Guidewire Software (NYSE:GWRE) issued its earnings results on Tuesday, March 6th. The technology company reported $0.33 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.19 by $0.14, Bloomberg Earnings reports. The firm had revenue of $163.80 million during the quarter, compared to analyst estimates of $154.34 million. Guidewire Software had a negative net margin of 5.09% and a positive return on equity of 2.54%. Guidewire Software’s revenue for the quarter was up 41.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.28 earnings per share. Guidewire Software updated its Q3 guidance to ($0.03)-0.00 EPS and its FY18 guidance to $0.98-1.04 EPS.
Shares of Guidewire Software (NYSE GWRE) traded down $0.26 on Wednesday, hitting $86.72. 668,424 shares of the stock traded hands, compared to its average volume of 614,178. Guidewire Software has a 1-year low of $54.74 and a 1-year high of $92.65. The stock has a market capitalization of $6,680.10, a P/E ratio of -234.38 and a beta of 1.08.
A number of research firms recently issued reports on GWRE. Piper Jaffray Companies reaffirmed an “overweight” rating on shares of Guidewire Software in a research note on Wednesday. William Blair reaffirmed an “outperform” rating on shares of Guidewire Software in a research note on Wednesday, March 7th. DA Davidson set a $100.00 price target on shares of Guidewire Software and gave the company a “buy” rating in a research note on Thursday, March 8th. KeyCorp reaffirmed a “buy” rating and set a $91.00 price target on shares of Guidewire Software in a research note on Wednesday, March 7th. Finally, Stifel Nicolaus upped their price target on shares of Guidewire Software from $78.00 to $88.00 and gave the company a “hold” rating in a research note on Wednesday, March 7th. One research analyst has rated the stock with a sell rating, three have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $83.90.
In related news, CFO Richard Hart sold 374 shares of the firm’s stock in a transaction dated Friday, January 5th. The shares were sold at an average price of $77.00, for a total value of $28,798.00. Following the transaction, the chief financial officer now owns 3,879 shares of the company’s stock, valued at approximately $298,683. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Craig Conway sold 600 shares of the firm’s stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $73.49, for a total transaction of $44,094.00. Following the completion of the transaction, the director now directly owns 10,904 shares in the company, valued at approximately $801,334.96. The disclosure for this sale can be found here. In the last three months, insiders sold 91,712 shares of company stock worth $7,012,670. Insiders own 0.69% of the company’s stock.
An institutional investor recently raised its position in Guidewire Software stock. The Manufacturers Life Insurance Company increased its stake in Guidewire Software Inc (NYSE:GWRE) by 7.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,205 shares of the technology company’s stock after buying an additional 150 shares during the period. The Manufacturers Life Insurance Company ‘s holdings in Guidewire Software were worth $151,000 as of its most recent SEC filing.
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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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