Intrinsic value of Guidewire Software - GWRE

Previous Close

$70.59

  Intrinsic Value

$13.88

stock screener

  Rating & Target

str. sell

-80%

  Value-price divergence*

-10%

Previous close

$70.59

 
Intrinsic value

$13.88

 
Up/down potential

-80%

 
Rating

str. sell

 
Value-price divergence*

-10%

*Intrinsic value change (in %) minus stock price change (in %) in the past 12 months.

We calculate the intrinsic value of GWRE stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 2016), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 5.1

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
2016(a)
   2017
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  11.29
  13.70
  12.83
  12.05
  11.34
  10.71
  10.14
  9.62
  9.16
  8.75
  8.37
  8.03
  7.73
  7.46
  7.21
  6.99
  6.79
  6.61
  6.45
  6.31
  6.18
  6.06
  5.95
  5.86
  5.77
  5.69
  5.62
  5.56
  5.51
  5.46
  5.41
Revenue, $m
  424
  482
  544
  609
  679
  751
  827
  907
  990
  1,077
  1,167
  1,261
  1,358
  1,459
  1,565
  1,674
  1,788
  1,906
  2,029
  2,157
  2,290
  2,429
  2,573
  2,724
  2,881
  3,045
  3,216
  3,395
  3,582
  3,778
  3,982
Variable operating expenses, $m
 
  460
  519
  581
  646
  715
  787
  863
  942
  1,024
  1,109
  1,195
  1,287
  1,383
  1,483
  1,587
  1,695
  1,807
  1,923
  2,044
  2,171
  2,302
  2,439
  2,582
  2,731
  2,886
  3,049
  3,218
  3,396
  3,581
  3,775
Fixed operating expenses, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total operating expenses, $m
  408
  460
  519
  581
  646
  715
  787
  863
  942
  1,024
  1,109
  1,195
  1,287
  1,383
  1,483
  1,587
  1,695
  1,807
  1,923
  2,044
  2,171
  2,302
  2,439
  2,582
  2,731
  2,886
  3,049
  3,218
  3,396
  3,581
  3,775
Operating income, $m
  16
  22
  25
  29
  32
  36
  40
  44
  49
  53
  58
  66
  71
  76
  81
  87
  93
  99
  106
  112
  119
  126
  134
  142
  150
  159
  167
  177
  187
  197
  207
EBITDA, $m
  25
  28
  31
  35
  39
  43
  47
  52
  57
  62
  67
  72
  78
  83
  89
  96
  102
  109
  116
  123
  131
  139
  147
  156
  165
  174
  184
  194
  205
  216
  228
Interest expense (income), $m
  0
  0
  1
  1
  2
  3
  4
  4
  5
  6
  7
  8
  9
  10
  11
  12
  14
  15
  16
  17
  19
  20
  22
  23
  25
  27
  29
  30
  32
  34
  37
Earnings before tax, $m
  21
  22
  25
  27
  30
  33
  37
  40
  43
  47
  51
  58
  62
  66
  70
  75
  79
  84
  90
  95
  100
  106
  112
  118
  125
  132
  139
  146
  154
  162
  171
Tax expense, $m
  6
  6
  7
  7
  8
  9
  10
  11
  12
  13
  14
  16
  17
  18
  19
  20
  21
  23
  24
  26
  27
  29
  30
  32
  34
  36
  38
  40
  42
  44
  46
Net income, $m
  15
  16
  18
  20
  22
  24
  27
  29
  32
  34
  37
  42
  45
  48
  51
  55
  58
  62
  65
  69
  73
  77
  82
  86
  91
  96
  101
  107
  113
  119
  125

