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

Guidewire Software, Inc. (NYSE:GWREGet Free Report) was the recipient of a significant decrease in short interest during the month of March. As of March 15th, there was short interest totalling 2,380,000 shares, a decrease of 11.2% from the February 29th total of 2,680,000 shares. Currently, 2.9% of the company’s stock are short sold. Based on an average daily volume of 679,300 shares, the days-to-cover ratio is presently 3.5 days.

Analyst Upgrades and Downgrades

Several analysts have commented on GWRE shares. Robert W. Baird lifted their price objective on shares of Guidewire Software from $131.00 to $140.00 and gave the stock an “outperform” rating in a research report on Thursday, March 7th. DA Davidson reissued a “buy” rating and set a $126.00 price objective on shares of Guidewire Software in a report on Tuesday, March 5th. Wells Fargo & Company upgraded Guidewire Software from an “equal weight” rating to an “overweight” rating in a research note on Wednesday, December 20th. Raymond James started coverage on Guidewire Software in a research note on Thursday, February 1st. They set an “outperform” rating and a $125.00 price target for the company. Finally, Oppenheimer boosted their price objective on Guidewire Software from $115.00 to $130.00 and gave the company an “outperform” rating in a research note on Thursday, February 22nd. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, Guidewire Software currently has an average rating of “Moderate Buy” and a consensus price target of $115.11.

Read Our Latest Stock Report on Guidewire Software

Insider Transactions at Guidewire Software

In related news, CFO Jeffrey Elliott Cooper sold 458 shares of Guidewire Software stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $112.10, for a total transaction of $51,341.80. Following the transaction, the chief financial officer now owns 72,386 shares of the company’s stock, valued at $8,114,470.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Guidewire Software news, CFO Jeffrey Elliott Cooper sold 458 shares of the company’s stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $112.10, for a total value of $51,341.80. Following the completion of the sale, the chief financial officer now directly owns 72,386 shares of the company’s stock, valued at approximately $8,114,470.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider James Winston King sold 1,075 shares of the stock in a transaction that occurred on Thursday, January 11th. The shares were sold at an average price of $110.77, for a total value of $119,077.75. Following the sale, the insider now directly owns 45,410 shares of the company’s stock, valued at $5,030,065.70. The disclosure for this sale can be found here. Insiders sold a total of 9,618 shares of company stock valued at $1,073,918 over the last ninety days. 0.38% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Guidewire Software

A number of hedge funds have recently modified their holdings of GWRE. Banque Cantonale Vaudoise purchased a new stake in Guidewire Software in the third quarter worth $25,000. RiverPark Advisors LLC bought a new position in Guidewire Software in the 4th quarter worth $27,000. Transcendent Capital Group LLC purchased a new stake in shares of Guidewire Software in the 4th quarter worth about $27,000. CENTRAL TRUST Co bought a new stake in shares of Guidewire Software during the 3rd quarter valued at about $29,000. Finally, Pinebridge Investments L.P. increased its position in shares of Guidewire Software by 490.9% during the second quarter. Pinebridge Investments L.P. now owns 390 shares of the technology company’s stock valued at $30,000 after buying an additional 324 shares during the period.

Guidewire Software Trading Down 0.4 %

NYSE GWRE traded down $0.42 during trading on Tuesday, hitting $115.62. 661,150 shares of the company’s stock traded hands, compared to its average volume of 668,115. The firm has a market cap of $9.52 billion, a P/E ratio of -186.48 and a beta of 1.15. The stock has a fifty day moving average of $115.85 and a two-hundred day moving average of $104.05. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.45 and a quick ratio of 3.45. Guidewire Software has a 12-month low of $68.45 and a 12-month high of $122.35.

Guidewire Software (NYSE:GWREGet Free Report) last announced its quarterly earnings data on Thursday, March 7th. The technology company reported $0.04 earnings per share for the quarter, beating the consensus estimate of ($0.18) by $0.22. Guidewire Software had a negative return on equity of 3.60% and a negative net margin of 5.48%. The firm had revenue of $240.90 million during the quarter, compared to the consensus estimate of $240.93 million. As a group, sell-side analysts expect that Guidewire Software will post -0.5 EPS for the current year.

Guidewire Software Company Profile

(Get Free Report)

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.

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