectations of $316.62 million. During the same period in the prior year, the business earned $0.43 EPS. The firm’s quarterly revenue was up 26.5% on a year-over-year basis.

Guidewire Software Stock Up 0.5%

GWRE traded up $1.09 during trading hours on Wednesday, hitting $215.81. 1,524,765 shares of the company’s stock were exchanged, compared to its average volume of 892,675. The firm has a market cap of $18.35 billion, a P/E ratio of 269.76, a price-to-earnings-growth ratio of 13.06 and a beta of 1.08. Guidewire Software has a 12-month low of $165.08 and a 12-month high of $272.60. The company has a current ratio of 2.77, a quick ratio of 2.77 and a debt-to-equity ratio of 0.46. The firm has a 50 day moving average of $229.52 and a 200 day moving average of $229.18.

Insiders Place Their Bets

In other news, CAO David Franklin Peterson sold 1,811 shares of the business’s stock in a transaction dated Tuesday, September 16th. The stock was sold at an average price of $242.87, for a total transaction of $439,837.57. Following the completion of the transaction, the chief accounting officer directly owned 14,164 shares of the company’s stock, valued at approximately $3,440,010.68. The trade was a 11.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Jeffrey Elliott Cooper sold 14,103 shares of Guidewire Software stock in a transaction that occurred on Tuesday, September 16th. The stock was sold at an average price of $242.87, for a total transaction of $3,425,195.61. Following the completion of the transaction, the chief financial officer owned 84,646 shares of the company’s stock, valued at $20,557,974.02. This represents a 14.28% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 112,342 shares of company stock valued at $27,113,960. Corporate insiders own 0.46% of the company’s stock.

Institutional Trading of Guidewire Software

A number of hedge funds and other institutional investors have recently bought and sold shares of GWRE. Florida Financial Advisors LLC raised its holdings in Guidewire Software by 46.3% during the second quarter. Florida Financial Advisors LLC now owns 3,279 shares of the technology company’s stock worth $767,000 after purchasing an additional 1,037 shares in the last quarter. Bank of Nova Scotia increased its position in Guidewire Software by 30.9% during the 2nd quarter. Bank of Nova Scotia now owns 2,024 shares of the technology company’s stock worth $477,000 after purchasing an additional 478 shares during the period. Jump Financial LLC purchased a new position in shares of Guidewire Software during the 2nd quarter worth approximately $305,000. Two Sigma Securities LLC acquired a new stake in shares of Guidewire Software in the 2nd quarter valued at approximately $269,000. Finally, Chevy Chase Trust Holdings LLC purchased a new stake in shares of Guidewire Software in the third quarter valued at approximately $237,000.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on GWRE. Robert W. Baird raised their price objective on shares of Guidewire Software from $270.00 to $288.00 and gave the stock an “outperform” rating in a research report on Friday, September 5th. DA Davidson restated a “neutral” rating and set a $250.00 price target on shares of Guidewire Software in a report on Monday. Raymond James Financial reiterated an “outperform” rating and issued a $275.00 price objective (up from $255.00) on shares of Guidewire Software in a report on Friday, September 5th. Oppenheimer increased their price objective on Guidewire Software from $275.00 to $300.00 and gave the stock an “outperform” rating in a research report on Friday, September 5th. Finally, Stifel Nicolaus lifted their target price on Guidewire Software from $270.00 to $300.00 and gave the company a “buy” rating in a research report on Friday, September 5th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $272.00.

Guidewire Software Company Profile

Guidewire Software, Inc provides a platform for property and casualty (P&C) insurers worldwide. The company offers Guidewire InsuranceSuite Cloud, such as PolicyCenter Cloud, BillingCenter Cloud, and ClaimCenter Cloud applications. It also provides Guidewire InsuranceNow, a cloud-based platform that offers policy, billing, and claims management functionality to insurers; and Guidewire InsuranceSuite for Self-Managed.