Wall Street analysts forecast that Guidewire Software Inc (NYSE:GWRE) will report $137.46 million in sales for the current fiscal quarter, Zacks reports. Six analysts have provided estimates for Guidewire Software’s earnings. The highest sales estimate is $138.14 million and the lowest is $136.75 million. Guidewire Software posted sales of $123.44 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 11.4%. The firm is expected to issue its next earnings results after the market closes on Tuesday, June 5th.
According to Zacks, analysts expect that Guidewire Software will report full year sales of $648.94 million for the current year, with estimates ranging from $647.00 million to $655.00 million. For the next financial year, analysts forecast that the business will report sales of $763.27 million per share, with estimates ranging from $756.07 million to $782.00 million. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that follow Guidewire Software.
Guidewire Software (NYSE:GWRE) last announced its earnings results on Tuesday, March 6th. The technology company reported $0.33 EPS for the quarter, beating the Thomson Reuters’ 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 business had revenue of $163.80 million for the quarter, compared to analysts’ expectations of $154.34 million. During the same period in the prior year, the business posted $0.28 earnings per share. The firm’s revenue was up 41.7% on a year-over-year basis.
Several analysts recently commented on GWRE shares. DA Davidson started coverage on Guidewire Software in a report on Friday, February 2nd. They issued a “buy” rating and a $92.00 target price on the stock. Stifel Nicolaus boosted their price target on Guidewire Software from $78.00 to $88.00 and gave the company a “hold” rating in a research note on Wednesday, March 7th. KeyCorp reissued a “buy” rating and issued a $91.00 price target on shares of Guidewire Software in a research note on Wednesday, March 7th. William Blair reissued an “outperform” rating on shares of Guidewire Software in a research note on Wednesday, March 7th. Finally, Piper Jaffray Companies reissued an “overweight” rating on shares of Guidewire Software in a research note on Wednesday, March 14th. One research analyst has rated the stock with a sell rating, two have given a hold rating and eleven have issued a buy rating to the company. The company has an average rating of “Buy” and an average price target of $85.44.
In other news, CFO Richard Hart sold 375 shares of the company’s stock in a transaction that occurred on Monday, March 5th. The stock was sold at an average price of $82.50, for a total transaction of $30,937.50. Following the transaction, the chief financial officer now directly owns 3,819 shares of the company’s stock, valued at $315,067.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Marcus Ryu sold 19,568 shares of the company’s stock in a transaction that occurred on Thursday, March 1st. The stock was sold at an average price of $79.78, for a total value of $1,561,135.04. The disclosure for this sale can be found here. Over the last three months, insiders sold 72,831 shares of company stock worth $5,940,771. Insiders own 0.69% of the company’s stock.
Several large investors have recently modified their holdings of GWRE. ARK Investment Management LLC acquired a new position in shares of Guidewire Software during the fourth quarter worth approximately $118,000. American International Group Inc. acquired a new position in shares of Guidewire Software during the fourth quarter worth approximately $121,000. Whittier Trust Co. of Nevada Inc. raised its position in shares of Guidewire Software by 46.9% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 2,140 shares of the technology company’s stock worth $173,000 after purchasing an additional 683 shares during the period. TLP Group LLC acquired a new position in shares of Guidewire Software during the first quarter worth approximately $197,000. Finally, Forward Management LLC acquired a new position in shares of Guidewire Software during the fourth quarter worth approximately $204,000.
GWRE stock traded up $0.56 during trading on Friday, hitting $92.26. The company had a trading volume of 457,241 shares, compared to its average volume of 572,629. Guidewire Software has a one year low of $63.79 and a one year high of $94.46. The stock has a market capitalization of $7.03 billion, a PE ratio of 230.65 and a beta of 1.04.
Guidewire Software Company Profile
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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