Guidewire Software, Inc. (NYSE:GWRE) Rating Increased to Strong-Buy at Zacks Investment Research

Guidewire Software, Inc. (NYSE:GWRE) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Tuesday, September 12th. The brokerage currently has a $92.00 price objective on the technology company’s stock. Zacks Investment Research‘s target price suggests a potential upside of 16.99% from the company’s current price.

According to Zacks, “Guidewire Software, Inc. is a provider of software products for property and casualty (P&C) insurers. The Company’s software serves as a technology platform for P&C insurance carriers. The Company’s Insurance Platform consists of three elements: core transaction processing, data management and analytics, and digital engagement. The Company sells its products to a range of global P&C insurance carriers ranging from global insurers to national carriers to regional carriers. It’s core transaction processing includes Guidewire InsuranceSuite, Guidewire PolicyCenter, Guidewire ClaimCenter, Guidewire BillingCenter and InsuranceSuite Add-on Modules. The Company’s data management and analytics includes Guidewire DataHub, Guidewire InfoCenter, Guidewire Live and Guidewire Predictive Analytics. “

A number of other brokerages have also recently issued reports on GWRE. Stifel Nicolaus increased their price objective on shares of Guidewire Software from $61.00 to $70.00 and gave the company a “hold” rating in a research note on Friday, June 2nd. J P Morgan Chase & Co started coverage on shares of Guidewire Software in a research note on Tuesday, June 13th. They issued an “overweight” rating for the company. BidaskClub upgraded shares of Guidewire Software from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 19th. Piper Jaffray Companies raised shares of Guidewire Software from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $70.00 to $75.00 in a report on Tuesday, June 13th. Finally, KeyCorp reaffirmed a “buy” rating and issued a $75.00 target price on shares of Guidewire Software in a report on Friday, August 25th. Four equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and three have given a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $78.89.

Shares of Guidewire Software (NYSE GWRE) traded up 1.92% on Tuesday, hitting $78.64. The stock had a trading volume of 572,293 shares. Guidewire Software has a one year low of $49.18 and a one year high of $81.46. The stock has a market cap of $5.90 billion, a PE ratio of 280.86 and a beta of 1.24. The company’s 50 day moving average is $73.70 and its 200 day moving average is $66.23.

Guidewire Software (NYSE:GWRE) last released its earnings results on Wednesday, September 6th. The technology company reported $0.59 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.39 by $0.20. Guidewire Software had a net margin of 4.13% and a return on equity of 3.59%. The firm had revenue of $181.10 million during the quarter, compared to analysts’ expectations of $168.61 million. During the same period in the prior year, the company earned $0.22 EPS. The business’s quarterly revenue was up 28.3% compared to the same quarter last year. Equities research analysts predict that Guidewire Software will post $1.03 EPS for the current fiscal year.

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In other Guidewire Software news, CFO Richard Hart sold 375 shares of the firm’s stock in a transaction that occurred on Wednesday, July 5th. The shares were sold at an average price of $68.37, for a total transaction of $25,638.75. Following the sale, the chief financial officer now directly owns 3,880 shares in the company, valued at approximately $265,275.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Ali Kheirolomoom sold 2,047 shares of the firm’s stock in a transaction that occurred on Wednesday, September 20th. The stock was sold at an average price of $77.06, for a total transaction of $157,741.82. Following the sale, the insider now owns 1,941 shares in the company, valued at $149,573.46. The disclosure for this sale can be found here. Insiders sold a total of 110,761 shares of company stock worth $8,205,765 in the last ninety days. Insiders own 0.96% of the company’s stock.

Hedge funds have recently made changes to their positions in the business. Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of Guidewire Software by 58.3% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 13,300 shares of the technology company’s stock worth $749,000 after acquiring an additional 4,900 shares in the last quarter. Capital Fund Management S.A. bought a new position in shares of Guidewire Software during the 1st quarter worth approximately $479,000. US Bancorp DE grew its stake in shares of Guidewire Software by 35.4% during the 1st quarter. US Bancorp DE now owns 8,695 shares of the technology company’s stock worth $490,000 after acquiring an additional 2,273 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of Guidewire Software by 1.9% during the 1st quarter. Bank of New York Mellon Corp now owns 258,731 shares of the technology company’s stock worth $14,574,000 after acquiring an additional 4,760 shares in the last quarter. Finally, Swiss National Bank grew its stake in shares of Guidewire Software by 1.7% during the 1st quarter. Swiss National Bank now owns 121,218 shares of the technology company’s stock worth $6,828,000 after acquiring an additional 2,000 shares in the last quarter.

About Guidewire Software

Guidewire Software, Inc is a provider of software products for property and casualty (P&C) insurers. The Company’s software serves as a technology platform for P&C insurance carriers. The Company’s InsurancePlatform consists of three elements: core transaction processing, data management and analytics, and digital engagement.

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