Guidewire Software Inc (NYSE:GWRE) Receives Consensus Recommendation of “Buy” from Brokerages

Guidewire Software Inc (NYSE:GWRE) has received an average rating of “Buy” from the thirteen research firms that are currently covering the firm, MarketBeat Ratings reports. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $108.78.

A number of analysts have issued reports on GWRE shares. Piper Jaffray Companies lifted their price objective on Cisco Systems from $52.00 to $58.00 and gave the stock an “overweight” rating in a research note on Thursday, May 16th. Zacks Investment Research downgraded GENEL ENERGY PL/ADR from a “buy” rating to a “hold” rating in a research note on Tuesday, May 7th. Finally, ValuEngine raised WPP from a “sell” rating to a “hold” rating in a research note on Wednesday, June 19th.

NYSE:GWRE opened at $103.34 on Wednesday. The company has a current ratio of 6.38, a quick ratio of 6.38 and a debt-to-equity ratio of 0.21. Guidewire Software has a 1 year low of $73.82 and a 1 year high of $109.06. The business has a 50 day moving average price of $100.98. The company has a market cap of $8.48 billion, a P/E ratio of 1,148.22, a price-to-earnings-growth ratio of 22.93 and a beta of 1.19.

Guidewire Software (NYSE:GWRE) last released its quarterly earnings data on Tuesday, June 4th. The technology company reported $0.18 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.08 by $0.10. Guidewire Software had a return on equity of 4.76% and a net margin of 10.66%. The business had revenue of $162.90 million for the quarter, compared to the consensus estimate of $155.23 million. During the same quarter in the previous year, the company posted $0.05 EPS. The company’s revenue was up 14.6% compared to the same quarter last year. On average, equities research analysts expect that Guidewire Software will post 0.48 EPS for the current fiscal year.

In other news, insider Steven P. Sherry sold 4,716 shares of the business’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $100.52, for a total transaction of $474,052.32. Following the transaction, the insider now owns 3,268 shares of the company’s stock, valued at approximately $328,499.36. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Curtis Smith sold 703 shares of the business’s stock in a transaction that occurred on Wednesday, June 19th. The shares were sold at an average price of $99.49, for a total value of $69,941.47. Following the transaction, the chief financial officer now directly owns 5,511 shares in the company, valued at approximately $548,289.39. The disclosure for this sale can be found here. In the last three months, insiders have sold 38,702 shares of company stock worth $3,799,748. Corporate insiders own 0.69% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Meritage Group LP bought a new position in Guidewire Software in the 1st quarter valued at $109,020,000. Norges Bank bought a new position in Guidewire Software in the 4th quarter valued at $38,279,000. Wasatch Advisors Inc. grew its position in Guidewire Software by 31.1% in the 1st quarter. Wasatch Advisors Inc. now owns 1,005,733 shares of the technology company’s stock valued at $97,717,000 after acquiring an additional 238,659 shares during the last quarter. Principal Financial Group Inc. grew its position in Guidewire Software by 11.1% in the 1st quarter. Principal Financial Group Inc. now owns 1,942,670 shares of the technology company’s stock valued at $188,749,000 after acquiring an additional 194,763 shares during the last quarter. Finally, Jackson Square Partners LLC bought a new position in Guidewire Software in the 1st quarter valued at $15,147,000.

Guidewire Software Company Profile

Guidewire Software, Inc provides software products for property and casualty insurers worldwide. The company offers Guidewire InsuranceSuite comprising Guidewire PolicyCenter, BillingCenter, and ClaimCenter applications. It also provides Guidewire InsuranceNow, a cloud-based platform, which offers policy, billing, and claims management functionality to insurers that prefer to subscribe to a cloud-based solution.

See Also: Rule of 72

Analyst Recommendations for Guidewire Software (NYSE:GWRE)

Receive News & Ratings for Guidewire Software Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Guidewire Software and related companies with MarketBeat.com's FREE daily email newsletter.