Tearsheet

Guidewire Software (GWRE)


Market Price (7/15/2026): $140.73 | Market Cap: $11.9 BilSector: Information Technology | Industry: Application Software

Guidewire Software (GWRE)


Market Price (7/15/2026): $140.73
Market Cap: $11.9 Bil
Sector: Information Technology
Industry: Application Software

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0

Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 25%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 22%

Valuation becoming less expensive
P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -34%

Megatrend and thematic drivers
Megatrends include Cloud Computing, and AI in Financial Services. Themes include Software as a Service (SaaS), and AI for Fraud Detection.

Weak multi-year price returns
2Y Excs Rtn is -34%

Expensive valuation multiples
P/EBITPrice/EBIT or Price/(Operating Income) ratio is 68x, P/EPrice/Earnings or Price/(Net Income) is 74x

Significant share based compensation
SBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 12%

Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -2.9%

Key risks
GWRE key risks include [1] intense competition and [2] a high dependence on the North American property and casualty (P&C) insurance market.

0 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 25%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 22%
1 Valuation becoming less expensive
P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -34%
2 Megatrend and thematic drivers
Megatrends include Cloud Computing, and AI in Financial Services. Themes include Software as a Service (SaaS), and AI for Fraud Detection.
3 Weak multi-year price returns
2Y Excs Rtn is -34%
4 Expensive valuation multiples
P/EBITPrice/EBIT or Price/(Operating Income) ratio is 68x, P/EPrice/Earnings or Price/(Net Income) is 74x
5 Significant share based compensation
SBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 12%
6 Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -2.9%
7 Key risks
GWRE key risks include [1] intense competition and [2] a high dependence on the North American property and casualty (P&C) insurance market.

GWRE in ETFs

Weight = GWRE's share of each fund

VTI0.02%
ITOT0.02%
IWB0.02%
IJH0.32%
VB0.16%
MDYG0.62%
IJK0.61%
IGV0.43%
+21 more covered ETFs

Valuation & Metrics

Price Chart

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

Updated on 7/6/2026

Guidewire Software (GWRE) stock has lost about 5% since 3/31/2026 because of the following key factors:

1. Stock Decline Post-Q3 Fiscal 2026 Earnings Despite Beat.

Despite Guidewire Software reporting strong financial results for its fiscal third quarter ended April 30, 2026, the company's stock experienced a significant drop. On June 4, 2026, Guidewire announced non-GAAP earnings per share (EPS) of $0.82, surpassing analysts' consensus estimates of $0.74 by $0.08. Additionally, quarterly revenue rose 26.9% year-over-year to $372.54 million, exceeding the consensus estimate of $355.92 million. However, shares of the company dropped approximately 14% in after-market trading on June 4, 2026, following the release. This negative market reaction was primarily attributed to investors and analysts perceiving the company's updated full-year fiscal 2026 Annual Recurring Revenue (ARR) guidance, though raised, as "softer" or "slightly below broader market expectations" for the full fiscal year, which ends July 31, 2026.

2. Widespread Analyst Price Target Reductions and Re-rating.

In the immediate aftermath of the Q3 Fiscal 2026 earnings report, multiple investment firms revised their outlook and lowered price targets for Guidewire Software. For instance, Goldman Sachs Group decreased its price target from $255.00 to $225.00, BTIG Research cut its target from $200.00 to $175.00, Oppenheimer reduced its price objective from $250.00 to $180.00, and Wells Fargo lowered its target from $210.00 to $190.00. These reductions reflected a re-evaluation of the company's future growth trajectory and valuation multiples, contributing to the downward pressure on the stock price in the period following the earnings announcement.

Show more
Updated on 7/6/2026

Guidewire Software (GWRE) stock has lost about 5% since 3/31/2026 because of the following key factors:

1. Stock Decline Post-Q3 Fiscal 2026 Earnings Despite Beat.

Despite Guidewire Software reporting strong financial results for its fiscal third quarter ended April 30, 2026, the company's stock experienced a significant drop. On June 4, 2026, Guidewire announced non-GAAP earnings per share (EPS) of $0.82, surpassing analysts' consensus estimates of $0.74 by $0.08. Additionally, quarterly revenue rose 26.9% year-over-year to $372.54 million, exceeding the consensus estimate of $355.92 million. However, shares of the company dropped approximately 14% in after-market trading on June 4, 2026, following the release. This negative market reaction was primarily attributed to investors and analysts perceiving the company's updated full-year fiscal 2026 Annual Recurring Revenue (ARR) guidance, though raised, as "softer" or "slightly below broader market expectations" for the full fiscal year, which ends July 31, 2026.

2. Widespread Analyst Price Target Reductions and Re-rating.

In the immediate aftermath of the Q3 Fiscal 2026 earnings report, multiple investment firms revised their outlook and lowered price targets for Guidewire Software. For instance, Goldman Sachs Group decreased its price target from $255.00 to $225.00, BTIG Research cut its target from $200.00 to $175.00, Oppenheimer reduced its price objective from $250.00 to $180.00, and Wells Fargo lowered its target from $210.00 to $190.00. These reductions reflected a re-evaluation of the company's future growth trajectory and valuation multiples, contributing to the downward pressure on the stock price in the period following the earnings announcement.

3. Broader Sector Multiple Compression Affecting Valuation.

Beyond company-specific guidance interpretations, Guidewire's stock decline was also influenced by a broader market trend of "sector multiple compression" impacting software stocks. This macroeconomic factor suggests that investors were re-evaluating the valuation multiples of companies within the software industry, leading to a general repricing of these assets. This "harsh multiple reset" is evident in Guidewire's stock, which saw its price drop from peaks above $170 on June 1, 2026, to lows near $102.69 by June 22, 2026, before some recovery, indicating a broader market sentiment shift rather than solely company-specific underperformance.

