Guidewire Software (NYSE:GWRE) receives Hold rating from Needham & Company LLC

Needham & Company LLC reissued their hold rating on the stock Guidewire Software (NYSE:GWRE – Free Report) in a report issued Friday morning, reports Benzinga.

Several other equities research analysts recently issued reports on GWRE. Bank of America lifted their price objective on Guidewire Software from $80.00 to $95.00 and gave the stock an underperform rating in a report on Wednesday, June 5th. Citigroup upped their target price on shares of Guidewire Software from $109.00 to $122.00 and gave the stock a neutral rating in a report on Tuesday, June 4th. Royal Bank of Canada boosted their price objective on Guidewire Software from $130.00 to $170.00 and gave the stock an outperform rating in a research report on Thursday, June 27th. Wells Fargo & Company boosted their price target on Guidewire Software from $150.00 to $175.00 and gave the company an overweight rating in a research report on Wednesday, August 21st. Finally, Stifel Nicolaus boosted their target price on shares of Guidewire Software from $130.00 to $140.00 and gave the stock a buy rating in a research note on Wednesday, June 5th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus price target of $158.38.

See our latest report on Guidewire software

Guidewire Software Stock Performance

Shares of GWRE stock opened at $161.72 on Friday. Guidewire Software has a fifty-two week low of $83.91 and a fifty-two week high of $171.74. The firm has a market cap of $13.37 billion, a price-to-earnings ratio of -1,244.00 and a beta of 1.18. The stock’s 50-day simple moving average is $144.64 and its 200-day simple moving average is $128.20.

Guidewire Software (NYSE:GWRE – Get Free Report ) last released its 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 during the quarter, compared to analysts’ expectations of $283.84 million. Guidewire Software had a negative net margin of 1.11% and a negative return on equity of 1.19%. The company’s revenue was up 8.0% compared to the same quarter last year. In the same quarter last year, the company posted earnings of $0.30 per share. As a group, equities analysts predict that Guidewire Software will post -0.31 earnings per share for the current year.

Internal transactions at Guidewire Software

In related news, CEO Michael George Rosenbaum sold 5,582 shares of the company’s stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of $134.54, for a total value of $751,002.28. Following the transaction, the chief executive officer now owns 239,793 shares in the company, valued at $32,261,750.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, insider John P. Mullen sold 1,350 shares of the company’s stock in a transaction dated Friday, July 19th. The shares were sold at an average price of $139.12, for a total transaction of $187,812.00. Following the sale, the insider now directly owns 139,171 shares in the company, valued at approximately $19,361,469.52. The sale was disclosed in a filing with the SEC, which is accessible via this link. Also, CEO Michael George Rosenbaum sold 5,582 shares of the business’s stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $134.54, for a total value of $751,002.28. Following the completion of the transaction, the chief executive officer now directly owns 239,793 shares of the company’s stock, valued at approximately $32,261,750.22. The disclosure for this sale can be found here. In the last quarter, insiders sold 13,064 shares of company stock worth $1,782,775. 0.38% of shares are currently owned by company insiders.

Guidewire Institutional Software Marketing

A number of hedge funds have recently made changes to their positions in the company. Massachusetts Financial Services Co. MA acquired a new stake in Guidewire Software during the fourth quarter valued at $105,311,000. Norges Bank acquired a new stake in shares of Guidewire Software during the fourth quarter valued at approximately $97,829,000. Whale Rock Capital Management LLC grew its position in shares of Guidewire Software by 23.4% in the first quarter. Whale Rock Capital Management LLC now owns 1,270,870 shares of the technology company’s stock worth $148,323,000 after purchasing an additional 240,622 shares during the last quarter. Teca Partners LP acquired a new position in shares of Guidewire Software in the second quarter valued at about $25,893,000. Finally, Linonia Partnership LP boosted its holdings in Guidewire Software by 8.4% in the second quarter. Linonia Partnership LP now owns 2,395,601 shares of the technology company’s stock valued at $330,329,000 after buying an additional 185,077 shares in the last quarter.

Guidewire Software Company Profile

(Get a free report)

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 offers Guidewire InsuranceNow, a cloud-based platform that provides insurers with policy, billing and claims management functionality; and Guidewire InsuranceSuite for Self-Managed.

Featured stories

Get daily news and reviews for Guidewire Software – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Guidewire Software and related companies with MarketBeat.com’s FREE daily email newsletter.