Zacks Investment Research Upgrades Guidewire Software, Inc. (NYSE:GWRE) to Buy

Guidewire Software, Inc. (NYSE:GWRE) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday, October 17th. The brokerage presently has a $88.00 price objective on the technology company’s stock. Zacks Investment Research‘s target price indicates a potential upside of 7.45% from the stock’s previous close.

According to Zacks, “Guidewire Software, a property and casualty insurance based software solutions provider, reported better-than-expected fiscal fourth-quarter 2017 results. The impressive top and bottom lines were driven by higher service activities, an additional $16.2 million of hosting revenues from ISCS, which the company acquired in February 2017; and certain early payments from term licenses. Notably, regular customer addition via cross-selling of its product suites is a positive. The company’s shift from term license to a cloud-based model is a tailwind for the company in the long run as the industry shifts toward cloud infrastructure. However, the costs related to the shift will put pressure on margins in the near term and affect the top line as term license revenues include advance payments whereas subscription-based revenues are a bit delayed. Nevertheless, the company’s shares have outperformed the industry on a year-to-date basis.”

Several other equities research analysts have also weighed in on GWRE. BidaskClub raised Guidewire Software from a “buy” rating to a “strong-buy” rating in a research note on Thursday, August 3rd. ValuEngine raised Guidewire Software from a “sell” rating to a “hold” rating in a research report on Thursday, August 3rd. TheStreet cut Guidewire Software from a “b-” rating to a “c+” rating in a research report on Monday, August 14th. KeyCorp reaffirmed a “buy” rating and issued a $75.00 target price on shares of Guidewire Software in a research report on Friday, August 25th. Finally, Piper Jaffray Companies reaffirmed a “buy” rating and issued a $80.00 target price on shares of Guidewire Software in a research report on Sunday, August 27th. Five equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $80.11.

Shares of Guidewire Software (GWRE) traded up $0.65 during trading on Tuesday, reaching $81.61. 498,366 shares of the company’s stock were exchanged, compared to its average volume of 494,997. The stock has a market cap of $6,072.79, a price-to-earnings ratio of 192.76, a price-to-earnings-growth ratio of 16.23 and a beta of 1.23.

Guidewire Software (NYSE:GWRE) last issued its quarterly earnings results on Wednesday, September 6th. The technology company reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.20. The company had revenue of $181.10 million for the quarter, compared to analysts’ expectations of $168.61 million. Guidewire Software had a return on equity of 3.59% and a net margin of 4.13%. The firm’s revenue for the quarter was up 28.3% on a year-over-year basis. During the same period last year, the firm earned $0.22 EPS. equities analysts anticipate that Guidewire Software will post 0.32 earnings per share for the current year.

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In other news, insider Scott Roza sold 782 shares of Guidewire Software stock in a transaction dated Monday, October 16th. The stock was sold at an average price of $78.51, for a total value of $61,394.82. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Marcus Ryu sold 25,000 shares of Guidewire Software stock in a transaction dated Friday, September 1st. The stock was 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 in the company, valued at $10,506,385.89. The disclosure for this sale can be found here. In the last three months, insiders have sold 114,266 shares of company stock valued at $8,857,459. Insiders own 0.96% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of GWRE. D.A. Davidson & CO. increased its stake in Guidewire Software by 2,270.8% during the second quarter. D.A. Davidson & CO. now owns 1,541 shares of the technology company’s stock valued at $105,000 after acquiring an additional 1,476 shares during the period. Tower Research Capital LLC TRC increased its stake in Guidewire Software by 424.4% during the first quarter. Tower Research Capital LLC TRC now owns 2,601 shares of the technology company’s stock valued at $146,000 after acquiring an additional 2,105 shares during the period. The Manufacturers Life Insurance Company increased its stake 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 valued at $151,000 after acquiring an additional 150 shares during the period. BNP Paribas Arbitrage SA boosted its holdings in Guidewire Software by 64.2% during the third quarter. BNP Paribas Arbitrage SA now owns 2,030 shares of the technology company’s stock valued at $158,000 after purchasing an additional 794 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings 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 valued at $174,000 after purchasing an additional 283 shares in the last quarter.

Guidewire Software Company Profile

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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