Needham & Company LLC Reaffirms Hold Rating for Guidewire Software (NYSE:GWRE)

by · The Markets Daily

Needham & Company LLC reissued their hold rating on shares of Guidewire Software (NYSE:GWRE – Free Report) in a report released on Friday, Benzinga reports.

GWRE has been the subject of a number of other research reports. Stifel Nicolaus lifted their target price on shares of Guidewire Software from $175.00 to $200.00 and gave the stock a buy rating in a research note on Thursday, September 26th. Royal Bank of Canada lifted their target price on Guidewire Software from $170.00 to $180.00 and gave the stock an outperform rating in a report on Friday, September 6th. The Goldman Sachs Group increased their price target on Guidewire Software from $146.00 to $170.00 and gave the stock a buy rating in a report on Monday, July 22nd. Oppenheimer lifted their price objective on shares of Guidewire Software from $185.00 to $200.00 and gave the company an outperform rating in a research note on Friday, October 4th. Finally, Robert W. Baird increased their target price on shares of Guidewire Software from $175.00 to $204.00 and gave the stock an outperform rating in a research note on Tuesday, October 8th. One analyst has rated the stock with a sell rating, two have given a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of Moderate Buy and an average target price of $178.62.

View Our Latest Research Report on GWRE

Guidewire Software Trading Up 1.3 %

NYSE GWRE opened at $185.82 on Friday. The firm has a market capitalization of $15.36 billion, a PE ratio of -1,429.38 and a beta of 1.19. The business’s 50-day moving average price is $161.87 and its two-hundred day moving average price is $138.91. Guidewire Software has a 12 month low of $85.15 and a 12 month high of $187.85.

Guidewire Software (NYSE:GWRE – Get Free Report) last announced its earnings results on Thursday, September 5th. The technology company reported $0.62 EPS for the quarter, beating the consensus estimate of $0.54 by $0.08. Guidewire Software had a negative return on equity of 1.29% and a negative net margin of 0.62%. The business had revenue of $291.50 million for the quarter, compared to analysts’ expectations of $283.84 million. During the same period in the prior year, the business posted $0.30 earnings per share. The firm’s revenue was up 8.0% on a year-over-year basis. As a group, analysts forecast that Guidewire Software will post 0.53 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Guidewire Software news, insider James Winston King sold 4,514 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $172.66, for a total transaction of $779,387.24. Following the completion of the sale, the insider now directly owns 48,237 shares of the company’s stock, valued at approximately $8,328,600.42. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CEO Michael George Rosenbaum sold 23,379 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The shares were 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 directly owns 287,662 shares of the company’s stock, valued at $49,523,889.92. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider James Winston King sold 4,514 shares of the company’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $172.66, for a total transaction of $779,387.24. Following the completion of the sale, the insider now directly owns 48,237 shares of the company’s stock, valued at $8,328,600.42. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 52,601 shares of company stock worth $8,984,892 in the last quarter. Insiders own 0.38% of the company’s stock.

Hedge Funds Weigh In On Guidewire Software

Hedge funds and other institutional investors have recently modified their holdings of the business. Transcendent Capital Group LLC purchased a new stake in shares of Guidewire Software during the fourth quarter valued at approximately $27,000. ORG Partners LLC bought a new position in Guidewire Software in the 1st quarter valued at $29,000. Rothschild Investment LLC purchased a new stake in shares of Guidewire Software during the 2nd quarter valued at $31,000. Lynx Investment Advisory bought a new stake in shares of Guidewire Software during the 2nd quarter worth $41,000. Finally, DT Investment Partners LLC purchased a new position in shares of Guidewire Software in the 2nd quarter worth about $41,000.

About Guidewire Software

(Get Free Report)

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.

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