Short Interest in Guidewire Software, Inc. (NYSE:GWRE) Drops By 5.9%

Guidewire Software, Inc. (NYSE:GWRE) was the target of a significant decline in short interest during the month of November. As of November 15th, there was short interest totalling 1,750,000 shares, a decline of 5.9% from the October 31st total of 1,860,000 shares. Based on an average daily trading volume, of 869,600 shares, the short-interest ratio is presently 2.0 days. Approximately 2.1% of the company’s stock are sold short.

Insiders Place Their Bets

In related news, CEO Michael George Rosenbaum sold 23,379 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $172.16, for a total value of $4,024,928.64. Following the sale, the chief executive officer now owns 287,662 shares in the company, valued at approximately $49,523,889.92. This trade represents a 7.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider John P. Mullen sold 6,718 shares of Guidewire Software stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $172.16, for a total value of $1,156,570.88. Following the completion of the sale, the insider now directly owns 160,099 shares of the company’s stock, valued at $27,562,643.84. The trade was a 4.03 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 52,601 shares of company stock valued at $9,116,179. Insiders own 0.48% of the company’s stock.

Institutional Trading of Guidewire Software

Institutional investors have recently bought and sold shares of the stock. Assetmark Inc. lifted its holdings in shares of Guidewire Software by 537.0% during 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 stake in Guidewire Software in the third quarter valued at $33,000. Rothschild Investment LLC acquired a new stake in Guidewire Software during the 2nd quarter worth about $31,000. Brooklyn Investment Group purchased a new position in shares of Guidewire Software during the 3rd quarter valued at about $42,000. Finally, DT Investment Partners LLC acquired a new position in shares of Guidewire Software in the 2nd quarter valued at about $41,000.

Analyst Ratings Changes

GWRE has been the topic of a number of research reports. JPMorgan Chase & Co. boosted their target price on shares of Guidewire Software from $170.00 to $210.00 and gave the company an “overweight” rating in a research report on Thursday, October 3rd. DA Davidson reissued a “buy” rating and set a $168.00 price objective on shares of Guidewire Software in a research report on Friday, September 6th. Citigroup lifted their target price on Guidewire Software from $123.00 to $165.00 and gave the company a “neutral” rating in a research report on Monday, September 9th. Stifel Nicolaus upped their price target on Guidewire Software from $200.00 to $220.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. Finally, Oppenheimer boosted their price objective on Guidewire Software from $200.00 to $220.00 and gave the company an “outperform” rating in a research note on Tuesday, November 19th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $186.08.

Guidewire Software Trading Up 1.6 %

Shares of NYSE:GWRE opened at $204.07 on Wednesday. The company has a market capitalization of $17.04 billion, a PE ratio of -2,550.49, a P/E/G ratio of 51.96 and a beta of 1.18. Guidewire Software has a 12-month low of $95.02 and a 12-month high of $207.10. The business’s fifty day simple moving average is $190.39 and its 200-day simple moving average is $159.53.

Guidewire Software (NYSE:GWRE) last released its quarterly earnings results on Thursday, September 5th. The technology company reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.08. The business had revenue of $291.50 million for 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%. The business’s revenue for the quarter was up 8.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.30 earnings per share. Research analysts predict that Guidewire Software will post 0.53 EPS 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.