Traders Buy Large Volume of Call Options on Guidewire Software (GWRE)
Guidewire Software, Inc. (NYSE:GWRE) was the recipient of some unusual options trading on Wednesday. Stock traders acquired 1,804 call options on the company. This is an increase of approximately Infinity compared to the average daily volume of 0 call options.
A number of research firms have issued reports on GWRE. Zacks Investment Research downgraded Guidewire Software from a “buy” rating to a “hold” rating in a report on Friday, October 27th. BidaskClub downgraded Guidewire Software from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 18th. Deutsche Bank AG reiterated a “buy” rating and issued a $85.00 price objective (up previously from $80.00) on shares of Guidewire Software in a report on Monday, October 2nd. KeyCorp reiterated a “buy” rating and issued a $86.00 price objective on shares of Guidewire Software in a report on Friday, September 29th. Finally, TheStreet upgraded Guidewire Software from a “c+” rating to a “b” rating in a report on Wednesday, September 6th. Five investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $80.11.
Shares of Guidewire Software (GWRE) opened at $80.96 on Friday. The company has a market capitalization of $6.03 billion, a P/E ratio of 191.45, a price-to-earnings-growth ratio of 16.12 and a beta of 1.23.
Guidewire Software (NYSE:GWRE) last issued its earnings results on Wednesday, September 6th. The technology company reported $0.59 earnings per share for the quarter, topping the Zacks’ 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%. The firm’s revenue for the quarter was up 28.3% compared to the same quarter last year. During the same period last year, the firm posted $0.22 earnings per share. equities analysts forecast that Guidewire Software will post 0.32 EPS for the current fiscal year.
In related news, CFO Richard Hart sold 3,996 shares of the company’s stock in a transaction that occurred on Wednesday, September 20th. The stock was sold at an average price of $77.05, for a total transaction of $307,891.80. Following the completion of the transaction, the chief financial officer now owns 4,158 shares in the company, valued at $320,373.90. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Marcus Ryu sold 25,000 shares of the company’s stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $75.51, for a total value of $1,887,750.00. Following the transaction, the chief executive officer now owns 139,139 shares of the company’s stock, valued at approximately $10,506,385.89. The disclosure for this sale can be found here. In the last three months, insiders have sold 114,641 shares of company stock valued at $8,884,061. Insiders own 0.96% of the company’s stock.
Large investors have recently modified their holdings of the stock. D.A. Davidson & CO. boosted its holdings in Guidewire Software by 2,270.8% during the second quarter. D.A. Davidson & CO. now owns 1,541 shares of the technology company’s stock worth $105,000 after buying an additional 1,476 shares in the last quarter. BNP Paribas Arbitrage SA boosted its holdings in Guidewire Software by 64.2% during the third quarter. BNP Paribas Arbitrage SA now owns 2,030 shares of the technology company’s stock worth $158,000 after buying an additional 794 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in Guidewire Software by 7.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,205 shares of the technology company’s stock worth $151,000 after purchasing an additional 150 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Guidewire Software by 12.6% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,536 shares of the technology company’s stock worth $174,000 after purchasing an additional 283 shares during the period. Finally, World Asset Management Inc acquired a new position in Guidewire Software in the 3rd quarter worth approximately $232,000.
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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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