Shares of property and casualty insurance software vendor Guidewire Software, Inc. (GWRE, Financial) rose in the fourth quarter. Guidewire is the gold standard of P&C core systems vendors, as evidenced by near-perfect retention rates, growing installed base, and accelerating adoption of its complete product suite. The company is in the early innings of a core system replacement cycle, and is dramatically expanding its addressable market through persistent innovation. We believe recent deals with six Tier 1 vendors represent a tipping point in demand. (Neal Rosenberg)
From the Baron Funds Opportunity Fund fourth quarter 2015 commentary.
