Bank of America Downgrades Guidewire Software Inc to Underperform

Brokerage firm Bank of America Downgrades its rating on Guidewire Software Inc(NYSE:GWRE). The shares have been rated Underperform. Previously, the analysts had a Neutral rating on the shares. The rating by Bank of America was issued on Sep 16, 2016.

In a different note, On Sep 8, 2016, JP Morgan said it Maintains its rating on Guidewire Software Inc. In the research note, the firm Raises the price-target to $68.00 per share. The shares have been rated ‘Overweight’ by the firm.

Guidewire Software Inc (GWRE) made into the market gainers list on Thursdays trading session with the shares advancing 2.43% or 1.41 points. Due to strong positive momentum, the stock ended at $59.5, which is also near the day’s high of $59.555. The stock began the session at $58.5 and the volume stood at 11,64,224 shares. The 52-week high of the shares is $64.78 and the 52 week low is $42.32. The company has a current market capitalization of $4,348 M and it has 7,30,68,434 shares in outstanding.

Guidewire Software Inc(GWRE) last announced its earnings results on Sep 7, 2016 for Fiscal Year 2016 and Q4.Company reported revenue of $141.18M. Analysts had an estimated revenue of $136.09M. Earnings per share were $0.39. Analysts had estimated an EPS of $0.32.

Several Insider Transactions has been reported to the SEC. On Sep 15, 2016, Priscilla Hung (Chief Administrative Officer) sold 970 shares at $61.61 per share price.Also, On Sep 15, 2016, James Winston King (General Counsel and Secretary) sold 564 shares at $61.45 per share price.On Sep 15, 2016, Michael Polelle (Chief Delivery Officer) sold 209 shares at $61.01 per share price, according to the Form-4 filing with the securities and exchange commission.

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. The Company sells its products to a variety of insurance carriers ranging from global insurers to national carriers to regional carriers. Its core transaction processing includes Guidewire InsuranceSuite Guidewire PolicyCenter Guidewire ClaimCenter Guidewire BillingCenter and InsuranceSuite Add-on Modules. InsuranceSuite Add-on Modules includes Guidewire Rating Management Guidewire Reinsurance Management Guidewire Client Data Management Guidewire Standards-Based Templates and Guidewire London Market Messaging. Its data management and analytics includes Guidewire DataHub Guidewire InfoCenter and Guidewire Live and digital engagement includes Guidewire Digital Portals.

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