Guidewire Software, Inc. (NYSE:GWRE) Cut to “Buy” at BidaskClub

Guidewire Software, Inc. (NYSE:GWRE) was downgraded by equities research analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Wednesday, October 18th.

A number of other research firms also recently weighed in on GWRE. Citigroup Inc. reissued a “buy” rating and set a $85.00 target price (up from $79.00) on shares of Guidewire Software in a research report on Thursday, September 7th. TheStreet upgraded shares of Guidewire Software from a “c+” rating to a “b” rating in a research note on Wednesday, September 6th. Zacks Investment Research upgraded shares of Guidewire Software from a “hold” rating to a “strong-buy” rating and set a $92.00 price target on the stock in a research note on Tuesday, September 12th. Deutsche Bank AG restated a “buy” rating and set a $85.00 price target (up from $80.00) on shares of Guidewire Software in a research note on Monday, October 2nd. Finally, KeyCorp restated a “buy” rating and set a $86.00 price target on shares of Guidewire Software in a research note on Friday, September 29th. Five investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. Guidewire Software has a consensus rating of “Buy” and an average target price of $80.11.

Shares of Guidewire Software (NYSE:GWRE) traded up 0.62% during midday trading on Wednesday, reaching $77.70. 426,027 shares of the company’s stock traded hands. Guidewire Software has a 12 month low of $49.18 and a 12 month high of $81.46. The firm has a market cap of $5.83 billion, a PE ratio of 277.50 and a beta of 1.22. The stock has a 50-day moving average price of $77.96 and a 200 day moving average price of $70.22.

Guidewire Software (NYSE:GWRE) last released its earnings results on Wednesday, September 6th. The technology company reported $0.59 earnings per share for the quarter, beating the Zacks’ 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 firm had revenue of $181.10 million during the quarter, compared to the consensus estimate of $168.61 million. During the same period in the prior year, the firm earned $0.22 EPS. The company’s revenue was up 28.3% compared to the same quarter last year. Equities research analysts predict that Guidewire Software will post $0.97 earnings per share for the current year.

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In other news, Director Craig Conway sold 600 shares of the stock in a transaction on Monday, October 16th. The shares were sold at an average price of $78.51, for a total value of $47,106.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Marcus Ryu sold 25,000 shares of the stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $72.34, for a total transaction of $1,808,500.00. Following the completion of the transaction, the chief executive officer now directly owns 164,139 shares in the company, valued at approximately $11,873,815.26. The disclosure for this sale can be found here. Insiders sold a total of 114,870 shares of company stock worth $8,738,930 over the last quarter. Corporate insiders own 0.96% of the company’s stock.

Large investors have recently modified their holdings of the company. D.A. Davidson & CO. increased its holdings in shares of Guidewire Software by 2,270.8% in the 2nd 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 during the last quarter. Tower Research Capital LLC TRC increased its holdings in shares of Guidewire Software by 424.4% in the 1st quarter. Tower Research Capital LLC TRC now owns 2,601 shares of the technology company’s stock worth $146,000 after buying an additional 2,105 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of 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 buying an additional 150 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of 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 buying an additional 283 shares during the last quarter. Finally, First Trust Advisors LP bought a new position in shares of Guidewire Software in the 2nd quarter worth $214,000.

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. The Company’s InsurancePlatform consists of three elements: core transaction processing, data management and analytics, and digital engagement.

Analyst Recommendations for Guidewire Software (NYSE:GWRE)

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