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  628
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  916
  328
  370
  414
  461
  510
  562
  616
  673
  731
  793
  856
  923
  991
  1,063
  1,137
  1,214
  1,295
  1,378
  1,465
  1,556
  1,650
  1,748
  1,850
  1,957
  2,069
  2,185
  2,307
  2,434
  2,566
  2,705
Adjusted assets (=assets-cash), $m
  288
  328
  370
  414
  461
  510
  562
  616
  673
  731
  793
  856
  923
  991
  1,063
  1,137
  1,214
  1,295
  1,378
  1,465
  1,556
  1,650
  1,748
  1,850
  1,957
  2,069
  2,185
  2,307
  2,434
  2,566
  2,705
Revenue / Adjusted assets
  1.472
  1.470
  1.470
  1.471
  1.473
  1.473
  1.472
  1.472
  1.471
  1.473
  1.472
  1.473
  1.471
  1.472
  1.472
  1.472
  1.473
  1.472
  1.472
  1.472
  1.472
  1.472
  1.472
  1.472
  1.472
  1.472
  1.472
  1.472
  1.472
  1.472
  1.472
Average production assets, $m
  22
  25
  28
  31
  35
  38
  42
  46
  50
  55
  60
  64
  69
  74
  80
  85
  91
  97
  103
  110
  117
  124
  131
  139
  147
  155
  164
  173
  183
  193
  203
Working capital, $m
  589
  -44
  -50
  -56
  -62
  -69
  -76
  -83
  -91
  -99
  -107
  -116
  -125
  -134
  -144
  -154
  -164
  -175
  -187
  -198
  -211
  -223
  -237
  -251
  -265
  -280
  -296
  -312
  -330
  -348
  -366
Total debt, $m
  0
  18
  37
  58
  79
  102
  125
  150
  176
  203
  231
  260
  291
  322
  355
  389
  424
  461
  499
  539
  580
  624
  669
  715
  764
  815
  869
  924
  983
  1,043
  1,107
Total liabilities, $m
  132
  150
  169
  190
  211
  234
  257
  282
  308
  335
  363
  392
  423
  454
  487
  521
  556
  593
  631
  671
  712
  756
  801
  847
  896
  947
  1,001
  1,056
  1,115
  1,175
  1,239
Total equity, $m
  784
  178
  200
  224
  250
  277
  305
  334
  365
  396
  430
  464
  500
  537
  576
  616
  658
  702
  747
  794
  843
  894
  947
  1,003
  1,061
  1,121
  1,184
  1,250
  1,319
  1,391
  1,466
Total liabilities and equity, $m
  916
  328
  369
  414
  461
  511
  562
  616
  673
  731
  793
  856
  923
  991
  1,063
  1,137
  1,214
  1,295
  1,378
  1,465
  1,555
  1,650
  1,748
  1,850
  1,957
  2,068
  2,185
  2,306
  2,434
  2,566
  2,705
Debt-to-equity ratio
  0.000
  0.100
  0.190
  0.260
  0.320
  0.370
  0.410
  0.450
  0.480
  0.510
  0.540
  0.560
  0.580
  0.600
  0.620
  0.630
  0.640
  0.660
  0.670
  0.680
  0.690
  0.700
  0.710
  0.710
  0.720
  0.730
  0.730
  0.740
  0.740
  0.750
  0.750
Adjusted equity ratio
  0.542
  0.542
  0.542
  0.542
  0.542
  0.542
  0.542
  0.542
  0.542
  0.542
  0.542
  0.542
  0.542
  0.542
  0.542
  0.542
  0.542
  0.542
  0.542
  0.542
  0.542
  0.542
  0.542
  0.542
  0.542
  0.542
  0.542
  0.542
  0.542
  0.542
  0.542