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Stock Movement Drivers

Fundamental Drivers

The -5.9% change in GWRE stock from 3/31/2026 to 7/14/2026 was primarily driven by a -20.3% change in the company's Net Income Margin (%).
(LTM values as of)33120267142026Change
Stock Price ($)149.56140.71-5.9%
Change Contribution By: 
Total Revenues ($ Mil)1,3421,4215.9%
Net Income Margin (%)14.1%11.2%-20.3%
P/E Multiple67.074.210.6%
Shares Outstanding (Mil)85840.7%
Cumulative Contribution-5.9%

LTM = Last Twelve Months as of date shown

Market Drivers

3/31/2026 to 7/14/2026
ReturnCorrelation
GWRE-5.9% 
Market (SPY)15.6%3.8%
Sector (XLK)38.2%6.2%

Fundamental Drivers

The -30.0% change in GWRE stock from 12/31/2025 to 7/14/2026 was primarily driven by a -60.0% change in the company's P/E Multiple.
(LTM values as of)123120257142026Change
Stock Price ($)201.01140.71-30.0%
Change Contribution By: 
Total Revenues ($ Mil)1,2721,42111.7%
Net Income Margin (%)7.2%11.2%55.6%
P/E Multiple185.374.2-60.0%
Shares Outstanding (Mil)85840.6%
Cumulative Contribution-30.0%

LTM = Last Twelve Months as of date shown

Market Drivers

12/31/2025 to 7/14/2026
ReturnCorrelation
GWRE-30.0% 
Market (SPY)10.6%13.3%
Sector (XLK)27.7%15.4%

Fundamental Drivers

The -40.2% change in GWRE stock from 6/30/2025 to 7/14/2026 was primarily driven by a -87.0% change in the company's P/E Multiple.
(LTM values as of)63020257142026Change
Stock Price ($)235.45140.71-40.2%
Change Contribution By: 
Total Revenues ($ Mil)1,1371,42124.9%
Net Income Margin (%)3.0%11.2%269.7%
P/E Multiple571.774.2-87.0%
Shares Outstanding (Mil)8484-0.2%
Cumulative Contribution-40.2%

LTM = Last Twelve Months as of date shown

Market Drivers

6/30/2025 to 7/14/2026
ReturnCorrelation
GWRE-40.2% 
Market (SPY)22.7%13.9%
Sector (XLK)45.6%15.7%

Fundamental Drivers

The 85.0% change in GWRE stock from 6/30/2023 to 7/14/2026 was primarily driven by a 61.5% change in the company's Total Revenues ($ Mil).
(LTM values as of)63020237142026Change
Stock Price ($)76.08140.7185.0%
Change Contribution By: 
Total Revenues ($ Mil)8801,42161.5%
P/S Multiple7.18.317.9%
Shares Outstanding (Mil)8284-2.9%
Cumulative Contribution85.0%

LTM = Last Twelve Months as of date shown

Market Drivers

6/30/2023 to 7/14/2026
ReturnCorrelation
GWRE85.0% 
Market (SPY)75.6%31.7%
Sector (XLK)115.2%30.1%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
GWRE Return-12%-45%74%55%19%-30%9%
Peers Return12%-29%28%21%-1%-17%1%
S&P 500 Return27%-19%24%23%16%10%100%

Monthly Win Rates [3]
GWRE Win Rate50%25%75%67%50%57% 
Peers Win Rate58%33%54%58%58%29% 
S&P 500 Win Rate75%42%67%75%67%57% 

Max Drawdowns [4]
GWRE Max Drawdown-31%-54%-17%-19%-26%-49% 
Peers Max Drawdown-18%-37%-17%-11%-27%-30% 
S&P 500 Max Drawdown-5%-25%-10%-8%-19%-9% 


[1] Cumulative total returns since the beginning of 2021
[2] Peers: VRSK, SSNC. See GWRE Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 7/14/2026 (YTD)

How Low Can It Go

EventGWRES&P 500
2025 US Tariff Shock
  % Loss-21.8%-18.8%
  % Gain to Breakeven27.9%23.1%
  Time to Breakeven59 days79 days
2022 Inflation Shock & Fed Tightening
  % Loss-52.3%-24.5%
  % Gain to Breakeven109.5%32.4%
  Time to Breakeven462 days427 days
2020 COVID-19 Crash
  % Loss-39.7%-33.7%
  % Gain to Breakeven65.7%50.9%
  Time to Breakeven239 days140 days
Q4 2018 Fed Policy Error / Growth Scare
  % Loss-24.9%-19.2%
  % Gain to Breakeven33.2%23.8%
  Time to Breakeven100 days105 days
2016-2017 Trump Reflation Bond Selloff
  % Loss-17.9%-3.7%
  % Gain to Breakeven21.8%3.9%
  Time to Breakeven115 days6 days
2015-2016 China Devaluation / Global Growth Scare
  % Loss-26.4%-12.2%
  % Gain to Breakeven35.9%13.9%
  Time to Breakeven103 days62 days

Compare to VRSK, SSNC

In The Past

Guidewire Software's stock fell -21.8% during the 2025 US Tariff Shock. Such a loss loss requires a 27.9% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

EventGWRES&P 500
2025 US Tariff Shock
  % Loss-21.8%-18.8%
  % Gain to Breakeven27.9%23.1%
  Time to Breakeven59 days79 days
2022 Inflation Shock & Fed Tightening
  % Loss-52.3%-24.5%
  % Gain to Breakeven109.5%32.4%
  Time to Breakeven462 days427 days
2020 COVID-19 Crash
  % Loss-39.7%-33.7%
  % Gain to Breakeven65.7%50.9%
  Time to Breakeven239 days140 days
Q4 2018 Fed Policy Error / Growth Scare
  % Loss-24.9%-19.2%
  % Gain to Breakeven33.2%23.8%
  Time to Breakeven100 days105 days
2015-2016 China Devaluation / Global Growth Scare
  % Loss-26.4%-12.2%
  % Gain to Breakeven35.9%13.9%
  Time to Breakeven103 days62 days

Compare to VRSK, SSNC

In The Past

Guidewire Software's stock fell -21.8% during the 2025 US Tariff Shock. Such a loss loss requires a 27.9% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About Guidewire Software (GWRE)

Guidewire Software (GWRE) is a leading provider of software solutions specifically designed for the global property and casualty (P&C) insurance industry. The company enables insurers to manage their core operations more efficiently, from policy issuance and billing to claims processing. Its technology helps P&C insurers worldwide modernize their infrastructure, streamline workflows, and enhance their customer and agent experiences.

