Shares of P&C insurance software vendor Guidewire Software, Inc. (NYSE:GWRE) were up in the first quarter. Guidewire is the leading P&C core systems vendor, as evidenced by 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 that Accenture’s new relationship with Guidewire will help to enhance pricing and win rates and shorten sales cycles. (Neal Rosenberg)
From the Baron Opportunity Fund first quarter 2017 shareholder letter.