Guidewire Software’s (GWRE) “Hold” Rating Reiterated 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.

Several other research analysts have also recently commented on GWRE. Stifel Nicolaus boosted their price target on Guidewire Software from $200.00 to $220.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. Citigroup lifted their price target on Guidewire Software from $123.00 to $165.00 and gave the stock a “neutral” rating in a research note on Monday, September 9th. JPMorgan Chase & Co. upped their price objective on Guidewire Software from $170.00 to $210.00 and gave the company an “overweight” rating in a research note on Thursday, October 3rd. DA Davidson restated a “buy” rating and set a $210.00 price objective on shares of Guidewire Software in a research note on Wednesday, December 4th. Finally, Oppenheimer boosted their target price on shares of Guidewire Software from $220.00 to $230.00 and gave the company an “outperform” rating in a research note on Friday. One analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $193.00.

Guidewire Software Stock Performance

GWRE stock opened at $177.57 on Friday. The stock has a 50-day simple moving average of $191.58 and a 200-day simple moving average of $161.08. The firm has a market cap of $14.83 billion, a P/E ratio of 493.25, a price-to-earnings-growth ratio of 53.58 and a beta of 1.18. Guidewire Software has a 1 year low of $95.02 and a 1 year high of $209.15.

Guidewire Software (NYSE:GWRE) last posted its quarterly earnings data on Thursday, September 5th. The technology company reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.54 by $0.08. The company had revenue of $291.50 million for the quarter, compared to analyst estimates of $283.84 million. Guidewire Software had a negative net margin of 0.62% and a negative return on equity of 1.29%. The business’s quarterly revenue was up 8.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.30 earnings per share. On average, equities research analysts predict that Guidewire Software will post 0.53 EPS for the current year.

Insider Buying and Selling

In other news, CEO Michael George Rosenbaum sold 23,379 shares of the stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $172.16, for a total value of $4,024,928.64. Following the completion of the transaction, the chief executive officer now directly owns 287,662 shares in the company, valued at $49,523,889.92. This trade represents a 7.52 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, President John P. Mullen sold 1,350 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $197.72, for a total transaction of $266,922.00. Following the transaction, the president now owns 189,261 shares in the company, valued at $37,420,684.92. This represents a 0.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 52,601 shares of company stock valued at $9,116,179 in the last three months. 0.48% of the stock is currently owned by corporate insiders.

Institutional Trading of Guidewire Software

Institutional investors have recently modified their holdings of the company. Cetera Investment Advisers lifted its holdings in Guidewire Software by 648.0% in the 1st quarter. Cetera Investment Advisers now owns 18,117 shares of the technology company’s stock valued at $2,114,000 after acquiring an additional 15,695 shares during the last quarter. CWM LLC lifted its stake in Guidewire Software by 80.1% during the second quarter. CWM LLC now owns 5,231 shares of the technology company’s stock valued at $721,000 after purchasing an additional 2,327 shares during the last quarter. Simplicity Wealth LLC boosted its holdings in Guidewire Software by 7.0% during the second quarter. Simplicity Wealth LLC now owns 2,659 shares of the technology company’s stock worth $367,000 after buying an additional 173 shares in the last quarter. QRG Capital Management Inc. acquired a new position in Guidewire Software in the second quarter worth approximately $264,000. Finally, SG Americas Securities LLC increased its holdings in shares of Guidewire Software by 453.8% in the second quarter. SG Americas Securities LLC now owns 19,798 shares of the technology company’s stock valued at $2,730,000 after buying an additional 16,223 shares in the last quarter.

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.