The company's primary offerings revolve around its "InsuranceSuite," a comprehensive platform that includes Guidewire PolicyCenter for underwriting and policy management, BillingCenter for billing and collections, and ClaimCenter for claims management. Guidewire also provides "InsuranceNow," a fully cloud-based platform consolidating policy, billing, and claims functionality, catering to insurers seeking an integrated cloud-native solution. These core products are available for both cloud deployment and self-managed environments.

Beyond its foundational suites, Guidewire offers a broad portfolio of specialized applications and services. These include digital engagement tools for various stakeholders, solutions for underwriting, rating, and reinsurance management, and customer data management. Additionally, the company provides advanced data and analytics products such as Predictive Analytics, Risk Insights, DataHub, and InfoCenter, which empower insurers to gain business intelligence, assess risks, and make data-driven decisions. Guidewire also supports its clients with implementation, integration, and professional services.

AI Analysis | Feedback

The SAP for property and casualty insurance companies.

The Workday for property and casualty insurance operations.

AI Analysis | Feedback

  • Guidewire InsuranceSuite: A comprehensive platform comprising PolicyCenter, BillingCenter, and ClaimCenter for core insurance operations.
  • Guidewire PolicyCenter: Manages the lifecycle of insurance policies.
  • Guidewire BillingCenter: Handles premium collection, invoicing, and other billing activities.
  • Guidewire ClaimCenter: Streamlines the processing and management of insurance claims.
  • Guidewire InsuranceNow: A cloud-based platform offering integrated policy, billing, and claims management functionality.
  • Guidewire Digital Engagement Applications: Software solutions enabling digital interactions for customers, agents, and vendors.
  • Guidewire Data & Analytics Solutions: Products like DataHub, InfoCenter, Predictive Analytics, and Risk Insights that provide data management, business intelligence, and advanced analytics for insurers.
  • Guidewire Underwriting & Rating Solutions: Software such as Rating Management and Underwriting Management to manage product pricing and streamline underwriting processes.
  • Guidewire Reinsurance Management: Tools to execute and manage reinsurance strategies through rules-based logic.
  • Professional Services: Services including implementation, integration, and ongoing support for Guidewire software products.

AI Analysis | Feedback

Guidewire Software (GWRE) sells its software products and services primarily to other companies.

Based on the provided company description, its major customers are property and casualty insurers worldwide.

The background information does not provide the specific names of these customer companies, nor their public symbols.

AI Analysis | Feedback

Amazon.com, Inc. (AMZN)

AI Analysis | Feedback

Mike Rosenbaum, Chief Executive Officer

Mike Rosenbaum joined Guidewire as Chief Executive Officer in 2019. Prior to Guidewire, he spent almost 14 years at Salesforce, where he held several leadership positions, including EVP Product and head of the Platform organization and AppExchange ecosystem, leading product management and go-to-market strategy for core CRM products. He previously served in the U.S. Navy as a submarine officer and has served on the board of directors of Docusign, Inc.

Jeff Cooper, Chief Financial Officer

As Chief Financial Officer, Jeff Cooper is responsible for Guidewire's financial operations. He previously served as Vice President of Finance at Guidewire, and prior to that, he was the Chief Financial Officer at GoodData and Vice President of Finance at Rally Software. Rally Software, a publicly traded, cloud-based application lifecycle management software company, was acquired by CA Technologies in 2015. He began his career as an investment banker focused on the software industry at Deutsche Bank Securities.

John Mullen, President

John Mullen leads Guidewire's Global Sales, Delivery Services, and Customer Success organizations, bringing over 25 years of experience in driving high-growth teams. Before Guidewire, he headed the $4B+ North America Business Unit at Capgemini and previously led the Capgemini Insurance Business Unit. He started his career at Accenture.

Winston King, Chief Administrative Officer and General Counsel

Winston King is responsible for Guidewire's worldwide administrative functions, including human resources, business technology, recruiting, legal, and corporate services, while also serving as the company's General Counsel and Secretary. Previously, he was EVP, General Counsel, and Secretary at Infogroup Inc., a marketing data, services, and research firm. He also worked at WilmerHale, an international law firm, focusing on corporate, M&A, and securities enforcement. King served as a clerk to Judge Bruce Selya on the U.S. First Circuit Court of Appeals.

Brigette McInnis-Day, Chief People Officer

Brigette McInnis-Day brings over 25 years of experience leading HR, operations, and organizational transformation. Her background includes roles at UiPath, Google Cloud, SAP, and Mercer. She holds a Master's degree in Industrial/Organizational Psychology.

AI Analysis | Feedback

The key risks to Guidewire Software's business include intense competition coupled with the critical need for successful cloud transition and continuous innovation, the inherent dependence on the health and evolving landscape of the property and casualty (P&C) insurance industry, and the complexities and high costs associated with implementing and migrating its solutions for customers.

