Guidewire Software (NYSE:GWRE) Earns "Hold" Rating from Needham & Company LLC

Guidewire Software (NYSE:GWRE - Get Free Report)'s stock had its "hold" rating reaffirmed by Needham & Company LLC in a report issued on Friday,Benzinga reports.

Several other research firms have also issued reports on GWRE. BTIG Research increased their price target on shares of Guidewire Software from $140.00 to $165.00 and gave the stock a "buy" rating in a research report on Friday, August 30th. DA Davidson reissued a "buy" rating and issued a $210.00 target price on shares of Guidewire Software in a report on Wednesday. Stifel Nicolaus boosted their price target on Guidewire Software from $200.00 to $220.00 and gave the company a "buy" rating in a research note on Tuesday, November 19th. JPMorgan Chase & Co. lifted their price objective on Guidewire Software from $170.00 to $210.00 and gave the company an "overweight" rating in a report on Thursday, October 3rd. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and issued a $215.00 target price on shares of Guidewire Software in a report on Tuesday, November 19th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $193.00.

Guidewire Software Price Performance

Shares of GWRE traded down $29.00 on Friday, reaching $177.57. 4,582,067 shares of the stock traded hands, compared to its average volume of 737,541. The stock's 50-day moving average price is $191.58 and its 200-day moving average price is $160.55. The firm has a market cap of $14.83 billion, a price-to-earnings ratio of 493.25, a P/E/G ratio of 53.58 and a beta of 1.18. Guidewire Software has a 12 month low of $95.02 and a 12 month high of $209.15.

Guidewire Software (NYSE:GWRE - Get Free Report) last announced its quarterly earnings results on Thursday, September 5th. The technology company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.08. The firm had revenue of $291.50 million for 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 1.29%. The business's revenue for the quarter was up 8.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.30 EPS. As a group, equities research analysts forecast that Guidewire Software will post 0.53 earnings per share for the current fiscal year.

Insider Activity

In other Guidewire Software news, insider John P. Mullen sold 6,718 shares of the company's stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $172.16, for a total transaction of $1,156,570.88. Following the transaction, the insider now directly owns 160,099 shares in the company, valued at approximately $27,562,643.84. This represents a 4.03 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Michael George Rosenbaum sold 23,379 shares of Guidewire Software stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $172.16, for a total transaction of $4,024,928.64. Following the sale, the chief executive officer now owns 287,662 shares of the company's stock, valued at approximately $49,523,889.92. This represents a 7.52 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 52,601 shares of company stock valued at $9,116,179 over the last three months. 0.48% of the stock is owned by insiders.

Hedge Funds Weigh In On Guidewire Software

Hedge funds and other institutional investors have recently bought and sold shares of the business. Rothschild Investment LLC bought a new stake in shares of Guidewire Software in the 2nd quarter valued at about $31,000. Assetmark Inc. increased its stake in Guidewire Software by 537.0% in the third quarter. Assetmark Inc. now owns 172 shares of the technology company's stock valued at $31,000 after purchasing an additional 145 shares in the last quarter. Point72 Hong Kong Ltd acquired a new stake in Guidewire Software in the third quarter worth $33,000. DT Investment Partners LLC acquired a new stake in Guidewire Software in the second quarter worth $41,000. Finally, Brooklyn Investment Group bought a new position in shares of Guidewire Software during the third quarter worth $42,000.

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.