RiverPark Advisors, an investment advisory firm and sponsor of the RiverPark family of mutual funds released “The RiverPark/Next Century Growth Fund” Q4 2023 investor letter in partnership with Next Century Growth Investors, LLC. A copy of the same can be downloaded here. The fund returned 4.75% in the fourth quarter compared to a 12.75% return for the Russell 2000 Growth Total Return Index. The recent market rally highlights the significance of macroeconomic indicators and the Fed’s stance on interest rates. In addition, please check the fund’s top five holdings to know its best picks in 2023.
The RiverPark/Next Century Growth Fund featured stocks like Guidewire Software, Inc. (NYSE:GWRE) in the fourth quarter 2023 investor letter. Headquartered in San Mateo, California, Guidewire Software, Inc. (NYSE:GWRE) is a software product-providing company for P&C insurers.On April 3, 2024, Guidewire Software, Inc. (NYSE:GWRE) stock closed at $115.10 per share. One-month return of Guidewire Software, Inc. (NYSE:GWRE) was -0.44%, and its shares gained 48.29% of their value over the last 52 weeks. Guidewire Software, Inc. (NYSE:GWRE) has a market capitalization of $9.685 billion.
The RiverPark/Next Century Growth Fund stated the following regarding Guidewire Software, Inc. (NYSE:GWRE) in its fourth quarter 2023 investor letter:
“Guidewire Software, Inc. (NYSE:GWRE) provides a software platform for P&C insurance companies to run their businesses (policies, claims, billing, data & analytics). Traditionally, P&C insurance companies have used legacy, on-premise solutions or homegrown systems, which have difficulty scaling as companies grow. GWRE currently has >500 customers and targets the Top 2,000 insurers worldwide. GWRE is a company we owned in the past but sold due to a business model transition which caused some growing pains. They are now mostly through the transition and are experiencing increased adoption of their next generation platform as more and more insurers are moving their core systems to the cloud. Following many years of increased investment in product and go-to-market initiatives, GWRE should be in position to deliver solid revenue growth and improved profit margins and free cash flow.”
An insurance adjuster reviewing images and paperwork to process a claim.
Guidewire Software, Inc. (NYSE:GWRE) is not on our list of 30 Most Popular Stocks Among Hedge Funds. At the end of the fourth quarter, Guidewire Software, Inc. (NYSE:GWRE) was held by 33 hedge fund portfolios, up from 31 in the previous quarter, according to our database.
We discussed Guidewire Software, Inc. (NYSE:GWRE) in another article and shared Baron FinTech Fund’s views on the company. In addition, please check out our hedge fund investor letters Q4 2023 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