Key Risks to Guidewire Software (GWRE)

  1. Intense Competition and Challenges in Cloud Transition and Innovation: Guidewire operates in a highly competitive market against both traditional legacy software vendors and emerging cloud-native InsurTech companies. The successful migration of its substantial on-premise customer base to its cloud platform, such as Guidewire Cloud Platform, is critical for sustained growth and market leadership. The company must continuously innovate, particularly by integrating advanced technologies like artificial intelligence (AI) and machine learning (ML) into its offerings, to meet evolving insurer demands and prevent its existing products from becoming obsolete. Failure to successfully execute this cloud transition and maintain a competitive edge through innovation could lead to market share loss and slower revenue growth.
  2. Dependence on the Health and Evolving Landscape of the Property & Casualty (P&C) Insurance Industry: Guidewire's business is almost exclusively tied to the P&C insurance sector. This industry is currently experiencing significant pressures from rising risk complexity, margin compression, and increasingly volatile loss patterns. Global economic uncertainties, such as inflation and geopolitical instability, can also lead to reduced technology spending by insurers, directly impacting Guidewire's revenue and profitability. Furthermore, evolving regulatory environments, including increased scrutiny on AI explainability in underwriting, and potential industry consolidation could further challenge demand for Guidewire's products and services.
  3. Complexity and Cost of Implementation and Migration for Customers: While Guidewire offers advanced software solutions, the implementation process for insurers, particularly the migration of complex historical data and existing systems to its cloud platforms, is often costly, time-consuming, and technically challenging. Insurers may face difficulties such as project delays, budget overruns, and resistance to organizational change during these transitions. These complexities and high costs of adoption for customers can impact customer satisfaction, lengthen sales cycles, and potentially hinder Guidewire's ability to onboard new clients and grow its recurring revenue base.

AI Analysis | Feedback

The clear emerging threat for Guidewire Software is the emergence of **AI-first, fully automated insurance operating platforms**. These next-generation platforms are being designed from the ground up to leverage advanced artificial intelligence and machine learning across the entire insurance lifecycle, including underwriting, policy administration, and claims processing, with minimal human intervention. Often built as cloud-native and API-driven solutions, they offer the potential for significantly lower operational costs, faster product innovation cycles, and superior real-time risk assessment and fraud detection capabilities compared to traditional core systems. While Guidewire is incorporating AI and cloud capabilities into its offerings, these emerging competitors represent a fundamental architectural and operational shift, potentially displacing the need for comprehensive, module-based enterprise suites like Guidewire's for insurers seeking maximum automation and data-driven intelligence.

AI Analysis | Feedback

Guidewire Software, Inc. (GWRE) primarily provides software products for property and casualty (P&C) insurers worldwide, including its core Guidewire InsuranceSuite (PolicyCenter, BillingCenter, and ClaimCenter) and Guidewire InsuranceNow platforms.

The global addressable market for property and casualty (P&C) insurance software is substantial. This market was valued at approximately $20.96 billion in 2025 and is projected to grow to $23.32 billion in 2026, demonstrating a compound annual growth rate (CAGR) of 11.3%. Forecasts indicate continued rapid growth, with the market expected to reach $34.75 billion by 2030, at a CAGR of 10.5%.

Another estimate places the global P&C insurance software market at $13.3 billion in 2024, with a projection to reach $17.9 billion by 2029, growing at a CAGR of 6.1%. Additionally, the global P&C insurance software market size was estimated at $12.01 billion in 2023 and is anticipated to grow to $27.75 billion by 2033, exhibiting a CAGR of 8.74% during the forecast period.

More broadly, the global insurance software market, which encompasses P&C, accident, and health insurance systems, was valued at $15.03 billion in 2026 and is projected to reach $20.41 billion by 2031, growing at a CAGR of 6.31%.

AI Analysis | Feedback

Here are 3-5 expected drivers of future revenue growth for Guidewire Software (GWRE) over the next 2-3 years:

1. Continued Cloud Adoption and Migration to Guidewire Cloud Platform: A primary driver of Guidewire's revenue growth is the ongoing transition of property and casualty insurers to its cloud-based solutions. The company is focused on migrating existing on-premise customers to Guidewire Cloud and acquiring new clients directly on the cloud platform. This shift is fueling significant increases in subscription and support revenues, and Guidewire is now operating fully as a SaaS provider.

2. Growing Demand for AI and Analytics Solutions: Guidewire is experiencing accelerated demand for its AI-driven solutions and analytics offerings. The integration of artificial intelligence is creating urgency for core system modernization among insurers and is helping to accelerate Guidewire's development and implementation velocity. The company has seen strong adoption of its data and analytics portfolio and recently launched AI-enabled solutions, such as ProNavigator, contributing to revenue expansion.

3. Acquisition of New Customers and Expansion within Existing Client Base through Larger, Longer-Duration Deals: Guidewire continues to secure significant new deals with both new and existing customers. These new signings are often larger in scale and come with longer durations, contributing to a substantial increase in Annual Recurring Revenue (ARR). The company's ability to drive revenue expansion within its current client base and win major insurers as new customers underscores this growth driver.

4. Monetization of New and Enhanced Products: The expansion and adoption of Guidewire's specialized product offerings, such as PricingCenter and other applications within its data and analytics portfolio, are expected to contribute to future revenue growth. These products enable insurers to manage specific aspects of their business more effectively, leading to opportunities for cross-selling and up-selling within Guidewire's customer base as they modernize and expand their lines of business.

AI Analysis | Feedback

Share Repurchases

  • Guidewire Software announced a new share repurchase program with authorization to purchase up to $500.0 million of its outstanding common stock, effective January 8, 2026.
  • The company completed its prior share repurchase program, authorized in September 2022, by utilizing the remaining $138.2 million under that authorization.
  • The latest value of Guidewire's stock repurchases for the last twelve months (LTM) as of November 24, 2025, was $214 million.

Share Issuance

  • In fiscal year 2025, proceeds from the issuance of common stock upon the exercise of stock options totaled $728 thousand.
  • For fiscal year 2024, the company received $1.041 million from the issuance of common stock due to the exercise of stock options.
  • In fiscal year 2023, proceeds from the issuance of common stock upon the exercise of stock options were $3.902 million.

Inbound Investments

  • As of October 31, 2025, Guidewire had $1,409.3 million in cash, cash equivalents, and investments.
  • Machina Capital S.A.S. acquired a new stake of 5,120 shares in Guidewire Software, valued at approximately $1.21 million, during the second quarter of fiscal year 2025.
  • Vanguard Group Inc. increased its holdings in Guidewire Software by 3.0% during the first quarter of fiscal year 2025, bringing its total to 8,711,604 shares worth $1.63 billion.

