San Mateo-Based Gudewire Raises $115 Million in IPO, Shares Spike 33%

San Mateo, Calif. -- Shares of San Mateo-based Guidewire Software spiked 33% on their first day of trading Wednesday after the maker of core system software for the insurance industry raised $115 million in its initial public offering (IPO). The company late Tuesday priced 8.85 million shares at $13 each -- above its expected price range of $10-$12. The shares, trading on the New York Stock Exchange under the symbol "GWRE," closed at $17.30 Guidewire counts more than 100 property and casualty insurers among its clients, including GEICO, Nationwide and CNA.
http://www.guidewire.com/
http://www.guidewire.com/news-and-events/press-releases/2012/guidewire-software-inc-announces-pricing-of-initial-public-offering/
http://www.sec.gov/Archives/edgar/data/1528396/000119312512022157/d287692ds1mef.htm