Guidewire Software, Inc. (NYSE:GWRE) Sees Significant Decrease in Short Interest

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

Guidewire Software Stock Performance

NYSE:GWRE traded down $2.50 on Thursday, hitting $193.76. The company’s stock had a trading volume of 419,132 shares, compared to its average volume of 859,600. The company has a current ratio of 2.66, a quick ratio of 2.66 and a debt-to-equity ratio of 0.53. The stock has a fifty day moving average of $196.62 and a two-hundred day moving average of $186.78. The firm has a market capitalization of $16.25 billion, a P/E ratio of 537.15, a price-to-earnings-growth ratio of 37.21 and a beta of 1.31. Guidewire Software has a one year low of $107.00 and a one year high of $219.59.

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

Insider Buying and Selling at Guidewire Software

In other Guidewire Software 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 value of $1,158,431.56. Following the completion of the sale, the president now owns 166,330 shares of the company’s stock, valued at approximately $31,504,565.30. This trade represents a 3.55 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider James Winston King sold 270 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $174.78, for a total value of $47,190.60. Following the completion of the transaction, the insider now directly owns 45,664 shares of the company’s stock, valued at $7,981,153.92. The trade was a 0.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 35,174 shares of company stock valued at $6,746,147 in the last three months. 0.48% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Guidewire Software

Large investors have recently modified their holdings of the business. Versant Capital Management Inc acquired a new stake in shares of Guidewire Software during the 4th quarter valued at $25,000. Ossiam bought a new stake in shares of Guidewire Software in the 4th quarter worth approximately $29,000. Assetmark Inc. increased its holdings in shares of Guidewire Software by 537.0% in the third quarter. Assetmark Inc. now owns 172 shares of the technology company’s stock worth $31,000 after purchasing an additional 145 shares during the period. Point72 Hong Kong Ltd purchased a new position in Guidewire Software in the third quarter worth $33,000. Finally, Cullen Frost Bankers Inc. bought a new position in shares of Guidewire Software during the fourth quarter valued at about $34,000.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on GWRE. Needham & Company LLC restated a “hold” rating on shares of Guidewire Software in a report on Friday, March 7th. JMP Securities reaffirmed a “market outperform” rating and issued a $231.00 price objective on shares of Guidewire Software in a research note on Friday, December 6th. Royal Bank of Canada lifted their price objective on Guidewire Software from $215.00 to $230.00 and gave the company an “outperform” rating in a research report on Friday, December 6th. Oppenheimer lifted their price objective on Guidewire Software from $220.00 to $230.00 and gave the company an “outperform” rating in a research report on Friday, December 6th. Finally, DA Davidson reiterated a “buy” rating and issued a $210.00 target price on shares of Guidewire Software in a report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus 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.