Outbound Investments

  • On October 28, 2025, Guidewire entered into a definitive agreement to acquire ProNav Technologies Ltd. (ProNavigator), an AI-powered knowledge management platform for the P&C insurance industry, with the acquisition expected to close in the second quarter of fiscal year 2026.
  • Guidewire has recently acquired Quanti, a Polish pricing software firm, and has made investments in AI tools such as Claims Intel.

Capital Expenditures

  • For fiscal year 2026, Guidewire's capital expenditures are projected to be between $25 million and $30 million.
  • Expected capitalized software development costs for fiscal year 2026 are $16 million.
  • Guidewire continuously invests in research and development, allocating over 25% of its revenue to innovation, primarily focusing on cloud-based solutions, data analytics, and digital capabilities.

Better Bets vs. Guidewire Software (GWRE)

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Peer Comparisons

Peers to compare with:

Financials

GWREVRSKSSNCMedian
NameGuidewir.Verisk A.SS&C Tec. 
Mkt Price140.71190.5466.79140.71
Mkt Cap11.925.716.116.1
Rev LTM1,4213,1026,4053,102
Op Inc LTM1171,3661,4771,366
FCF LTM3201,1271,4611,127
FCF 3Y Avg2369861,190986
CFO LTM3511,3821,7721,382
CFO 3Y Avg2591,2191,4641,219

Growth & Margins

GWREVRSKSSNCMedian
NameGuidewir.Verisk A.SS&C Tec. 
Rev Chg LTM24.9%5.9%7.5%7.5%
Rev Chg 3Y Avg17.5%7.4%6.2%7.4%
Rev Chg Q26.9%3.9%8.8%8.8%
QoQ Delta Rev Chg LTM5.9%1.0%2.1%2.1%
Op Inc Chg LTM437.8%7.0%7.9%7.9%
Op Inc Chg 3Y Avg215.3%8.2%9.3%9.3%
Op Mgn LTM8.2%44.0%23.1%23.1%
Op Mgn 3Y Avg1.4%43.2%22.9%22.9%
QoQ Delta Op Mgn LTM1.5%0.3%0.2%0.3%
CFO/Rev LTM24.7%44.5%27.7%27.7%
CFO/Rev 3Y Avg21.6%41.6%24.3%24.3%
FCF/Rev LTM22.5%36.3%22.8%22.8%
FCF/Rev 3Y Avg19.7%33.6%19.7%19.7%

Valuation

GWREVRSKSSNCMedian
NameGuidewir.Verisk A.SS&C Tec. 
Mkt Cap11.925.716.116.1
P/S8.38.32.58.3
P/Op Inc101.218.810.918.8
P/EBIT68.518.911.118.9
P/E74.228.319.928.3
P/CFO33.818.69.118.6
Total Yield1.3%4.5%6.6%4.5%
Dividend Yield0.0%1.0%1.6%1.0%
FCF Yield 3Y Avg1.9%3.1%6.8%3.1%
D/E0.10.20.50.2
Net D/E-0.00.20.40.2

Returns

GWREVRSKSSNCMedian
NameGuidewir.Verisk A.SS&C Tec. 
1M Rtn14.8%3.9%-1.3%3.9%
3M Rtn12.5%12.0%-4.2%12.0%
6M Rtn-21.6%-13.8%-20.6%-20.6%
12M Rtn-36.7%-37.1%-19.0%-36.7%
3Y Rtn78.4%-15.0%14.8%14.8%
1M Excs Rtn16.7%3.0%-3.4%3.0%
3M Excs Rtn3.8%4.3%-12.6%3.8%
6M Excs Rtn-32.3%-23.1%-31.0%-31.0%
12M Excs Rtn-56.6%-56.5%-38.4%-56.5%
3Y Excs Rtn13.1%-85.0%-54.4%-54.4%

Comparison Analyses

Financials

Segment Financials

Revenue by Segment
$ Mil20252024202320222021
Subscription667477352259169
Term license252249265258303
Services219181210210187
Support6472788484
Perpetual license01000
Total1,202980905813743


Price Behavior

Price Behavior
Market Price$140.71 
Market Cap ($ Bil)11.9 
First Trading Date01/25/2012 
Distance from 52W High-46.3% 
   50 Days200 Days
DMA Price$133.78$169.57
DMA Trenddowndown
Distance from DMA5.2%-17.0%
 3M1YR
Volatility71.1%53.0%
Downside Capture1.42101.66
Upside Capture50.0824.69
Correlation (SPY)11.2%14.1%
GWRE Betas & Captures as of 6/30/2026

 1M2M3M6M1Y3Y
Beta1.220.340.440.650.610.88
Up Beta-0.00-1.34-0.430.050.340.91
Down Beta2.842.641.950.890.700.85
Up Capture-22%-39%-1%11%12%71%
Bmk +ve Days11244067140429
Stock +ve Days7162854113385
Down Capture195%38%112%137%115%96%
Bmk -ve Days10172358112321
Stock -ve Days14253570137363

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with GWRE
GWRE-36.2%52.9%-0.67-
Sector ETF (XLK)44.3%24.4%1.4515.8%
Equity (SPY)21.7%12.6%1.2814.3%
Gold (GLD)20.5%27.9%0.659.0%
Commodities (DBC)27.3%18.9%1.149.0%
Real Estate (VNQ)13.0%13.9%0.643.5%
Bitcoin (BTCUSD)-47.0%42.7%-1.3714.5%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with GWRE
GWRE3.9%40.1%0.20-
Sector ETF (XLK)20.4%25.5%0.7144.2%
Equity (SPY)13.1%17.1%0.5944.1%
Gold (GLD)17.2%18.4%0.7611.2%
Commodities (DBC)8.6%19.5%0.338.8%
Real Estate (VNQ)2.7%18.9%0.0433.4%
Bitcoin (BTCUSD)12.8%53.4%0.4222.2%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with GWRE
GWRE8.4%36.0%0.32-
Sector ETF (XLK)25.1%24.8%0.9150.4%
Equity (SPY)15.4%17.9%0.7348.9%
Gold (GLD)11.2%16.1%0.577.9%
Commodities (DBC)6.3%18.0%0.2713.4%
Real Estate (VNQ)5.0%20.7%0.2135.1%
Bitcoin (BTCUSD)57.3%66.2%0.9716.0%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date6302026
Short Interest: Shares Quantity5.7 Mil
Short Interest: % Change Since 61520266.5%
Average Daily Volume2.4 Mil
Days-to-Cover Short Interest2.3 days
Basic Shares Quantity84.2 Mil
Short % of Basic Shares6.8%

