Guidewire Software (GWRE) Issues Q2 Earnings Guidance

Guidewire Software (NYSE:GWRE) updated its second quarter earnings guidance on Tuesday. The company provided earnings per share guidance of $0.17-0.21 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.19. The company issued revenue guidance of $152-156 million, compared to the consensus revenue estimate of $154.50 million.Guidewire Software also updated its FY18 guidance to $0.82-0.90 EPS.

A number of research firms recently weighed in on GWRE. Zacks Investment Research lowered shares of Guidewire Software from a hold rating to a sell rating in a research report on Tuesday, November 7th. Deutsche Bank restated a buy rating and set a $85.00 price target (up from $80.00) on shares of Guidewire Software in a research report on Monday, October 2nd. BidaskClub lowered shares of Guidewire Software from a strong-buy rating to a buy rating in a research report on Wednesday, October 18th. KeyCorp restated a buy rating and set a $86.00 price target on shares of Guidewire Software in a research report on Friday, September 29th. Finally, Citigroup set a $85.00 price target on shares of Guidewire Software and gave the stock a buy rating in a research report on Thursday, November 30th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Guidewire Software presently has an average rating of Buy and an average price target of $80.11.

Guidewire Software (GWRE) traded up $0.12 during trading hours on Tuesday, reaching $77.20. 375,917 shares of the company’s stock traded hands, compared to its average volume of 553,133. The firm has a market cap of $5,810.00, a price-to-earnings ratio of 308.80, a price-to-earnings-growth ratio of 87.43 and a beta of 1.17. Guidewire Software has a 12 month low of $50.63 and a 12 month high of $83.52.

Guidewire Software (NYSE:GWRE) last released its quarterly earnings results on Wednesday, November 29th. The technology company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.10). The company had revenue of $108.20 million during the quarter, compared to analysts’ expectations of $100.61 million. Guidewire Software had a net margin of 3.82% and a return on equity of 3.29%. Guidewire Software’s revenue was up 15.0% on a year-over-year basis. During the same period last year, the firm posted $0.02 earnings per share. analysts forecast that Guidewire Software will post 0.06 EPS for the current fiscal year.

In related news, insider Scott Roza sold 782 shares of the company’s stock in a transaction that occurred on Monday, October 16th. The shares were sold at an average price of $78.51, for a total transaction of $61,394.82. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Richard Hart sold 1,114 shares of the company’s stock in a transaction that occurred on Monday, December 11th. The stock was sold at an average price of $72.80, for a total transaction of $81,099.20. Following the sale, the chief financial officer now directly owns 4,776 shares in the company, valued at $347,692.80. The disclosure for this sale can be found here. Insiders sold a total of 101,353 shares of company stock worth $7,600,168 over the last three months. Insiders own 0.69% of the company’s stock.

A hedge fund recently raised its stake in Guidewire Software stock. The Manufacturers Life Insurance Company raised its position in Guidewire Software Inc (NYSE:GWRE) by 7.3% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,205 shares of the technology company’s stock after purchasing an additional 150 shares during the period. The Manufacturers Life Insurance Company ‘s holdings in Guidewire Software were worth $151,000 as of its most recent filing with the Securities and Exchange Commission.

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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.

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