Short Interest in Guidewire Software, Inc. (NYSE:GWRE) Declines By 13.7%

Guidewire Software, Inc. (NYSE:GWRE) was the target of a large decrease in short interest in February. As of February 28th, there was short interest totalling 3,200,000 shares, a decrease of 13.7% from the February 13th total of 3,710,000 shares. Based on an average daily trading volume, of 1,330,000 shares, the days-to-cover ratio is presently 2.4 days. Currently, 3.8% of the company’s stock are sold short.

Guidewire Software Trading Down 1.5 %

Shares of NYSE:GWRE opened at $193.25 on Friday. Guidewire Software has a 52-week low of $107.00 and a 52-week high of $219.59. The stock has a market cap of $16.21 billion, a price-to-earnings ratio of 536.81, a PEG ratio of 37.21 and a beta of 1.31. The company has a quick ratio of 2.66, a current ratio of 2.66 and a debt-to-equity ratio of 0.53. The business has a 50-day moving average price of $197.06 and a 200-day moving average price of $186.82.

Guidewire Software (NYSE:GWRE) last announced its quarterly earnings data on Thursday, March 6th. The technology company reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.44). The firm had revenue of $289.48 million during the quarter, compared to analysts’ expectations of $285.74 million. Guidewire Software had a return on equity of 2.38% and a net margin of 2.91%. Equities analysts predict that Guidewire Software will post 0.52 EPS for the current year.

Insider Transactions at Guidewire Software

In related news, President John P. Mullen sold 6,116 shares of the firm’s stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $189.41, for a total transaction of $1,158,431.56. Following the sale, the president now owns 166,330 shares of the company’s stock, valued at $31,504,565.30. This trade represents a 3.55 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Michael George Rosenbaum sold 1,400 shares of the firm’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $174.78, for a total value of $244,692.00. Following the sale, the chief executive officer now directly owns 280,330 shares in the company, valued at approximately $48,996,077.40. The trade was a 0.50 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 35,780 shares of company stock valued at $6,886,553. 0.48% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Atomi Financial Group Inc. raised its position in Guidewire Software by 22.2% during the fourth quarter. Atomi Financial Group Inc. now owns 2,688 shares of the technology company’s stock valued at $453,000 after acquiring an additional 488 shares in the last quarter. Donoghue Forlines LLC purchased a new position in Guidewire Software during the fourth quarter valued at approximately $2,110,000. Icon Wealth Advisors LLC raised its position in Guidewire Software by 72.4% during the third quarter. Icon Wealth Advisors LLC now owns 5,984 shares of the technology company’s stock valued at $1,095,000 after acquiring an additional 2,512 shares in the last quarter. GDS Wealth Management raised its position in Guidewire Software by 618.5% during the fourth quarter. GDS Wealth Management now owns 18,752 shares of the technology company’s stock valued at $3,161,000 after acquiring an additional 16,142 shares in the last quarter. Finally, Whale Rock Capital Management LLC raised its position in Guidewire Software by 3.3% during the third quarter. Whale Rock Capital Management LLC now owns 972,743 shares of the technology company’s stock valued at $177,954,000 after acquiring an additional 31,512 shares in the last quarter.

Analyst Upgrades and Downgrades

GWRE has been the topic of a number of recent research reports. JPMorgan Chase & Co. raised their price objective on Guidewire Software from $228.00 to $231.00 and gave the company an “overweight” rating in a research report on Friday, March 7th. DA Davidson reiterated a “buy” rating and issued a $210.00 price target on shares of Guidewire Software in a research note on Wednesday, December 4th. Robert W. Baird increased their price target on Guidewire Software from $230.00 to $236.00 and gave the company an “outperform” rating in a research note on Friday, March 7th. The Goldman Sachs Group increased their price target on Guidewire Software from $210.00 to $240.00 and gave the company a “buy” rating in a research note on Monday, February 10th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Guidewire Software in a research note on Friday, March 7th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $206.08.

About Guidewire Software

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.