Earnings Returns History

Updated 7/9/2026
Expand for More
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
6/4/2026-10.0%-21.6%-9.3%
3/5/20265.0%-2.0%-8.1%
12/3/2025-2.2%-7.0%-12.9%
9/4/202520.1%16.7%6.0%
6/3/202516.4%15.4%7.1%
3/6/2025-7.3%-5.9%-6.8%
12/5/2024-14.0%-15.9%-17.2%
9/5/202412.4%18.0%28.0%
...
SUMMARY STATS   
# Positive141111
# Negative101313
Median Positive5.0%8.9%8.0%
Median Negative-4.9%-5.9%-6.8%
Max Positive20.1%25.9%29.0%
Max Negative-14.4%-21.6%-17.2%
Collapse to Preview
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
6/4/2026-10.0%-21.6%-9.3%
3/5/20265.0%-2.0%-8.1%
12/3/2025-2.2%-7.0%-12.9%
9/4/202520.1%16.7%6.0%
6/3/202516.4%15.4%7.1%
3/6/2025-7.3%-5.9%-6.8%
12/5/2024-14.0%-15.9%-17.2%
9/5/202412.4%18.0%28.0%
6/4/202418.0%25.9%29.0%
3/7/20240.6%-2.1%-1.7%
12/7/2023-1.0%-1.5%8.0%
9/7/202311.0%7.3%7.8%
6/1/2023-14.4%-12.4%-9.2%
3/6/20235.1%1.2%13.7%
12/6/20226.8%14.6%11.8%
9/6/20220.3%0.7%-2.0%
6/7/20220.2%-11.4%-6.2%
3/8/20224.2%-2.1%6.9%
12/2/2021-5.1%-2.8%-3.3%
9/2/20213.9%3.1%-4.5%
6/2/20213.5%8.9%15.1%
3/4/2021-4.8%-1.0%-4.3%
12/8/2020-4.4%0.0%3.6%
9/2/2020-0.6%-8.0%-12.9%
SUMMARY STATS   
# Positive141111
# Negative101313
Median Positive5.0%8.9%8.0%
Median Negative-4.9%-5.9%-6.8%
Max Positive20.1%25.9%29.0%
Max Negative-14.4%-21.6%-17.2%

SEC Filings

Expand for More
Report DateFiling DateFiling
04/30/202606/05/202610-Q
01/31/202603/06/202610-Q
10/31/202512/04/202510-Q
07/31/202509/11/202510-K
04/30/202506/04/202510-Q
01/31/202503/07/202510-Q
10/31/202412/06/202410-Q
07/31/202409/16/202410-K
04/30/202406/05/202410-Q
01/31/202403/08/202410-Q
10/31/202312/08/202310-Q
07/31/202309/18/202310-K
04/30/202306/02/202310-Q
01/31/202303/07/202310-Q
10/31/202212/07/202210-Q
07/31/202209/26/202210-K
Collapse to Preview
Report DateFiling DateFiling
04/30/202606/05/202610-Q
01/31/202603/06/202610-Q
10/31/202512/04/202510-Q
07/31/202509/11/202510-K
04/30/202506/04/202510-Q
01/31/202503/07/202510-Q
10/31/202412/06/202410-Q
07/31/202409/16/202410-K
04/30/202406/05/202410-Q
01/31/202403/08/202410-Q
10/31/202312/08/202310-Q
07/31/202309/18/202310-K
04/30/202306/02/202310-Q
01/31/202303/07/202310-Q
10/31/202212/07/202210-Q
07/31/202209/26/202210-K
04/30/202206/08/202210-Q
01/31/202203/09/202210-Q
10/31/202112/03/202110-Q
07/31/202109/24/202110-K
04/30/202106/03/202110-Q
01/31/202103/05/202110-Q
10/31/202012/09/202010-Q
07/31/202009/28/202010-K
04/30/202006/04/202010-Q
01/31/202003/05/202010-Q
10/31/201912/06/201910-Q
07/31/201909/30/201910-K

Recent Forward Guidance

Updated 7/12/2026

Latest: Q3 2026 Earnings Reported 6/4/2026

Forward GuidanceGuidance Change
MetricLowMidHigh% Chg% DeltaChangePrior
Q4 2026 Ending ARR1.23 Bil1.23 Bil1.24 Bil7.5% Higher NewGuidance: 1.15 Bil for Q3 2026
Q4 2026 Subscription and support revenue259.00 Mil262.00 Mil265.00 Mil8.7% Higher NewGuidance: 241.00 Mil for Q3 2026
Q4 2026 Revenue396.00 Mil401.00 Mil406.00 Mil13.0% Higher NewGuidance: 355.00 Mil for Q3 2026
Q4 2026 GAAP operating income36.00 Mil41.00 Mil46.00 Mil192.9% Higher NewGuidance: 14.00 Mil for Q3 2026
Q4 2026 Non-GAAP operating income86.00 Mil91.00 Mil96.00 Mil46.8% Higher NewGuidance: 62.00 Mil for Q3 2026
2026 Ending ARR1.23 Bil1.23 Bil1.24 Bil0 AffirmedGuidance: 1.23 Bil for 2026
2026 Subscription and support revenue963.00 Mil966.00 Mil969.00 Mil0.2% RaisedGuidance: 964.00 Mil for 2026
2026 Revenue1.46 Bil1.47 Bil1.47 Bil1.5% RaisedGuidance: 1.44 Bil for 2026
2026 GAAP operating income124.00 Mil129.00 Mil134.00 Mil22.9% RaisedGuidance: 105.00 Mil for 2026
2026 Non-GAAP operating income314.00 Mil319.00 Mil324.00 Mil7.0% RaisedGuidance: 298.00 Mil for 2026
2026 Operating cash flow365.00 Mil372.50 Mil380.00 Mil1.4% RaisedGuidance: 367.50 Mil for 2026

