Trade Report: The Zacks Investment Research Downgrades Guidewire Software Inc (GWRE) to Sell

The Zacks Investment Research Downgrades Guidewire Software Inc (GWRE) to Sell

Guidewire Software Inc (NYSE:GWRE) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Tuesday.

According to Zacks, “Guidewire Software Inc. provides core systems to the insurance industry. Its core system suite spans the entire property/casualty insurance lifecycle like underwriting, policy administration, billing, claims, and reinsurance management. Guidewire Software Inc. is headquartered in San Mateo, California. “

Several other equities analysts have also weighed in on the stock. Deutsche Bank AG reiterated a “buy” rating and set a $80.00 price objective on shares of Guidewire Software in a report on Thursday, June 16th. JPMorgan Chase & Co. upped their price objective on shares of Guidewire Software from $68.00 to $78.00 and gave the company an “overweight” rating in a report on Thursday, September 8th. TheStreet upgraded shares of Guidewire Software from a “hold” rating to a “buy” rating in a report on Wednesday, September 7th. JMP Securities reiterated a “hold” rating on shares of Guidewire Software in a report on Thursday, September 8th. Finally, Bank of America Corp. lowered shares of Guidewire Software from a “neutral” rating to an “underperform” rating and set a $60.00 price objective on the stock. in a report on Friday, September 16th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the company’s stock. Guidewire Software presently has an average rating of “Hold” and an average target price of $69.38.

Guidewire Software (NYSE:GWRE) opened at 58.56 on Tuesday. The company has a market cap of $4.28 billion and a PE ratio of 292.80. Guidewire Software has a 12-month low of $42.32 and a 12-month high of $64.78. The company’s 50-day moving average price is $60.76 and its 200-day moving average price is $59.44.

Guidewire Software (NYSE:GWRE) last issued its quarterly earnings results on Wednesday, September 7th. The company reported $0.39 EPS for the quarter, beating the Zacks’ consensus estimate of $0.32 by $0.07. The firm had revenue of $141.18 million for the quarter, compared to the consensus estimate of $136.09 million. The business’s revenue was up 12.1% compared to the same quarter last year. During the same period last year, the company posted $0.35 EPS. Equities analysts anticipate that Guidewire Software will post $0.76 earnings per share for the current year.

In other Guidewire Software news, General Counsel James Winston King sold 562 shares of the company’s stock in a transaction dated Monday, August 15th. The shares were sold at an average price of $62.05, for a total value of $34,872.10. Following the completion of the sale, the general counsel now directly owns 104 shares of the company’s stock, valued at approximately $6,453.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Marcus Ryu sold 20,000 shares of the company’s stock in a transaction dated Monday, October 3rd. The stock was sold at an average price of $60.36, for a total transaction of $1,207,200.00. Following the completion of the sale, the chief executive officer now directly owns 20,000 shares of the company’s stock, valued at $1,207,200. The disclosure for this sale can be found here.

Large investors have recently modified their holdings of the company. Prudential Financial Inc. increased its stake in shares of Guidewire Software by 8.3% in the first quarter. Prudential Financial Inc. now owns 7,495 shares of the company’s stock worth $408,000 after buying an additional 575 shares during the last quarter. BlackRock Inc. increased its stake in shares of Guidewire Software by 113.7% in the first quarter. BlackRock Inc. now owns 4,929 shares of the company’s stock worth $269,000 after buying an additional 2,623 shares during the last quarter. BlackRock Group LTD increased its stake in shares of Guidewire Software by 24.2% in the first quarter. BlackRock Group LTD now owns 46,860 shares of the company’s stock worth $2,552,000 after buying an additional 9,137 shares during the last quarter. BlackRock Institutional Trust Company N.A. increased its stake in shares of Guidewire Software by 0.4% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,733,977 shares of the company’s stock worth $94,467,000 after buying an additional 7,207 shares during the last quarter. Finally, State Street Corp increased its stake in shares of Guidewire Software by 2.7% in the first quarter. State Street Corp now owns 1,273,842 shares of the company’s stock worth $69,403,000 after buying an additional 33,481 shares during the last quarter.

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. Its platform consists of three products: core transaction processing, data management and analytics, and digital engagement.

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