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  15
  16
  18
  20
  22
  24
  27
  29
  32
  34
  37
  42
  45
  48
  51
  55
  58
  62
  65
  69
  73
  77
  82
  86
  91
  96
  101
  107
  113
  119
  125
Depreciation, amort., depletion, $m
  9
  5
  6
  6
  6
  7
  7
  8
  8
  8
  9
  6
  7
  7
  8
  9
  9
  10
  10
  11
  12
  12
  13
  14
  15
  16
  16
  17
  18
  19
  20
Funds from operations, $m
  119
  22
  24
  26
  29
  31
  34
  37
  40
  43
  46
  48
  52
  55
  59
  63
  67
  71
  76
  80
  85
  90
  95
  100
  106
  112
  118
  124
  131
  138
  145
Change in working capital, $m
  19
  -5
  -6
  -6
  -6
  -7
  -7
  -7
  -8
  -8
  -8
  -9
  -9
  -9
  -10
  -10
  -10
  -11
  -11
  -12
  -12
  -13
  -13
  -14
  -14
  -15
  -16
  -16
  -17
  -18
  -19
Cash from operations, $m
  100
  27
  29
  32
  35
  38
  41
  44
  47
  51
  54
  57
  61
  65
  69
  73
  78
  82
  87
  92
  97
  103
  108
  114
  120
  127
  134
  141
  148
  156
  164
Maintenance CAPEX, $m
  0
  -2
  -2
  -3
  -3
  -3
  -4
  -4
  -5
  -5
  -5
  -6
  -6
  -7
  -7
  -8
  -9
  -9
  -10
  -10
  -11
  -12
  -12
  -13
  -14
  -15
  -16
  -16
  -17
  -18
  -19
New CAPEX, $m
  -7
  -3
  -3
  -3
  -4
  -4
  -4
  -4
  -4
  -4
  -5
  -5
  -5
  -5
  -5
  -6
  -6
  -6
  -6
  -7
  -7
  -7
  -7
  -8
  -8
  -8
  -9
  -9
  -10
  -10
  -10
Cash from investing activities, $m
  -101
  -5
  -5
  -6
  -7
  -7
  -8
  -8
  -9
  -9
  -10
  -11
  -11
  -12
  -12
  -14
  -15
  -15
  -16
  -17
  -18
  -19
  -19
  -21
  -22
  -23
  -25
  -25
  -27
  -28
  -29
Free cash flow, $m
  -1
  22
  24
  26
  28
  31
  33
  36
  38
  41
  44
  46
  49
  53
  56
  60
  63
  67
  71
  75
  79
  84
  89
  93
  98
  104
  109
  115
  121
  128
  134
Issuance/(repayment) of debt, $m
  0
  18
  19
  20
  22
  23
  24
  25
  26
  27
  28
  29
  30
  32
  33
  34
  35
  37
  38
  40
  41
  43
  45
  47
  49
  51
  53
  56
  58
  61
  64
Issuance/(repurchase) of shares, $m
  8
  5
  5
  4
  3
  2
  1
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  13
  23
  24
  24
  25
  25
  25
  25
  26
  27
  28
  29
  30
  32
  33
  34
  35
  37
  38
  40
  41
  43
  45
  47
  49
  51
  53
  56
  58
  61
  64
Total cash flow (excl. dividends), $m
  11
  45
  48
  51
  53
  56
  58
  61
  64
  68
  72
  76
  80
  84
  89
  94
  99
  104
  109
  115
  121
  127
  134
  140
  147
  155
  163
  171
  179
  188
  198
Retained Cash Flow (-), $m
  -95
  -22
  -23
  -24
  -25
  -27
  -28
  -29
  -31
  -32
  -33
  -35
  -36
  -37
  -39
  -40
  -42
  -44
  -45
  -47
  -49
  -51
  -53
  -55
  -58
  -60
  -63
  -66
  -69
  -72
  -75
Prev. year cash balance distribution, $m
 
  628
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
 
  652
  25
  26
  28
  29
  30
  31
  34
  36
  39
  41
  44
  47
  50
  53
  57
  60
  64
  68
  72
  76
  80
  85
  90
  94
  100
  105
  111
  116
  122
Discount rate, %
 
  4.30
  4.52
  4.74
  4.98
  5.23
  5.49
  5.76
  6.05
  6.35
  6.67
  7.00
  7.35
  7.72
  8.11
  8.51
  8.94
  9.39
  9.86
  10.35
  10.87
  11.41
  11.98
  12.58
  13.21
  13.87
  14.56
  15.29
  16.05
  16.86
  17.70
PV of cash for distribution, $m
 
