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

Guidewire Software, Inc. (NYSE:GWRE) saw a large increase in short interest during the month of January. As of January 30th, there was short interest totaling 2,680,583 shares, an increase of 53.2% from the January 15th total of 1,749,649 shares. Currently, 3.2% of the company’s shares are short sold. Based on an average trading volume of 1,664,558 shares, the days-to-cover ratio is currently 1.6 days. Based on an average trading volume of 1,664,558 shares, the days-to-cover ratio is currently 1.6 days. Currently, 3.2% of the company’s shares are short sold.

Guidewire Software Stock Up 1.3%

Shares of NYSE GWRE traded up $1.63 during midday trading on Friday, reaching $126.97. The company’s stock had a trading volume of 1,057,603 shares, compared to its average volume of 1,799,892. The stock has a 50 day simple moving average of $173.13 and a 200-day simple moving average of $209.05. The company has a current ratio of 3.48, a quick ratio of 3.48 and a debt-to-equity ratio of 0.44. The stock has a market capitalization of $10.80 billion, a price-to-earnings ratio of 120.93, a PEG ratio of 8.08 and a beta of 1.06. Guidewire Software has a fifty-two week low of $121.88 and a fifty-two week high of $272.60.

Guidewire Software (NYSE:GWRE) last released its earnings results on Wednesday, December 3rd. The technology company reported $0.66 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.66. Guidewire Software had a net margin of 7.23% and a return on equity of 10.15%. The business had revenue of $332.64 million during the quarter, compared to the consensus estimate of $316.62 million. During the same quarter last year, the firm earned $0.43 earnings per share. The firm’s revenue for the quarter was up 26.5% compared to the same quarter last year. Equities research analysts predict that Guidewire Software will post 0.52 earnings per share for the current year.

Guidewire Software announced that its board has initiated a share repurchase plan on Thursday, January 8th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the technology company to buy up to 3.1% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

Insider Activity at Guidewire Software

In related news, insider James Winston King sold 1,860 shares of Guidewire Software stock in a transaction that occurred on Thursday, December 18th. The shares were sold at an average price of $195.00, for a total transaction of $362,700.00. Following the transaction, the insider owned 33,702 shares of the company’s stock, valued at $6,571,890. This trade represents a 5.23% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Jeffrey Elliott Cooper sold 216 shares of the company’s stock in a transaction that occurred on Tuesday, January 13th. The shares were sold at an average price of $180.87, for a total transaction of $39,067.92. Following the completion of the sale, the chief financial officer directly owned 72,753 shares of the company’s stock, valued at $13,158,835.11. The trade was a 0.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 46,958 shares of company stock worth $9,103,787 in the last ninety days. Company insiders own 0.46% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Advisors Asset Management Inc. bought a new stake in shares of Guidewire Software during the 1st quarter worth approximately $25,000. Sequoia Financial Advisors LLC lifted its stake in Guidewire Software by 4.1% in the second quarter. Sequoia Financial Advisors LLC now owns 1,835 shares of the technology company’s stock valued at $432,000 after acquiring an additional 73 shares during the last quarter. TD Asset Management Inc grew its position in shares of Guidewire Software by 1.0% in the 2nd quarter. TD Asset Management Inc now owns 12,172 shares of the technology company’s stock valued at $2,866,000 after acquiring an additional 120 shares during the period. Ritholtz Wealth Management acquired a new position in shares of Guidewire Software during the 2nd quarter worth about $325,000. Finally, Mutual Advisors LLC raised its holdings in shares of Guidewire Software by 14.1% in the 2nd quarter. Mutual Advisors LLC now owns 1,570 shares of the technology company’s stock valued at $351,000 after purchasing an additional 194 shares during the period.

Analyst Ratings Changes

GWRE has been the topic of a number of research analyst reports. Wells Fargo & Company dropped their price target on Guidewire Software from $250.00 to $210.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 4th. Citigroup increased their target price on Guidewire Software from $242.00 to $245.00 and gave the stock a “neutral” rating in a research note on Friday, December 5th. Wall Street Zen downgraded shares of Guidewire Software from a “buy” rating to a “hold” rating in a report on Friday, November 28th. Citizens Jmp reiterated a “market outperform” rating and issued a $281.00 price target on shares of Guidewire Software in a report on Wednesday, December 10th. Finally, DA Davidson raised shares of Guidewire Software from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $246.00 to $250.00 in a research report on Wednesday, December 17th. Twelve equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $266.64.

About Guidewire Software

Guidewire Software, Inc develops software products and cloud services for property and casualty (P&C) insurance carriers. Headquartered in San Mateo, California, the company’s offerings are designed to help insurers manage the core functions of their business—policy administration, billing and claims—while supporting digital engagement, analytics and operational modernization.

Guidewire’s core product portfolio is commonly known as the InsuranceSuite, which includes PolicyCenter for policy administration, BillingCenter for billing and receivables, and ClaimCenter for claims management.