Shares of Guidewire Software Inc (NYSE:GWRE) hit a new 52-week high and low on Monday . The company traded as low as $94.46 and last traded at $93.35, with a volume of 12215 shares. The stock had previously closed at $94.12.
A number of analysts have recently weighed in on GWRE shares. DA Davidson started coverage on Guidewire Software in a research report on Friday, February 2nd. They set a “buy” rating and a $92.00 price target on the stock. ValuEngine upgraded Guidewire Software from a “hold” rating to a “buy” rating in a research report on Monday, April 2nd. William Blair reiterated an “outperform” rating on shares of Guidewire Software in a research report on Wednesday, March 7th. Stifel Nicolaus increased their price target on Guidewire Software from $78.00 to $88.00 and gave the stock a “hold” rating in a research report on Wednesday, March 7th. Finally, Piper Jaffray Companies reiterated an “overweight” rating on shares of Guidewire Software in a research report on Wednesday, March 14th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. Guidewire Software has an average rating of “Buy” and an average target price of $85.44.
The stock has a market cap of $7.04 billion, a P/E ratio of 233.25 and a beta of 1.04.
Guidewire Software (NYSE:GWRE) last posted its earnings results on Tuesday, March 6th. The technology company reported $0.33 EPS for the quarter, beating the consensus estimate of $0.19 by $0.14. Guidewire Software had a positive return on equity of 2.54% and a negative net margin of 5.09%. The firm had revenue of $163.80 million for the quarter, compared to analysts’ expectations of $154.34 million. During the same period last year, the firm earned $0.28 EPS. The firm’s revenue was up 41.7% compared to the same quarter last year. equities research analysts forecast that Guidewire Software Inc will post -0.01 earnings per share for the current fiscal year.
In related news, Director Craig Conway sold 400 shares of the firm’s stock in a transaction that occurred on Tuesday, May 15th. The stock was sold at an average price of $89.72, for a total value of $35,888.00. Following the sale, the director now directly owns 9,793 shares in the company, valued at approximately $878,627.96. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Marcus Ryu sold 19,705 shares of the firm’s stock in a transaction that occurred on Monday, April 2nd. The shares were sold at an average price of $79.05, for a total value of $1,557,680.25. Following the completion of the sale, the chief executive officer now owns 32,270 shares in the company, valued at $2,550,943.50. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 72,831 shares of company stock worth $5,940,771. 0.69% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Xact Kapitalforvaltning AB boosted its stake in Guidewire Software by 35.3% during the 1st quarter. Xact Kapitalforvaltning AB now owns 9,195 shares of the technology company’s stock valued at $743,000 after purchasing an additional 2,400 shares in the last quarter. Royal Bank of Canada boosted its stake in Guidewire Software by 6.0% during the 1st quarter. Royal Bank of Canada now owns 47,143 shares of the technology company’s stock valued at $3,812,000 after purchasing an additional 2,670 shares in the last quarter. Atlantic Trust Group LLC boosted its stake in Guidewire Software by 75.8% during the 1st quarter. Atlantic Trust Group LLC now owns 895,968 shares of the technology company’s stock valued at $72,421,000 after purchasing an additional 386,253 shares in the last quarter. Legal & General Group Plc boosted its stake in Guidewire Software by 1.9% during the 1st quarter. Legal & General Group Plc now owns 40,292 shares of the technology company’s stock valued at $3,256,000 after purchasing an additional 733 shares in the last quarter. Finally, Millennium Management LLC bought a new position in Guidewire Software during the 1st quarter valued at $7,646,000.
About Guidewire Software
Guidewire Software, Inc provides software products for property and casualty insurers. It offers Guidewire InsuranceNow, a cloud-based platform that offers policy, billing, and claims management functionality to insurers. The company's products include Guidewire InsuranceSuite comprising Guidewire PolicyCenter, an underwriting and policy administration application; Guidewire ClaimCenter, a lifecycle management application; Guidewire BillingCenter, manages billing, payment plans, agent commissions, and external payment systems; and Guidewire Underwriting Management, a cloud-based underwriting application.
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