Brokerages forecast that Guidewire Software Inc (NYSE:GWRE) will report $137.60 million in sales for the current quarter, Zacks Investment Research reports. Five analysts have issued estimates for Guidewire Software’s earnings. The lowest sales estimate is $136.80 million and the highest is $138.14 million. Guidewire Software posted sales of $123.44 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 11.5%. The business is expected to issue its next earnings results on Thursday, June 7th.
According to Zacks, analysts expect that Guidewire Software will report full year sales of $137.60 million for the current fiscal year, with estimates ranging from $647.00 million to $655.00 million. For the next financial year, analysts anticipate that the company will report sales of $758.23 million per share, with estimates ranging from $735.00 million to $782.00 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Guidewire Software.
Guidewire Software (NYSE:GWRE) last issued its quarterly earnings results on Tuesday, March 6th. The technology company reported $0.33 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.19 by $0.14. Guidewire Software had a negative net margin of 5.09% and a positive return on equity of 2.54%. The company had revenue of $163.80 million during the quarter, compared to analysts’ expectations of $154.34 million. During the same quarter last year, the company posted $0.28 EPS. The firm’s revenue was up 41.7% compared to the same quarter last year.
A number of brokerages have recently weighed in on GWRE. Citigroup set a $85.00 price objective on shares of Guidewire Software and gave the company a “buy” rating in a report on Thursday, November 30th. William Blair restated an “outperform” rating on shares of Guidewire Software in a report on Wednesday, March 7th. Stifel Nicolaus raised their price objective on shares of Guidewire Software from $78.00 to $88.00 and gave the company a “hold” rating in a report on Wednesday, March 7th. KeyCorp restated a “buy” rating and issued a $91.00 price objective on shares of Guidewire Software in a report on Wednesday, March 7th. Finally, DA Davidson set a $100.00 price objective on shares of Guidewire Software and gave the company a “buy” rating in a report on Thursday, March 8th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $83.90.
Shares of Guidewire Software (NYSE GWRE) traded down $1.66 on Friday, hitting $86.98. 1,078,692 shares of the stock were exchanged, compared to its average volume of 613,039. Guidewire Software has a fifty-two week low of $54.74 and a fifty-two week high of $92.65. The firm has a market cap of $6,628.10, a price-to-earnings ratio of -235.08 and a beta of 1.08.
In related news, Director Andrew William Fraser Brown sold 2,585 shares of Guidewire Software stock in a transaction on Friday, January 12th. The shares were sold at an average price of $77.26, for a total transaction of $199,717.10. Following the sale, the director now directly owns 3,846 shares in the company, valued at approximately $297,141.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Richard Hart sold 7,566 shares of Guidewire Software stock in a transaction on Wednesday, December 20th. The stock was sold at an average price of $73.00, for a total transaction of $552,318.00. Following the sale, the chief financial officer now owns 7,279 shares in the company, valued at $531,367. The disclosure for this sale can be found here. Insiders have sold a total of 91,712 shares of company stock worth $7,012,670 over the last quarter. 0.69% of the stock is owned by company insiders.
A number of large investors have recently made changes to their positions in the stock. Bamco Inc. NY increased its stake in Guidewire Software by 22.7% in the fourth quarter. Bamco Inc. NY now owns 6,236,133 shares of the technology company’s stock valued at $463,095,000 after purchasing an additional 1,153,724 shares during the period. BlackRock Inc. increased its stake in Guidewire Software by 3.4% in the fourth quarter. BlackRock Inc. now owns 3,334,025 shares of the technology company’s stock valued at $247,582,000 after purchasing an additional 109,145 shares during the period. Janus Henderson Group PLC increased its stake in Guidewire Software by 0.8% in the third quarter. Janus Henderson Group PLC now owns 1,666,688 shares of the technology company’s stock valued at $129,768,000 after purchasing an additional 12,949 shares during the period. Alliancebernstein L.P. increased its stake in Guidewire Software by 28.0% in the fourth quarter. Alliancebernstein L.P. now owns 1,568,248 shares of the technology company’s stock valued at $116,458,000 after purchasing an additional 343,376 shares during the period. Finally, Eagle Asset Management Inc. increased its stake in Guidewire Software by 5.1% in the third quarter. Eagle Asset Management Inc. now owns 1,145,732 shares of the technology company’s stock valued at $88,828,000 after purchasing an additional 55,885 shares during the period.
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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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