Guidewire Software’s (GWRE) “Hold” Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reissued their hold rating on shares of Guidewire Software (NYSE:GWRE) in a research report released on Friday,Benzinga reports.

Other analysts have also issued research reports about the company. Oppenheimer increased their price objective on Guidewire Software from $220.00 to $230.00 and gave the company an “outperform” rating in a research note on Friday. Royal Bank of Canada restated an “outperform” rating and set a $215.00 target price on shares of Guidewire Software in a report on Tuesday, November 19th. JMP Securities upped their target price on Guidewire Software from $200.00 to $231.00 and gave the company a “market outperform” rating in a report on Monday, November 25th. Citigroup upped their target price on Guidewire Software from $123.00 to $165.00 and gave the company a “neutral” rating in a report on Monday, September 9th. Finally, Wells Fargo & Company upped their target price on Guidewire Software from $205.00 to $215.00 and gave the company an “overweight” rating in a report on Tuesday, November 19th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $193.00.

Guidewire Software Stock Down 14.0 %

Shares of GWRE opened at $177.57 on Friday. Guidewire Software has a twelve month low of $95.02 and a twelve month high of $209.15. The stock has a market cap of $14.83 billion, a PE ratio of 493.25, a P/E/G ratio of 53.58 and a beta of 1.18. The business’s 50-day moving average price is $191.58 and its 200-day moving average price is $160.55.

Guidewire Software (NYSE:GWRE) last issued its earnings results on Thursday, September 5th. The technology company reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.08. The business had revenue of $291.50 million during the quarter, compared to analyst estimates of $283.84 million. Guidewire Software had a negative return on equity of 1.29% and a negative net margin of 0.62%. Guidewire Software’s revenue for the quarter was up 8.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.30 earnings per share. Analysts expect that Guidewire Software will post 0.53 earnings per share for the current fiscal year.

Insider Activity at Guidewire Software

In other news, CEO Michael George Rosenbaum sold 23,379 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $172.16, for a total transaction of $4,024,928.64. Following the sale, the chief executive officer now directly owns 287,662 shares of the company’s stock, valued at $49,523,889.92. This represents a 7.52 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John P. Mullen sold 6,718 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $172.16, for a total value of $1,156,570.88. Following the sale, the insider now directly owns 160,099 shares in the company, valued at $27,562,643.84. This trade represents a 4.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 52,601 shares of company stock worth $9,116,179. 0.48% of the stock is owned by company insiders.

Hedge Funds Weigh In On Guidewire Software

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. American Trust raised its stake in Guidewire Software by 55.1% in the third quarter. American Trust now owns 2,898 shares of the technology company’s stock valued at $530,000 after buying an additional 1,029 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in Guidewire Software in the third quarter valued at about $125,000. Sanctuary Advisors LLC raised its stake in Guidewire Software by 79.9% in the third quarter. Sanctuary Advisors LLC now owns 5,599 shares of the technology company’s stock valued at $1,135,000 after buying an additional 2,487 shares during the last quarter. Virtu Financial LLC raised its stake in Guidewire Software by 649.4% in the third quarter. Virtu Financial LLC now owns 14,650 shares of the technology company’s stock valued at $2,680,000 after buying an additional 12,695 shares during the last quarter. Finally, Neo Ivy Capital Management purchased a new stake in Guidewire Software in the third quarter valued at about $1,774,000.

About Guidewire Software

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.