Short Interest in Guidewire Software, Inc. (NYSE:GWRE) Expands By 7.1%

Guidewire Software, Inc. (NYSE:GWRE) saw a large growth in short interest during the month of October. As of October 15th, there was short interest totalling 1,820,000 shares, a growth of 7.1% from the September 30th total of 1,700,000 shares. Based on an average daily volume of 852,700 shares, the days-to-cover ratio is presently 2.1 days. Currently, 2.2% of the company’s stock are sold short.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. JPMorgan Chase & Co. upped their price target on Guidewire Software from $170.00 to $210.00 and gave the stock an “overweight” rating in a research note on Thursday, October 3rd. Wells Fargo & Company increased their target price on Guidewire Software from $200.00 to $205.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. Stifel Nicolaus increased their target price on Guidewire Software from $175.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. The Goldman Sachs Group increased their target price on Guidewire Software from $146.00 to $170.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. Finally, JMP Securities increased their target price on Guidewire Software from $179.00 to $200.00 and gave the company a “market outperform” rating in a research note on Friday, October 11th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $178.62.

Insiders Place Their Bets

In related news, CEO Michael George Rosenbaum sold 23,379 shares of the company’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $172.16, for a total transaction of $4,024,928.64. Following the completion of the transaction, the chief executive officer now directly owns 287,662 shares in the company, valued at $49,523,889.92. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider John P. Mullen sold 1,350 shares of the company’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $149.03, for a total transaction of $201,190.50. Following the transaction, the insider now directly owns 137,821 shares of the company’s stock, valued at approximately $20,539,463.63. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael George Rosenbaum sold 23,379 shares of the company’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $172.16, for a total value of $4,024,928.64. Following the completion of the transaction, the chief executive officer now directly owns 287,662 shares in the company, valued at approximately $49,523,889.92. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 52,601 shares of company stock worth $9,050,448 in the last three months. 0.38% of the stock is owned by insiders.

Institutional Investors Weigh In On Guidewire Software

Several hedge funds have recently bought and sold shares of GWRE. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Guidewire Software by 21.1% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 345 shares of the technology company’s stock worth $63,000 after purchasing an additional 60 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of Guidewire Software by 4.0% in the second quarter. Allspring Global Investments Holdings LLC now owns 2,050 shares of the technology company’s stock valued at $283,000 after purchasing an additional 79 shares during the period. Vanguard Personalized Indexing Management LLC increased its holdings in shares of Guidewire Software by 1.3% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 9,078 shares of the technology company’s stock valued at $1,252,000 after purchasing an additional 116 shares during the period. CHICAGO TRUST Co NA increased its holdings in shares of Guidewire Software by 4.8% in the second quarter. CHICAGO TRUST Co NA now owns 2,845 shares of the technology company’s stock valued at $392,000 after purchasing an additional 130 shares during the period. Finally, Legacy Advisors LLC grew its holdings in Guidewire Software by 1.6% during the second quarter. Legacy Advisors LLC now owns 8,329 shares of the technology company’s stock worth $1,148,000 after acquiring an additional 135 shares during the period.

Guidewire Software Price Performance

Shares of NYSE:GWRE traded down $1.16 during trading on Friday, hitting $185.10. The company’s stock had a trading volume of 236,253 shares, compared to its average volume of 694,144. The company has a 50-day moving average of $173.01 and a 200-day moving average of $145.43. The firm has a market cap of $15.46 billion, a price-to-earnings ratio of -2,313.46, a P/E/G ratio of 49.03 and a beta of 1.19. Guidewire Software has a 12 month low of $89.08 and a 12 month high of $191.48.

Guidewire Software (NYSE:GWRE) last posted its earnings results on Thursday, September 5th. The technology company reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.54 by $0.08. The firm had revenue of $291.50 million during the quarter, compared to analyst estimates of $283.84 million. Guidewire Software had a negative net margin of 0.62% and a negative return on equity of 1.29%. Guidewire Software’s revenue for the quarter was up 8.0% compared to the same quarter last year. During the same period last year, the firm posted $0.30 earnings per share. As a group, research analysts anticipate that Guidewire Software will post 0.53 earnings per share for the current year.

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.