Guidewire Software, Inc. (NYSE:GWRE) Downgraded to Sell at Zacks Investment Research

Zacks Investment Research lowered shares of Guidewire Software, Inc. (NYSE:GWRE) from a hold rating to a sell rating in a report published on Tuesday, November 7th.

According to Zacks, “Guidewire Software's costs related to the shift from term license to a cloud-based model will put pressure on margins in the near term. The same will also hurt the top line as term license revenues include advance payments whereas subscription-based revenues are a bit delayed. However, it is a tailwind for the company in the long run as the industry shifts toward cloud infrastructure. Notably, regular customer addition via cross-selling of its product suites is a positive for the company. The company’s shares have outperformed the industry on a year-to-date basis.”

Several other analysts also recently weighed in on the stock. BidaskClub downgraded shares of Guidewire Software from a strong-buy rating to a buy rating in a report on Wednesday, October 18th. Deutsche Bank AG reaffirmed a buy rating and issued a $85.00 target price (up previously from $80.00) on shares of Guidewire Software in a report on Monday, October 2nd. KeyCorp reaffirmed a buy rating and issued a $86.00 target price on shares of Guidewire Software in a report on Friday, September 29th. TheStreet raised shares of Guidewire Software from a c+ rating to a b rating in a report on Wednesday, September 6th. Finally, Citigroup Inc. reissued a buy rating and set a $85.00 price objective (up previously from $79.00) on shares of Guidewire Software in a report on Thursday, September 7th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Guidewire Software has an average rating of Buy and a consensus price target of $80.11.

Shares of Guidewire Software (NYSE:GWRE) opened at $82.77 on Tuesday. The company has a market cap of $6,240.00, a price-to-earnings ratio of 197.07, a P/E/G ratio of 26.21 and a beta of 1.23. Guidewire Software has a one year low of $49.18 and a one year high of $83.52.

Guidewire Software (NYSE:GWRE) last issued its earnings results on Wednesday, September 6th. The technology company reported $0.59 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.39 by $0.20. The business had revenue of $181.10 million for the quarter, compared to the consensus estimate of $168.61 million. Guidewire Software had a net margin of 4.13% and a return on equity of 3.59%. The business’s quarterly revenue was up 28.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.22 earnings per share. research analysts expect that Guidewire Software will post 0.2 EPS for the current year.

In other news, CEO Marcus Ryu sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $75.51, for a total value of $1,887,750.00. Following the completion of the transaction, the chief executive officer now owns 139,139 shares of the company’s stock, valued at $10,506,385.89. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Craig Conway sold 600 shares of the business’s stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $79.23, for a total transaction of $47,538.00. Following the completion of the transaction, the director now directly owns 8,847 shares of the company’s stock, valued at approximately $700,947.81. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 113,621 shares of company stock valued at $8,821,024. 0.69% of the stock is currently owned by company insiders.

A number of hedge funds have recently modified their holdings of the stock. Teacher Retirement System of Texas increased its position in Guidewire Software by 1.1% during the second quarter. Teacher Retirement System of Texas now owns 5,906 shares of the technology company’s stock worth $406,000 after purchasing an additional 63 shares during the last quarter. Pacer Advisors Inc. increased its position in Guidewire Software by 1.0% during the second quarter. Pacer Advisors Inc. now owns 8,178 shares of the technology company’s stock worth $562,000 after purchasing an additional 78 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in Guidewire Software by 7.3% during the second quarter. The Manufacturers Life Insurance Company now owns 2,205 shares of the technology company’s stock worth $151,000 after purchasing an additional 150 shares during the last quarter. Aperio Group LLC increased its position in Guidewire Software by 5.3% during the second quarter. Aperio Group LLC now owns 5,369 shares of the technology company’s stock worth $369,000 after purchasing an additional 269 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in Guidewire Software by 12.6% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,536 shares of the technology company’s stock worth $174,000 after purchasing an additional 283 shares during the last quarter.

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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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