Shares of property and casualty insurance software vendor Guidewire Software, Inc. (NYSE:GWRE) detracted in the fourth quarter as accounting rules and commercial terms will force it to delay revenue recognition on a large new deal into next fiscal year. Guidewire is the leading P&C core systems vendor, with near-perfect retention rates, growing installed base, and accelerating adoption. The company is early in its core system replacement cycle, and has tripled its addressable market through new products and cloud delivery. We believe Accenture’s new relationship with Guidewire will help to enhance pricing and win rates and shorten sales cycles. (Neal Rosenberg)
From Baron Funds' Baron Opportunity Fund fourth quarter 2016 commentary.