  625
  23
  23
  23
  22
  22
  21
  21
  21
  20
  19
  19
  18
  17
  16
  14
  13
  12
  10
  9
  8
  7
  6
  5
  4
  3
  2
  2
  1
  1
Current shareholders' claim on cash, %
  100
  99.5
  99.1
  98.8
  98.5
  98.4
  98.3
  98.3
  98.3
  98.3
  98.3
  98.3
  98.3
  98.3
  98.3
  98.3
  98.3
  98.3
  98.3
  98.3
  98.3
  98.3
  98.3
  98.3
  98.3
  98.3
  98.3
  98.3
  98.3
  98.3
  98.3

Guidewire Software, Inc. provides software products for property and casualty insurers. It offers a technology platform that supports insurance operations, including underwriting and policy administration, claim management, and billing. The company’s products include Guidewire InsuranceSuite comprising Guidewire PolicyCenter, an underwriting and policy administration application; Guidewire ClaimCenter, a claims management application; Guidewire BillingCenter, a billing and receivables management application; and Guidewire Underwriting Management, a cloud-based underwriting application. Its InsuranceSuite add-on modules consist of Guidewire Rating Management to manage the pricing of insurance products; Guidewire Reinsurance Management to use rules-based logic to execute reinsurance strategy through underwriting and claims processes; Guidewire Client Data Management to manage customer information; Guidewire Product Content Management that provides software tools and standards-based line-of-business templates to introduce and modify insurance products; and Guidewire London Market Messaging, an add-on for Guidewire ClaimCenter. The company also provides data management and analytics products, such as Guidewire DataHub, a data store that unifies, standardizes, and stores data from insurer’s systems and external sources; Guidewire InfoCenter, a business intelligence warehouse that provides information for business intelligence, analysis, and enhanced decision making; Guidewire Live, a suite of applications that aggregate data from internal and third-party sources, and analyze and visualize data; and Guidewire Predictive Analytics, a tool that allows insurers to make data-driven decisions. In addition, it offers Guidewire Digital Portals that deliver capabilities to individuals operating outside the intranet; and implementation and integration, maintenance support, and professional services. The company was founded in 2001 and is headquartered in Foster City, California.

FINANCIAL RATIOS  of  Guidewire Software (GWRE)

Valuation Ratios
P/E Ratio 343.7
Price to Sales 12.2
Price to Book 6.6
Price to Tangible Book
Price to Cash Flow 51.6
Price to Free Cash Flow 55.4
Growth Rates
Sales Growth Rate 11.3%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 16.7%
Cap. Spend. - 3 Yr. Gr. Rate -4.9%
Financial Strength
Quick Ratio NaN
Current Ratio 0
LT Debt to Equity 0%
Total Debt to Equity 0%
Interest Coverage 0
Management Effectiveness
Return On Assets 1.7%
Ret/ On Assets - 3 Yr. Avg. 2%
Return On Total Capital 2%
Ret/ On T. Cap. - 3 Yr. Avg. 2.3%
Return On Equity 2%
Return On Equity - 3 Yr. Avg. 2.3%
Asset Turnover 0.5
Profitability Ratios
Gross Margin 64.4%
Gross Margin - 3 Yr. Avg. 61%
EBITDA Margin 7.1%
EBITDA Margin - 3 Yr. Avg. 7%
Operating Margin 3.8%
Oper. Margin - 3 Yr. Avg. 4.5%
Pre-Tax Margin 5%
Pre-Tax Margin - 3 Yr. Avg. 5%
Net Profit Margin 3.5%
Net Profit Margin - 3 Yr. Avg. 3.5%
Effective Tax Rate 28.6%
Eff/ Tax Rate - 3 Yr. Avg. 31.6%
Payout Ratio 0%

GWRE stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the GWRE stock intrinsic value calculation we used $424 million for the last fiscal year's total revenue generated by Guidewire Software. The default revenue input number comes from 2016 income statement of Guidewire Software. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our GWRE stock valuation model: a) initial revenue growth rate of 13.7% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 4.3%, whose default value for GWRE is calculated based on our internal credit rating of Guidewire Software, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Guidewire Software.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of GWRE stock the variable cost ratio is equal to 95.5%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $0 million in the base year in the intrinsic value calculation for GWRE stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 3.5% for Guidewire Software.

