Guidewire Software, Inc. (NYSE:GWRE) Short Interest Down 31.9% in May

Guidewire Software, Inc. (NYSE:GWRE - Get Free Report) was the recipient of a large decrease in short interest in May. As of May 31st, there was short interest totalling 2,620,000 shares, a decrease of 31.9% from the May 15th total of 3,850,000 shares. Based on an average daily volume of 916,600 shares, the short-interest ratio is presently 2.9 days. Currently, 3.2% of the shares of the company are short sold.

Guidewire Software Price Performance

Shares of NYSE GWRE opened at $250.25 on Tuesday. The stock has a fifty day simple moving average of $213.37 and a two-hundred day simple moving average of $197.60. Guidewire Software has a 1-year low of $131.82 and a 1-year high of $263.20. The firm has a market cap of $21.07 billion, a price-to-earnings ratio of 696.61, a price-to-earnings-growth ratio of 37.21 and a beta of 1.15. The company has a current ratio of 2.66, a quick ratio of 2.66 and a debt-to-equity ratio of 0.53.

Guidewire Software (NYSE:GWRE - Get Free Report) last announced its quarterly earnings data on Tuesday, June 3rd. The technology company reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.41. Guidewire Software had a return on equity of 2.38% and a net margin of 2.91%. The business had revenue of $293.51 million during the quarter, compared to analyst estimates of $286.40 million. During the same period in the prior year, the company earned $0.26 earnings per share. Guidewire Software's revenue was up 22.0% compared to the same quarter last year. Analysts anticipate that Guidewire Software will post 0.52 earnings per share for the current year.

Wall Street Analyst Weigh In

GWRE has been the topic of a number of recent analyst reports. Oppenheimer boosted their price objective on Guidewire Software from $230.00 to $275.00 and gave the company an "outperform" rating in a research note on Wednesday, June 4th. Needham & Company LLC reaffirmed a "hold" rating on shares of Guidewire Software in a research note on Wednesday, June 4th. Stifel Nicolaus raised their price objective on shares of Guidewire Software from $230.00 to $270.00 and gave the company a "buy" rating in a research note on Wednesday, June 4th. Robert W. Baird raised their price objective on shares of Guidewire Software from $230.00 to $236.00 and gave the company an "outperform" rating in a research note on Friday, March 7th. Finally, Raymond James boosted their price objective on Guidewire Software from $225.00 to $255.00 and gave the stock an "outperform" rating in a report on Wednesday, June 4th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eleven have issued a buy rating to the company's stock. According to data from MarketBeat.com, Guidewire Software presently has an average rating of "Moderate Buy" and an average target price of $247.00.

Insiders Place Their Bets

In other Guidewire Software news, CEO Michael George Rosenbaum sold 1,400 shares of the firm's stock in a transaction on Monday, April 7th. The stock was sold at an average price of $167.82, for a total transaction of $234,948.00. Following the transaction, the chief executive officer now owns 258,593 shares in the company, valued at $43,397,077.26. This trade represents a 0.54% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President John P. Mullen sold 2,300 shares of Guidewire Software stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $187.95, for a total value of $432,285.00. Following the transaction, the president now directly owns 164,030 shares in the company, valued at $30,829,438.50. The trade was a 1.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 16,300 shares of company stock worth $3,263,183 in the last quarter. Corporate insiders own 0.48% of the company's stock.

Hedge Funds Weigh In On Guidewire Software

Hedge funds have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC boosted its stake in Guidewire Software by 985.4% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 22,598 shares of the technology company's stock valued at $3,830,000 after buying an additional 20,516 shares during the period. Asset Management One Co. Ltd. boosted its stake in Guidewire Software by 7.0% during the fourth quarter. Asset Management One Co. Ltd. now owns 79,218 shares of the technology company's stock valued at $13,490,000 after buying an additional 5,208 shares during the period. State of New Jersey Common Pension Fund D lifted its stake in Guidewire Software by 2.6% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 27,566 shares of the technology company's stock worth $4,647,000 after purchasing an additional 707 shares during the last quarter. CIBC Asset Management Inc lifted its stake in Guidewire Software by 5.3% during the fourth quarter. CIBC Asset Management Inc now owns 2,582 shares of the technology company's stock worth $435,000 after purchasing an additional 131 shares during the last quarter. Finally, Truist Financial Corp lifted its stake in Guidewire Software by 21.8% during the fourth quarter. Truist Financial Corp now owns 9,645 shares of the technology company's stock worth $1,626,000 after purchasing an additional 1,724 shares during the last quarter.

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.

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