Guidewire Software Inc (GWRE) is Downgraded by BofA/Merrill to Underperform

Guidewire Software Inc (GWRE) was Downgraded by BofA/Merrill to ” Underperform”. Earlier the firm had a rating of “Neutral ” on the company shares. BofA/Merrill advised their investors in a research report released on Sep 16, 2016.

On the company’s financial health, Guidewire Software Inc reported $0.22 EPS for the quarter, missing the analyst consensus estimate by $ -0.10 based on the information available during the earnings call on Sep 7, 2016. Analyst had a consensus of $0.32. The company had revenue of $141.20 million for the quarter, compared to analysts expectations of $136.20 million. The company’s revenue was up 12.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.35 EPS.

Guidewire Software Inc opened for trading at $61.01 and hit $61.3 on the upside on Wednesday, eventually ending the session at $60.93, with a gain of 0.08% or 0.05 points. The heightened volatility saw the trading volume jump to 259,672 shares. Company has a market cap of $4,419 M.

In a different news, on Sep 15, 2016, Priscilla Hung (Chief Administrative Officer) sold 970 shares at $61.61 per share price. According to the SEC, 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.

Guidewire Software Inc

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