Corporate tax rate of 27% is the nominal tax rate for Guidewire Software. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the GWRE stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for GWRE are equal to 5.1%.

Life of production assets of 10 years is the average useful life of capital assets used in Guidewire Software operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for GWRE is equal to -9.2%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $784 million for Guidewire Software - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 71.942 million for Guidewire Software is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Guidewire Software at the current share price and the inputted number of shares is $5.1 billion.

RELATED COMPANIES Price Int.Val. Rating
SPNS Sapiens Intern 10.90 13.46  hold
MJCO Majesco 4.37 0.97  str.sell
PEGA Pegasystems 54.50 39.28  sell
EBIX Ebix 56.80 71.90  buy
SAP SAP ADR 104.82 167.24  str.buy

COMPANY NEWS

▶ [$$] Henry Ellenbogen's Bet on the Future Pays Off Today   [Aug-19-17 12:33AM  Barrons.com]
▶ Guidewire Software Sees Its Composite Rating Rise To 96   [Jul-18-17 03:00AM  Investor's Business Daily]
▶ Why These 4 Tech Stocks May Beat Apple, Facebook   [Jun-13-17 06:15PM  Investopedia]
▶ Guidewire Software to Present at William Blair Conference   [Jun-07-17 04:15PM  Business Wire]
▶ Strong Results for Guidewire But Shares Overpriced   [Jun-02-17 12:30AM  Morningstar]
▶ Guidewire Software reports 3Q loss   [Jun-01-17 04:26PM  Associated Press]
▶ Guidewire Software to Present at Stifel Conference   [May-31-17 04:15PM  Business Wire]
▶ Guidewire Announces 2017.1 Release of InsurancePlatform   [May-08-17 08:55AM  Business Wire]
▶ Saga Selects Guidewire Core, Data and Digital Products   [Apr-03-17 05:00AM  Business Wire]
▶ Tech: Overvalued Overall, but Opportunities Remain   [Mar-31-17 07:00AM  Morningstar]
▶ 9 New Stocks in the Wide Moat Focus   [Mar-28-17 06:00AM  Morningstar]
▶ Hays Companies Leverages Guidewire Predictive Analytics   [Mar-13-17 08:55AM  Business Wire]
▶ Baron Opportunity Fund Comments on Guidewire Software   [Feb-21-17 11:57AM  Gurufocus]
▶ 4 Tech Firms Cheaper Than Apple   [Feb-14-17 06:00AM  at Morningstar]
▶ Guidewire Software to Present at Goldman Sachs Conference   [Feb-13-17 08:30AM  Business Wire]
▶ Baron Asset Fund Comments on Guidewire Software   [Jan-30-17 03:07PM  Gurufocus]
▶ The 10 Cheapest Stocks in the Wide Moat Focus Index   [Jan-19-17 06:00AM  at Morningstar]
▶ Grinnell Mutual Selects Guidewire Core and Digital Products   [Jan-12-17 08:55AM  Business Wire]
▶ Guidewire to Acquire ISCS   [04:15PM  Business Wire]
▶ ENNIA Adopts Guidewire Predictive Analytics   [Dec-15-16 08:55AM  Business Wire]
▶ Guidewire Aims to Be the Industry Standard   [07:00AM  at Morningstar]
Stock chart of GWRE Financial statements of GWRE
Valuation of Stocks

The paper VALUATION OF STOCKS: The Quest for Intrinsic Value provides a detailed description of our valuation model and discloses the calculation algorithm.

FREE DOWNLOAD
Follow us on:   twitter   twitter   twitter   twitter

VALUATION THEORY       ASSET ALLOCATION

About X-FIN       Site news       Privacy policy       Terms of use       FAQ

Copyright © X-FIN.com 2005-2017. All rigths reserved.