Prior: Q2 2026 Earnings Reported 3/5/2026

Forward GuidanceGuidance Change
MetricLowMidHigh% Chg% DeltaChangePrior
Q3 2026 Ending ARR1.14 Bil1.15 Bil1.15 Bil   
Q3 2026 Subscription and support revenue239.00 Mil241.00 Mil243.00 Mil   
Q3 2026 Revenue352.00 Mil355.00 Mil358.00 Mil   
Q3 2026 GAAP operating income11.00 Mil14.00 Mil17.00 Mil   
Q3 2026 Non-GAAP operating income59.00 Mil62.00 Mil65.00 Mil   
2026 Ending ARR1.23 Bil1.23 Bil1.24 Bil0.7% RaisedGuidance: 1.23 Bil for 2026
2026 Subscription and support revenue962.00 Mil964.00 Mil966.00 Mil   
2026 Revenue1.44 Bil1.44 Bil1.45 Bil2.3% RaisedGuidance: 1.41 Bil for 2026
2026 GAAP operating income100.00 Mil105.00 Mil110.00 Mil31.2% RaisedGuidance: 80.00 Mil for 2026
2026 Non-GAAP operating income293.00 Mil298.00 Mil303.00 Mil8.8% RaisedGuidance: 274.00 Mil for 2026
2026 Operating cash flow360.00 Mil367.50 Mil375.00 Mil0.7% RaisedGuidance: 365.00 Mil for 2026

Q1 2026 Earnings Reported 12/3/2025

Forward GuidanceGuidance Change
MetricLowMidHigh% Chg% DeltaChangePrior
Q2 2026 Ending ARR1.11 Bil1.11 Bil1.11 Bil5.6% Higher NewGuidance: 1.05 Bil for Q1 2026
Q2 2026 Revenue339.00 Mil342.00 Mil345.00 Mil7.5% Higher NewGuidance: 318.00 Mil for Q1 2026
Q2 2026 GAAP Operating Income19.00 Mil22.00 Mil25.00 Mil450.0% Higher NewGuidance: 4.00 Mil for Q1 2026
Q2 2026 Non-GAAP Operating Income68.00 Mil71.00 Mil74.00 Mil42.0% Higher NewGuidance: 50.00 Mil for Q1 2026
2026 Ending ARR1.22 Bil1.23 Bil1.23 Bil0.8% RaisedGuidance: 1.22 Bil for 2026
2026 Revenue1.40 Bil1.41 Bil1.42 Bil1.1% RaisedGuidance: 1.40 Bil for 2026
2026 GAAP Operating Income72.00 Mil80.00 Mil88.00 Mil2.6% RaisedGuidance: 78.00 Mil for 2026
2026 Non-GAAP Operating Income266.00 Mil274.00 Mil282.00 Mil1.9% RaisedGuidance: 269.00 Mil for 2026
2026 Operating Cash Flow355.00 Mil365.00 Mil375.00 Mil1.4% RaisedGuidance: 360.00 Mil for 2026

