Guggenheim Initiates Coverage on Guidewire Software (NYSE:GWRE)

Guggenheim assumed coverage on shares of Guidewire Software (NYSE:GWRE) in a report issued on Tuesday, August 7th, MarketBeat Ratings reports. The brokerage issued a buy rating and a $115.00 target price on the technology company’s stock.

GWRE has been the subject of several other reports. DA Davidson raised their price objective on Guidewire Software from $100.00 to $106.00 and gave the stock a buy rating in a research note on Thursday, June 7th. JPMorgan Chase & Co. increased their target price on Guidewire Software to $100.00 and gave the company an overweight rating in a report on Wednesday, June 6th. Stifel Nicolaus increased their target price on Guidewire Software from $88.00 to $93.00 and gave the company a hold rating in a report on Wednesday, June 6th. Deutsche Bank increased their target price on Guidewire Software from $95.00 to $100.00 and gave the company a buy rating in a report on Wednesday, June 6th. Finally, KeyCorp increased their target price on Guidewire Software from $91.00 to $100.00 and gave the company an overweight rating in a report on Wednesday, June 6th. One research analyst has rated the stock with a sell rating, two have given a hold rating and ten have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average target price of $97.20.

NYSE GWRE traded up $1.03 on Tuesday, reaching $100.57. 902,900 shares of the stock traded hands, compared to its average volume of 593,767. The company has a debt-to-equity ratio of 0.23, a quick ratio of 5.97 and a current ratio of 5.97. The firm has a market cap of $7.91 billion, a P/E ratio of 250.13, a PEG ratio of 37.31 and a beta of 1.06. Guidewire Software has a 12 month low of $70.06 and a 12 month high of $101.73.

Guidewire Software (NYSE:GWRE) last issued its quarterly earnings results on Tuesday, June 5th. The technology company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.06. The firm had revenue of $140.47 million during the quarter, compared to analyst estimates of $137.31 million. Guidewire Software had a positive return on equity of 0.30% and a negative net margin of 12.83%. The firm’s quarterly revenue was up 13.8% on a year-over-year basis. During the same period last year, the company posted $0.16 EPS. research analysts predict that Guidewire Software will post 0.06 earnings per share for the current fiscal year.

In other Guidewire Software news, Director Craig Conway sold 400 shares of the firm’s stock in a transaction dated Friday, June 15th. The stock was sold at an average price of $91.89, for a total transaction of $36,756.00. Following the transaction, the director now directly owns 9,593 shares in the company, valued at $881,500.77. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Marcus Ryu sold 17,111 shares of the firm’s stock in a transaction dated Tuesday, June 19th. The shares were sold at an average price of $92.55, for a total value of $1,583,623.05. Following the completion of the sale, the chief executive officer now directly owns 16,822 shares in the company, valued at $1,556,876.10. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 56,842 shares of company stock valued at $5,094,288. 0.69% of the stock is owned by corporate insiders.

Several large investors have recently modified their holdings of the company. Mainstay Capital Management LLC ADV grew its position in Guidewire Software by 6,463.8% during the second quarter. Mainstay Capital Management LLC ADV now owns 768,951 shares of the technology company’s stock worth $8,877,000 after buying an additional 757,236 shares in the last quarter. Meritage Group LP acquired a new stake in Guidewire Software during the second quarter worth about $41,684,000. Atlantic Trust Group LLC grew its position in Guidewire Software by 75.8% during the first quarter. Atlantic Trust Group LLC now owns 895,968 shares of the technology company’s stock worth $72,421,000 after buying an additional 386,253 shares in the last quarter. Russell Investments Group Ltd. grew its position in Guidewire Software by 1,724.9% during the first quarter. Russell Investments Group Ltd. now owns 362,969 shares of the technology company’s stock worth $29,225,000 after buying an additional 343,079 shares in the last quarter. Finally, Partner Fund Management L.P. acquired a new stake in Guidewire Software during the second quarter worth about $27,012,000.

Guidewire Software Company Profile

Guidewire Software, Inc provides software products for property and casualty insurers. It offers Guidewire InsuranceNow, a cloud-based platform that offers policy, billing, and claims management functionality to insurers. The company's products include Guidewire InsuranceSuite comprising Guidewire PolicyCenter, an underwriting and policy administration application; Guidewire ClaimCenter, a lifecycle management application; Guidewire BillingCenter, manages billing, payment plans, agent commissions, and external payment systems; and Guidewire Underwriting Management, a cloud-based underwriting application.

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Analyst Recommendations for Guidewire Software (NYSE:GWRE)

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