Guidewire Software’s (GWRE) Market Outperform Rating Reiterated at JMP Securities

JMP Securities restated their market outperform rating on shares of Guidewire Software (NYSE:GWRE) in a research note released on Friday morning,Benzinga reports. The firm currently has a $231.00 price target on the technology company’s stock.

GWRE has been the subject of several other reports. Royal Bank of Canada restated an “outperform” rating and issued a $215.00 price target on shares of Guidewire Software in a research report on Tuesday, November 19th. Wells Fargo & Company lifted their target price on Guidewire Software from $205.00 to $215.00 and gave the stock an “overweight” rating in a report on Tuesday, November 19th. Stifel Nicolaus upped their price target on Guidewire Software from $200.00 to $220.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. Robert W. Baird lifted their price objective on Guidewire Software from $204.00 to $220.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 19th. Finally, DA Davidson reiterated a “buy” rating and issued a $210.00 target price on shares of Guidewire Software in a report on Wednesday. One investment 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’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $193.00.

Guidewire Software Stock Down 14.0 %

Shares of GWRE stock 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’s fifty day simple moving average is $191.58 and its 200 day simple moving average is $160.55. The firm has a market capitalization of $14.83 billion, a P/E ratio of 493.25, a P/E/G ratio of 53.58 and a beta of 1.18.

Guidewire Software (NYSE:GWRE) last released its quarterly earnings results on Thursday, September 5th. The technology company reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.08. The company had revenue of $291.50 million for the quarter, compared to analysts’ expectations of $283.84 million. Guidewire Software had a negative return on equity of 1.29% and a negative net margin of 0.62%. The business’s quarterly revenue was up 8.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.30 earnings per share. As a group, equities research analysts expect that Guidewire Software will post 0.53 EPS 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 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 transaction, the chief executive officer now 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 filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President John P. Mullen sold 1,350 shares of Guidewire Software stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $197.72, for a total value of $266,922.00. Following the completion of the sale, the president now directly owns 189,261 shares of the company’s stock, valued at approximately $37,420,684.92. This trade represents a 0.71 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 52,601 shares of company stock worth $9,116,179. 0.48% of the stock is owned by company insiders.

Institutional Trading of Guidewire Software

Several hedge funds and other institutional investors have recently modified their holdings of GWRE. American Trust boosted its holdings in Guidewire Software by 55.1% in the 3rd quarter. American Trust now owns 2,898 shares of the technology company’s stock worth $530,000 after buying an additional 1,029 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in shares of Guidewire Software during the third quarter worth $125,000. Sanctuary Advisors LLC grew its position in shares of 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 purchasing an additional 2,487 shares in the last quarter. Virtu Financial LLC grew its position in shares of 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 purchasing an additional 12,695 shares in the last quarter. Finally, Neo Ivy Capital Management purchased a new stake in Guidewire Software during the 3rd quarter worth about $1,774,000.

Guidewire Software Company Profile

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.