Guidewire Software (NYSE:GWRE) Lowered to Hold Rating by Zacks Research

by · The Cerbat Gem

Guidewire Software (NYSE:GWRE – Get Free Report) was downgraded by equities researchers at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued on Tuesday,Zacks.com reports.

Several other equities analysts also recently weighed in on the stock. Royal Bank Of Canada lifted their price target on shares of Guidewire Software from $290.00 to $300.00 and gave the company an “outperform” rating in a report on Friday, September 5th. Weiss Ratings restated a “hold (c)” rating on shares of Guidewire Software in a research note on Wednesday, October 8th. DA Davidson reiterated a “neutral” rating and issued a $250.00 price target on shares of Guidewire Software in a research note on Monday. Oppenheimer raised their price target on Guidewire Software from $275.00 to $300.00 and gave the company an “outperform” rating in a report on Friday, September 5th. Finally, Citigroup lowered their price objective on Guidewire Software from $267.00 to $242.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 26th. Nine research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $272.00.

Read Our Latest Stock Analysis on Guidewire Software

Guidewire Software Stock Performance

Shares of GWRE opened at $215.81 on Tuesday. The firm has a market capitalization of $18.35 billion, a P/E ratio of 269.76, a PEG ratio of 13.06 and a beta of 1.08. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.77 and a quick ratio of 2.77. Guidewire Software has a one year low of $165.08 and a one year high of $272.60. The business has a fifty day moving average of $229.10 and a 200 day moving average of $229.08.

Guidewire Software (NYSE:GWRE – Get Free Report) last posted its earnings results on Wednesday, December 3rd. The technology company reported $0.66 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.66. The company had revenue of $332.64 million for the quarter, compared to the consensus estimate of $316.62 million. Guidewire Software had a return on equity of 9.00% and a net margin of 5.81%.Guidewire Software’s revenue was up 26.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.43 earnings per share. As a group, sell-side analysts anticipate that Guidewire Software will post 0.52 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Michael George Rosenbaum sold 1,400 shares of the stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $213.44, for a total transaction of $298,816.00. Following the completion of the transaction, the chief executive officer directly owned 249,558 shares in the company, valued at approximately $53,265,659.52. This represents a 0.56% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President John P. Mullen sold 3,000 shares of the company’s stock in a transaction on Monday, December 1st. The shares were sold at an average price of $213.44, for a total transaction of $640,320.00. Following the sale, the president directly owned 149,958 shares in the company, valued at approximately $32,007,035.52. The trade was a 1.96% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 112,342 shares of company stock valued at $27,113,960 in the last quarter. 0.46% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Guidewire Software

Several large investors have recently added to or reduced their stakes in GWRE. Allworth Financial LP lifted its stake in shares of Guidewire Software by 56.0% in the 3rd quarter. Allworth Financial LP now owns 1,137 shares of the technology company’s stock valued at $261,000 after purchasing an additional 408 shares during the last quarter. IFP Advisors Inc increased its position in shares of Guidewire Software by 4.6% during the 3rd quarter. IFP Advisors Inc now owns 1,104 shares of the technology company’s stock valued at $254,000 after purchasing an additional 49 shares during the last quarter. Swiss Life Asset Management Ltd raised its holdings in Guidewire Software by 78.9% during the 3rd quarter. Swiss Life Asset Management Ltd now owns 3,700 shares of the technology company’s stock valued at $850,000 after buying an additional 1,632 shares during the period. Cambria Investment Management L.P. bought a new stake in Guidewire Software in the third quarter worth $265,000. Finally, CIBC Private Wealth Group LLC boosted its stake in Guidewire Software by 5.4% during the third quarter. CIBC Private Wealth Group LLC now owns 189,033 shares of the technology company’s stock worth $43,451,000 after buying an additional 9,747 shares during the period.

About Guidewire Software

(Get Free Report)

Guidewire Software, Inc provides a platform for property and casualty (P&C) insurers worldwide. The company offers Guidewire InsuranceSuite Cloud, such as PolicyCenter Cloud, BillingCenter Cloud, and ClaimCenter Cloud applications. It also provides Guidewire InsuranceNow, a cloud-based platform that offers policy, billing, and claims management functionality to insurers; and Guidewire InsuranceSuite for Self-Managed.

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