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

Guidewire Software logoGuidewire Software, Inc. (NYSE:GWRE – Get Rating) saw a significant drop in short interest in the month of April. As of April 30th, there was short interest totaling 2,530,000 shares, a drop of 7.7% from the April 15th total of 2,740,000 shares. Approximately 3.1% of the shares of the company are sold short. Based on an average daily volume of 686,600 shares, the days-to-cover ratio is currently 3.7 days.

Guidewire Software Stock Down 1.4 %

GWRE opened at $79.07 on Wednesday. The company has a quick ratio of 3.66, a current ratio of 3.66 and a debt-to-equity ratio of 0.32. The stock has a market cap of $6.45 billion, a price-to-earnings ratio of -39.54 and a beta of 1.27. Guidewire Software has a twelve month low of $52.08 and a twelve month high of $83.14. The company’s 50-day moving average price is $77.23 and its two-hundred day moving average price is $69.53.

Guidewire Software (NYSE:GWRE – Get Rating) last released its quarterly earnings data on Monday, March 6th. The technology company reported ($0.56) EPS for the quarter, missing the consensus estimate of ($0.39) by ($0.17). The business had revenue of $232.61 million during the quarter, compared to the consensus estimate of $222.13 million. Guidewire Software had a negative return on equity of 12.63% and a negative net margin of 19.19%. As a group, equity analysts expect that Guidewire Software will post -1.74 earnings per share for the current year.

Insider Transactions at Guidewire Software

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In related news, insider James Winston King sold 1,526 shares of Guidewire Software stock in a transaction that occurred on Monday, March 20th. The shares were sold at an average price of $76.88, for a total value of $117,318.88. Following the transaction, the insider now directly owns 35,550 shares of the company’s stock, valued at $2,733,084. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible via this hyperlink. In other news, insider James Winston King sold 1,526 shares of Guidewire Software stock in a transaction on Monday, March 20th. The shares were sold at an average price of $76.88, for a total transaction of $117,318.88. Following the transaction, the insider now owns 35,550 shares in the company, valued at $2,733,084. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Michael George Rosenbaum sold 5,265 shares of Guidewire Software stock in a transaction on Friday, March 17th. The stock was sold at an average price of $77.17, for a total transaction of $406,300.05. Following the transaction, the chief executive officer now owns 193,045 shares in the company, valued at approximately $14,897,282.65. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 26,445 shares of company stock valued at $2,037,798. 0.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of GWRE. Dark Forest Capital Management LP bought a new position in Guidewire Software in the 4th quarter valued at $25,000. Ellevest Inc. purchased a new stake in shares of Guidewire Software during the 3rd quarter valued at $29,000. Huntington National Bank raised its position in shares of Guidewire Software by 261.7% during the 4th quarter. Huntington National Bank now owns 463 shares of the technology company’s stock valued at $29,000 after buying an additional 335 shares in the last quarter. Allworth Financial LP raised its position in shares of Guidewire Software by 52.1% during the 1st quarter. Allworth Financial LP now owns 397 shares of the technology company’s stock valued at $33,000 after buying an additional 136 shares in the last quarter. Finally, Western Pacific Wealth Management LP raised its position in shares of Guidewire Software by 41.8% during the 4th quarter. Western Pacific Wealth Management LP now owns 597 shares of the technology company’s stock valued at $37,000 after buying an additional 176 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several equity research analysts have weighed in on GWRE shares. JMP Securities reaffirmed a “market outperform” rating and issued a $95.00 price target on shares of Guidewire Software in a research note on Tuesday, March 7th. StockNews.com raised shares of Guidewire Software from a “sell” rating to a “hold” rating in a research note on Wednesday, April 19th. The Goldman Sachs Group started coverage on shares of Guidewire Software in a research report on Monday, January 23rd. They set a “buy” rating and a $88.00 target price for the company. JPMorgan Chase & Co. boosted their target price on shares of Guidewire Software from $78.00 to $83.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 7th. Finally, Citigroup boosted their target price on shares of Guidewire Software from $67.00 to $81.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 7th. One analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $83.09.

About Guidewire Software

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Guidewire Software, Inc engages in the provision of technology platform, which comprises software, services, and a partner ecosystem, for the global Property and Casualty insurance industry. Its products include InsuranceSuite, PolicyCenter, ClaimCenter, BillingCenter, InsuranceNow, Analytics, Ecosystem, Guidewire for salesforce, and Guidewire Cloud.

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