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

Needham & Company LLC reaffirmed their hold rating on shares of Guidewire Software (NYSE:GWRE) in a report published on Friday, Benzinga reports.

A number of other brokerages have also weighed in on GWRE. Wells Fargo & Company boosted their price objective on shares of Guidewire Software from $150.00 to $175.00 and gave the stock an overweight rating in a report on Wednesday, August 21st. The Goldman Sachs Group lifted their target price on Guidewire Software from $146.00 to $170.00 and gave the stock a buy rating in a report on Monday, July 22nd. DA Davidson upped their price target on Guidewire Software from $142.00 to $168.00 and gave the company a buy rating in a report on Thursday, August 29th. BTIG Research lifted their price objective on Guidewire Software from $140.00 to $165.00 and gave the stock a buy rating in a report on Friday, August 30th. Finally, Robert W. Baird upped their target price on shares of Guidewire Software from $152.00 to $165.00 and gave the company an outperform rating in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $158.38.

Guidewire Software Trading Up 12.4 %

Guidewire Software stock opened at $161.71 on Friday. Guidewire Software has a 12 month low of $83.91 and a 12 month high of $171.74. The company has a market capitalization of $13.37 billion, a price-to-earnings ratio of -1,243.92 and a beta of 1.19. The business’s fifty day simple moving average is $144.64 and its two-hundred day simple moving average is $128.04.

Guidewire Software (NYSE:GWRE) last announced its quarterly earnings data on Thursday, September 5th. The technology company reported $0.62 EPS for the quarter, beating the consensus estimate of $0.54 by $0.08. The company had revenue of $291.50 million for the quarter, compared to the consensus estimate of $283.84 million. Guidewire Software had a negative net margin of 1.11% and a negative return on equity of 1.19%. 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 firm posted $0.30 EPS. On average, equities research analysts predict that Guidewire Software will post -0.31 EPS for the current year.

Insider Buying and Selling at Guidewire Software

In related news, CEO Michael George Rosenbaum sold 5,582 shares of Guidewire Software stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $134.54, for a total transaction of $751,002.28. Following the transaction, the chief executive officer now directly owns 239,793 shares in the company, valued at $32,261,750.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Guidewire Software news, CEO Michael George Rosenbaum sold 5,582 shares of the firm’s 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 $751,002.28. Following the sale, the chief executive officer now owns 239,793 shares in the company, valued at approximately $32,261,750.22. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider John P. Mullen sold 1,350 shares of Guidewire Software stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $149.03, for a total transaction of $201,190.50. Following the transaction, the insider now directly owns 137,821 shares in the company, valued at approximately $20,539,463.63. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 13,064 shares of company stock valued at $1,782,775. Insiders own 0.38% of the company’s stock.

Institutional Investors Weigh In On Guidewire Software

Institutional investors and hedge funds have recently bought and sold shares of the business. Sanctuary Advisors LLC bought a new position in shares of Guidewire Software in the second quarter worth about $429,000. Cetera Investment Advisers lifted its holdings in Guidewire Software by 2.1% in the 2nd quarter. Cetera Investment Advisers now owns 18,489 shares of the technology company’s stock worth $2,549,000 after purchasing an additional 372 shares in the last quarter. Quarry LP bought a new position in Guidewire Software in the 2nd quarter worth approximately $77,000. Creative Planning grew its holdings in Guidewire Software by 26.1% during the 2nd quarter. Creative Planning now owns 13,211 shares of the technology company’s stock valued at $1,822,000 after buying an additional 2,731 shares in the last quarter. Finally, Algert Global LLC purchased a new stake in Guidewire Software during the 2nd quarter valued at approximately $1,099,000.

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.