Guidewire Software (NYSE:GWRE) Given “Hold” Rating at Needham & Company LLC

Needham & Company LLC restated their hold rating on shares of Guidewire Software (NYSE:GWRE) in a research note issued to investors on Friday, Benzinga reports.

GWRE has been the topic of several other reports. Wells Fargo & Company boosted their target price on Guidewire Software from $150.00 to $175.00 and gave the company an overweight rating in a research note on Wednesday, August 21st. Robert W. Baird boosted their price objective on shares of Guidewire Software from $152.00 to $165.00 and gave the company an outperform rating in a research report on Tuesday, September 3rd. JPMorgan Chase & Co. raised their target price on shares of Guidewire Software from $133.00 to $145.00 and gave the stock an overweight rating in a research report on Wednesday, June 5th. Bank of America boosted their price target on shares of Guidewire Software from $80.00 to $95.00 and gave the company an underperform rating in a research report on Wednesday, June 5th. Finally, BTIG Research raised their price objective on shares of Guidewire Software from $140.00 to $165.00 and gave the stock a buy rating in a report on Friday, August 30th. One analyst has rated the stock with a sell rating, three have given a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus price target of $161.69.

Guidewire Software Stock Up 3.9 %

Shares of GWRE opened at $168.04 on Friday. The stock has a market capitalization of $13.89 billion, a P/E ratio of -1,292.52 and a beta of 1.18. Guidewire Software has a twelve month low of $85.15 and a twelve month high of $171.74. The firm has a fifty day simple moving average of $145.23 and a two-hundred day simple moving average of $128.55.

Guidewire Software (NYSE:GWRE) last posted its earnings results on Thursday, September 5th. The technology company reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.54 by $0.08. The company had revenue of $291.50 million during 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 1.32%. Guidewire Software’s revenue for the quarter was up 8.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.30 earnings per share. Sell-side analysts expect that Guidewire Software will post 0.38 EPS for the current fiscal year.

Insider Transactions at Guidewire Software

In related news, CFO Jeffrey Elliott Cooper sold 3,017 shares of the firm’s stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $134.54, for a total transaction of $405,907.18. Following the completion of the transaction, the chief financial officer now owns 63,479 shares of the company’s stock, valued at approximately $8,540,464.66. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, insider John P. Mullen sold 1,350 shares of the company’s stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $149.03, for a total value of $201,190.50. Following the transaction, the insider now owns 137,821 shares in the company, valued at $20,539,463.63. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Jeffrey Elliott Cooper sold 3,017 shares of the stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of $134.54, for a total transaction of $405,907.18. Following the sale, the chief financial officer now owns 63,479 shares in the company, valued at approximately $8,540,464.66. The disclosure for this sale can be found here. Insiders have sold a total of 13,064 shares of company stock valued at $1,782,775 in the last ninety days. 0.38% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Guidewire Software

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Rothschild Investment LLC bought a new stake in shares of Guidewire Software in the 2nd quarter worth $31,000. ORG Partners LLC purchased a new stake in shares of Guidewire Software during the first quarter valued at $29,000. Transcendent Capital Group LLC bought a new stake in Guidewire Software in the 4th quarter worth about $27,000. DT Investment Partners LLC purchased a new position in Guidewire Software in the 2nd quarter worth about $41,000. Finally, Lynx Investment Advisory bought a new position in Guidewire Software during the 2nd quarter valued at about $41,000.

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.