Guidewire Software, Inc. (NYSE:GWRE) Short Interest Update

Guidewire Software, Inc. (NYSE:GWRE) saw a large decline in short interest in the month of July. As of July 15th, there was short interest totalling 1,910,000 shares, a decline of 7.7% from the June 30th total of 2,070,000 shares. Currently, 2.3% of the company’s shares are short sold. Based on an average daily volume of 619,600 shares, the days-to-cover ratio is presently 3.1 days.

Guidewire Software Stock Down 0.7 %

Shares of GWRE stock traded down $1.11 on Thursday, reaching $148.96. The company’s stock had a trading volume of 633,770 shares, compared to its average volume of 634,690. The stock’s 50 day simple moving average is $134.74 and its 200-day simple moving average is $122.08. Guidewire Software has a 12-month low of $78.05 and a 12-month high of $153.85. The company has a market capitalization of $12.31 billion, a P/E ratio of -1,147.69 and a beta of 1.19.

Guidewire Software (NYSE:GWRE) last released its quarterly earnings results on Tuesday, June 4th. The technology company reported ($0.09) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.14. Guidewire Software had a negative return on equity of 1.19% and a negative net margin of 1.11%. The business had revenue of $240.68 million for the quarter, compared to the consensus estimate of $231.46 million. Research analysts expect that Guidewire Software will post -0.31 EPS for the current year.

Insider Activity

In other news, CEO Michael George Rosenbaum sold 5,582 shares of the business’s stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of $134.54, for a total value of $751,002.28. Following the transaction, the chief executive officer now directly owns 239,793 shares of the company’s stock, valued at approximately $32,261,750.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Michael George Rosenbaum sold 5,582 shares of the stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $134.54, for a total value of $751,002.28. Following the completion of the sale, the chief executive officer now directly owns 239,793 shares of the company’s stock, valued at $32,261,750.22. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider John P. Mullen sold 1,350 shares of the stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $123.16, for a total value of $166,266.00. Following the completion of the sale, the insider now directly owns 146,697 shares of the company’s stock, valued at $18,067,202.52. The disclosure for this sale can be found here. Insiders have sold 13,064 shares of company stock valued at $1,747,850 in the last ninety days. 0.38% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Alberta Investment Management Corp grew its stake in shares of Guidewire Software by 11.1% in the fourth quarter. Alberta Investment Management Corp now owns 33,678 shares of the technology company’s stock worth $3,672,000 after purchasing an additional 3,355 shares during the last quarter. Teca Partners LP boosted its position in Guidewire Software by 31.1% during the 4th quarter. Teca Partners LP now owns 195,599 shares of the technology company’s stock valued at $21,328,000 after acquiring an additional 46,453 shares in the last quarter. Kapitalo Investimentos Ltda bought a new stake in Guidewire Software during the 4th quarter valued at approximately $204,000. Wasatch Advisors LP boosted its position in Guidewire Software by 4.2% during the 1st quarter. Wasatch Advisors LP now owns 2,874,758 shares of the technology company’s stock valued at $335,513,000 after acquiring an additional 115,600 shares in the last quarter. Finally, SG Americas Securities LLC bought a new stake in Guidewire Software during the 1st quarter valued at approximately $417,000.

Analysts Set New Price Targets

GWRE has been the subject of several recent analyst reports. Royal Bank of Canada upped their target price on Guidewire Software from $130.00 to $170.00 and gave the company an “outperform” rating in a report on Thursday, June 27th. JPMorgan Chase & Co. increased their price objective on Guidewire Software from $133.00 to $145.00 and gave the company an “overweight” rating in a report on Wednesday, June 5th. Robert W. Baird increased their price objective on Guidewire Software from $140.00 to $152.00 and gave the company an “outperform” rating in a report on Thursday, June 6th. Citigroup increased their price objective on Guidewire Software from $109.00 to $122.00 and gave the company a “neutral” rating in a report on Tuesday, June 4th. Finally, Oppenheimer increased their price objective on Guidewire Software from $130.00 to $140.00 and gave the company an “outperform” rating in a report on Wednesday, June 5th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $137.31.

Guidewire Software Company Profile

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.