Guidewire Software (NYSE:GWRE) Cut to Sell at StockNews.com

Guidewire Software (NYSE:GWREGet Rating) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Saturday.

A number of other research firms also recently issued reports on GWRE. Royal Bank of Canada began coverage on shares of Guidewire Software in a report on Tuesday, April 19th. They issued an “outperform” rating and a $125.00 price objective on the stock. Robert W. Baird lowered their price target on shares of Guidewire Software from $118.00 to $89.00 and set a “neutral” rating on the stock in a report on Thursday. DA Davidson lowered their price target on shares of Guidewire Software to $114.00 and set a “na” rating on the stock in a report on Tuesday, May 24th. Citigroup lowered their price target on shares of Guidewire Software from $89.00 to $88.00 and set a “neutral” rating on the stock in a report on Wednesday, June 8th. Finally, Stifel Nicolaus lowered their price target on shares of Guidewire Software from $100.00 to $85.00 in a report on Wednesday, June 8th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $109.60.

Shares of GWRE stock opened at $72.96 on Friday. The company has a 50 day moving average price of $81.80 and a 200-day moving average price of $93.59. Guidewire Software has a 52 week low of $69.61 and a 52 week high of $130.95. The firm has a market capitalization of $6.12 billion, a PE ratio of -40.31 and a beta of 1.31. The company has a quick ratio of 4.45, a current ratio of 4.45 and a debt-to-equity ratio of 0.24.

Guidewire Software (NYSE:GWREGet Rating) last posted its quarterly earnings data on Tuesday, June 7th. The technology company reported ($0.26) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.02. The company had revenue of $197.45 million for the quarter, compared to the consensus estimate of $187.73 million. Guidewire Software had a negative net margin of 18.86% and a negative return on equity of 7.80%. The firm’s revenue was up 20.4% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.39) earnings per share. Analysts anticipate that Guidewire Software will post -1.93 earnings per share for the current year.

In related news, CEO Michael George Rosenbaum sold 5,636 shares of the business’s stock in a transaction on Friday, June 17th. The shares were sold at an average price of $72.18, for a total value of $406,806.48. Following the sale, the chief executive officer now owns 125,474 shares in the company, valued at $9,056,713.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Marcus Ryu purchased 1,000 shares of Guidewire Software stock in a transaction that occurred on Thursday, June 16th. The stock was acquired at an average price of $70.81 per share, for a total transaction of $70,810.00. Following the transaction, the director now directly owns 4,539 shares of the company’s stock, valued at approximately $321,406.59. The disclosure for this purchase can be found here. Insiders sold 9,600 shares of company stock worth $692,928 in the last three months. Insiders own 0.17% of the company’s stock.

A number of hedge funds have recently bought and sold shares of GWRE. Norges Bank bought a new position in Guidewire Software during the fourth quarter valued at $67,267,000. Jarislowsky Fraser Ltd increased its position in Guidewire Software by 33.1% during the first quarter. Jarislowsky Fraser Ltd now owns 1,376,447 shares of the technology company’s stock valued at $130,239,000 after acquiring an additional 342,391 shares during the last quarter. Route One Investment Company L.P. boosted its stake in shares of Guidewire Software by 14.6% during the first quarter. Route One Investment Company L.P. now owns 2,245,730 shares of the technology company’s stock valued at $212,491,000 after purchasing an additional 286,750 shares during the period. Van ECK Associates Corp boosted its stake in shares of Guidewire Software by 17.1% during the first quarter. Van ECK Associates Corp now owns 1,737,384 shares of the technology company’s stock valued at $164,391,000 after purchasing an additional 253,401 shares during the period. Finally, Woodline Partners LP purchased a new stake in shares of Guidewire Software during the first quarter valued at $21,836,000.

Guidewire Software Company Profile (Get Rating)

Guidewire Software, Inc provides software products for property and casualty insurers worldwide. The company offers Guidewire InsuranceSuite comprising Guidewire PolicyCenter, BillingCenter, and ClaimCenter 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.

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