Guidewire Software (GWRE) to Release Quarterly Earnings on Thursday

Guidewire Software (NYSE:GWRE – Get Rating) is set to release its earnings data after the market closes on Thursday, June 1st. Analysts expect Guidewire Software to post earnings of ($0.13) per share for the quarter. Guidewire Software has set its FY 2023 guidance at EPS and its Q3 2023 guidance at EPS.Persons that wish to register for the company’s earnings conference call can do so using this link.

Guidewire Software (NYSE:GWRE – Get Rating) last posted its quarterly earnings results on Monday, March 6th. The technology company reported ($0.56) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.17). The company had revenue of $232.61 million during the quarter, compared to the consensus estimate of $222.13 million. Guidewire Software had a negative net margin of 19.19% and a negative return on equity of 12.63%. On average, analysts expect Guidewire Software to post $-2 EPS for the current fiscal year and $-1 EPS for the next fiscal year.

Guidewire Software Stock Down 0.8 %

GWRE stock opened at $79.17 on Thursday. The company has a quick ratio of 3.66, a current ratio of 3.66 and a debt-to-equity ratio of 0.32. The business has a 50 day moving average price of $77.99 and a two-hundred day moving average price of $70.45. The company has a market cap of $6.46 billion, a price-to-earnings ratio of -39.59 and a beta of 1.27. Guidewire Software has a twelve month low of $52.08 and a twelve month high of $83.14.

Insider Buying and Selling

In other news, insider James Winston King sold 1,526 shares of the stock in a transaction on Monday, March 20th. The stock was sold at an average price of $76.88, for a total transaction of $117,318.88. Following the sale, the insider now directly owns 35,550 shares of the company’s stock, valued at approximately $2,733,084. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, insider James Winston King sold 1,526 shares of the stock in a transaction on Monday, March 20th. The stock was sold at an average price of $76.88, for a total transaction of $117,318.88. Following the sale, the insider now directly owns 35,550 shares of the company’s stock, valued at approximately $2,733,084. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, COO Priscilla Hung sold 2,523 shares of the stock in a transaction on Monday, March 20th. The stock was sold at an average price of $76.88, for a total value of $193,968.24. Following the sale, the chief operating officer now directly owns 53,793 shares in the company, valued at $4,135,605.84. The disclosure for this sale can be found here. Insiders have sold 26,445 shares of company stock valued at $2,037,798 over the last 90 days. 0.17% of the stock is owned by corporate insiders.

Institutional Trading of Guidewire Software

Several large investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in Guidewire Software by 0.7% in the third quarter. Vanguard Group Inc. now owns 7,765,647 shares of the technology company’s stock valued at $478,209,000 after buying an additional 57,277 shares in the last quarter. Geode Capital Management LLC boosted its stake in Guidewire Software by 3.6% in the first quarter. Geode Capital Management LLC now owns 1,139,270 shares of the technology company’s stock valued at $93,477,000 after buying an additional 39,307 shares in the last quarter. Norges Bank acquired a new stake in shares of Guidewire Software during the fourth quarter valued at about $47,584,000. New York State Common Retirement Fund boosted its stake in shares of Guidewire Software by 3.6% during the first quarter. New York State Common Retirement Fund now owns 758,888 shares of the technology company’s stock valued at $62,267,000 after purchasing an additional 26,080 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Guidewire Software by 0.6% during the first quarter. Charles Schwab Investment Management Inc. now owns 509,477 shares of the technology company’s stock valued at $41,803,000 after purchasing an additional 3,278 shares in the last quarter.

Analyst Ratings Changes

GWRE has been the subject of a number of recent analyst reports. Citigroup raised their price objective on Guidewire Software from $67.00 to $81.00 and gave the company a “neutral” rating in a research report on Tuesday, March 7th. JMP Securities reaffirmed a “market outperform” rating and issued a $95.00 price objective on shares of Guidewire Software in a research report on Tuesday, March 7th. JPMorgan Chase & Co. raised their price objective on Guidewire Software from $78.00 to $83.00 and gave the company an “overweight” rating in a research report on Tuesday, March 7th. StockNews.com initiated coverage on Guidewire Software in a research report on Thursday, May 18th. They issued a “hold” rating for the company. Finally, Wells Fargo & Company raised their price objective on Guidewire Software from $55.00 to $60.00 and gave the company an “underweight” rating in a research report on Tuesday, March 7th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, Guidewire Software presently has a consensus rating of “Hold” and a consensus price target of $83.09.

About Guidewire Software

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Guidewire Software, Inc engages in the provision of technology platform, which comprises software, services, and a partner ecosystem, for the global Property and Casualty insurance industry. Its products include InsuranceSuite, PolicyCenter, ClaimCenter, BillingCenter, InsuranceNow, Analytics, Ecosystem, Guidewire for salesforce, and Guidewire Cloud.