Guidewire Software (NYSE:GWRE) Shares Gap Up After Earnings Beat

Guidewire Software, Inc. (NYSE:GWRE - Get Free Report) gapped up before the market opened on Wednesday after the company announced better than expected quarterly earnings. The stock had previously closed at $218.18, but opened at $246.95. Guidewire Software shares last traded at $256.39, with a volume of 928,469 shares traded.

The technology company reported $0.88 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.41. The company had revenue of $293.51 million for the quarter, compared to analysts' expectations of $286.40 million. Guidewire Software had a return on equity of 2.38% and a net margin of 2.91%. The business's quarterly revenue was up 22.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.26 earnings per share.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. DA Davidson reaffirmed a "neutral" rating and issued a $226.00 price objective on shares of Guidewire Software in a research note on Wednesday. Citigroup lifted their price objective on Guidewire Software from $199.00 to $247.00 and gave the stock a "neutral" rating in a research note on Thursday. Wells Fargo & Company lifted their price objective on Guidewire Software from $220.00 to $265.00 and gave the stock an "overweight" rating in a research note on Wednesday. Needham & Company LLC reaffirmed a "hold" rating on shares of Guidewire Software in a research note on Wednesday. Finally, The Goldman Sachs Group lifted their price objective on Guidewire Software from $235.00 to $270.00 and gave the stock a "buy" rating in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $247.00.

Insider Buying and Selling at Guidewire Software

In other news, Director Michael C. Keller sold 1,848 shares of the business's stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $185.03, for a total transaction of $341,935.44. Following the completion of the sale, the director now owns 12,270 shares in the company, valued at $2,270,318.10. The trade was a 13.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Michael George Rosenbaum sold 1,400 shares of the business's stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $170.04, for a total value of $238,056.00. Following the sale, the chief executive officer now owns 269,130 shares of the company's stock, valued at approximately $45,762,865.20. This represents a 0.52% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 28,671 shares of company stock valued at $5,471,104. 0.48% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Guidewire Software

Several hedge funds and other institutional investors have recently modified their holdings of the company. First Hawaiian Bank bought a new stake in shares of Guidewire Software during the first quarter valued at approximately $1,546,000. Strs Ohio bought a new stake in Guidewire Software during the first quarter worth $1,336,000. Advisors Capital Management LLC grew its holdings in Guidewire Software by 3.8% during the first quarter. Advisors Capital Management LLC now owns 43,253 shares of the technology company's stock worth $8,104,000 after buying an additional 1,599 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Guidewire Software by 8.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 301,940 shares of the technology company's stock worth $56,571,000 after buying an additional 24,287 shares in the last quarter. Finally, Vancity Investment Management Ltd bought a new stake in Guidewire Software during the first quarter worth $1,066,000.

Guidewire Software Price Performance

The company has a fifty day moving average of $201.77 and a 200-day moving average of $194.70. The firm has a market cap of $21.47 billion, a P/E ratio of 710.92, a P/E/G ratio of 37.21 and a beta of 1.18. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.66 and a quick ratio of 2.66.

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.