Insider Activity

Updated 7/13/2026
Expand for More
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Rosenbaum, Michael GeorgeChief Executive OfficerDirectSell7132026138.471,200166,16426,998,327Form
2King, James WinstonChief Admin Officer, Gen CounsDirectSell7092026130.641,684219,9983,921,552Form
3Rosenbaum, Michael GeorgeChief Executive OfficerDirectSell7062026131.631,200157,95625,822,647Form
4Rosenbaum, Michael GeorgeChief Executive OfficerDirectSell6292026124.291,200149,14824,531,863Form
5Cooper, Jeffrey ElliottChief Financial OfficerDirectSell6222026105.671,348142,4436,564,115Form
Collapse to Preview
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Rosenbaum, Michael GeorgeChief Executive OfficerDirectSell7132026138.471,200166,16426,998,327Form
2King, James WinstonChief Admin Officer, Gen CounsDirectSell7092026130.641,684219,9983,921,552Form
3Rosenbaum, Michael GeorgeChief Executive OfficerDirectSell7062026131.631,200157,95625,822,647Form
4Rosenbaum, Michael GeorgeChief Executive OfficerDirectSell6292026124.291,200149,14824,531,863Form
5Cooper, Jeffrey ElliottChief Financial OfficerDirectSell6222026105.671,348142,4436,564,115Form
6Rosenbaum, Michael GeorgeChief Executive OfficerDirectSell6222026105.671,200126,80420,983,526Form
7Cooper, Jeffrey ElliottChief Financial OfficerDirectSell6162026118.742,594308,0197,536,262Form
8Rosenbaum, Michael GeorgeChief Executive OfficerDirectSell6162026118.745,830692,27223,722,002Form
9Peterson, David FranklinChief Accounting OfficerDirectSell6162026118.7424629,2111,458,995Form
10King, James WinstonChief Admin Officer, Gen CounsDirectSell6162026118.74999118,6243,764,391Form
11Mullen, John PPresidentDirectSell6162026118.744,292509,64515,568,988Form
12Rosenbaum, Michael GeorgeChief Executive OfficerDirectSell6162026123.851,200148,62025,464,303Form
13Rosenbaum, Michael GeorgeChief Executive OfficerDirectSell6082026135.621,200162,74428,047,030Form
14Rosenbaum, Michael GeorgeChief Executive OfficerDirectSell6022026158.921,200190,70433,056,314Form
15Rosenbaum, Michael GeorgeChief Executive OfficerDirectSell5262026138.511,200166,21228,977,123Form
16Rosenbaum, Michael GeorgeChief Executive OfficerDirectSell5182026128.191,200153,82826,971,945Form
17Rosenbaum, Michael GeorgeChief Executive OfficerDirectSell5122026136.381,200163,65628,858,826Form
18Rosenbaum, Michael GeorgeChief Executive OfficerDirectSell5052026141.911,200170,29230,199,299Form
19Rosenbaum, Michael GeorgeChief Executive OfficerDirectSell4272026138.091,200165,70829,552,089Form
20Rosenbaum, Michael GeorgeChief Executive OfficerDirectSell4202026139.751,200167,70030,075,038Form
21Rosenbaum, Michael GeorgeChief Executive OfficerDirectSell4132026118.771,200142,52425,702,541Form
22Rosenbaum, Michael GeorgeChief Executive OfficerDirectSell4062026151.141,200181,36832,888,971Form
23Rosenbaum, Michael GeorgeChief Executive OfficerDirectSell3312026145.741,200174,88831,888,786Form
24Rosenbaum, Michael GeorgeChief Executive OfficerDirectSell3242026155.561,200186,67234,224,133Form
25Rosenbaum, Michael GeorgeChief Executive OfficerDirectSell3182026163.864,737776,19536,246,351Form
26Mullen, John PPresidentDirectSell3182026163.866,5761,077,53022,187,507Form
27King, James WinstonChief Admin Officer, Gen CounsDirectSell3182026163.861,001164,0225,358,317Form
28Cooper, Jeffrey ElliottChief Financial OfficerDirectSell3182026163.861,935317,06510,824,617Form
29Peterson, David FranklinChief Accounting OfficerDirectSell3182026163.8627344,7332,053,631Form
30Rosenbaum, Michael GeorgeChief Executive OfficerDirectSell3172026160.001,200192,00036,150,880Form
31Cooper, Jeffrey ElliottChief Financial OfficerDirectSell3132026158.724,757755,03110,792,325Form
32Rosenbaum, Michael GeorgeChief Executive OfficerDirectSell3092026166.341,200199,60837,782,967Form
33Rosenbaum, Michael GeorgeChief Executive OfficerDirectSell3032026143.871,200172,64432,851,707Form
34Rosenbaum, Michael GeorgeChief Executive OfficerDirectSell2232026125.501,200150,60028,807,646Form
35Rosenbaum, Michael GeorgeChief Executive OfficerDirectSell2172026127.001,200152,40029,304,361Form
36Rosenbaum, Michael GeorgeChief Executive OfficerDirectSell2102026127.771,200153,32429,635,357Form
37Rosenbaum, Michael GeorgeChief Executive OfficerDirectSell2032026140.011,200168,01232,642,351Form
38Rosenbaum, Michael GeorgeChief Executive OfficerDirectSell1262026160.321,200192,38437,569,870Form
39Rosenbaum, Michael GeorgeChief Executive OfficerDirectSell1222026156.261,200187,51236,805,949Form
40Cooper, Jeffrey ElliottChief Financial OfficerDirectSell1152026180.8721639,06813,158,835Form
41Rosenbaum, Michael GeorgeChief Executive OfficerDirectSell1152026180.871,200217,04442,819,706Form
42Rosenbaum, Michael GeorgeChief Executive OfficerDirectSell12292025204.951,400286,93048,766,418Form
43Rosenbaum, Michael GeorgeChief Executive OfficerDirectSell12222025200.721,400281,00848,040,927Form
44King, James WinstonChief Admin Officer, Gen CounsDirectSell12182025195.001,860362,7006,571,890Form
45Cooper, Jeffrey ElliottChief Financial OfficerDirectSell12182025195.001,232240,24014,228,955Form
46King, James WinstonChief Admin Officer, Gen CounsDirectSell12182025192.081,457279,8556,830,610Form
47Cooper, Jeffrey ElliottChief Financial OfficerDirectSell12182025192.082,872551,64314,252,239Form
48Rosenbaum, Michael GeorgeChief Executive OfficerDirectSell12172025192.086,0151,155,33846,240,977Form
49Peterson, David FranklinChief Accounting OfficerDirectSell12172025192.0835868,7632,459,727Form
50Mullen, John PPresidentDirectSell12172025192.087,9751,531,80727,271,541Form
51Rosenbaum, Michael GeorgeChief Executive OfficerDirectSell12152025204.341,400286,07650,422,530Form
52Rosenbaum, Michael GeorgeChief Executive OfficerDirectSell12082025210.871,400295,21852,329,077Form
53Mullen, John PPresidentDirectSell12012025213.443,000640,32032,007,036Form
54Rosenbaum, Michael GeorgeChief Executive OfficerDirectSell12012025213.441,400298,81653,265,660Form
55Rosenbaum, Michael GeorgeChief Executive OfficerDirectSell11242025213.231,400298,52253,511,774Form
56Rosenbaum, Michael GeorgeChief Executive OfficerDirectSell11172025222.541,400311,55656,159,749Form
57King, James WinstonChief Admin Officer, Gen CounsDirectSell11172025222.54798177,5878,238,208Form
58Rosenbaum, Michael GeorgeChief Executive OfficerDirectSell11102025218.531,400305,94255,453,736Form
59Rosenbaum, Michael GeorgeChief Executive OfficerDirectSell11032025231.851,400324,59059,158,382Form
60Mullen, John PPresidentDirectSell11032025231.853,000695,55035,463,312Form
61Rosenbaum, Michael GeorgeChief Executive OfficerDirectSell10272025255.401,400357,56065,524,913Form
62Rosenbaum, Michael GeorgeChief Executive OfficerDirectSell10212025245.701,400343,98063,380,281Form
63King, James WinstonChief Admin Officer, Gen CounsDirectSell10212025245.70798196,0699,291,637Form
64Rosenbaum, Michael GeorgeChief Executive OfficerDirectSell10142025239.711,400335,59462,170,706Form
65Rosenbaum, Michael GeorgeChief Executive OfficerDirectSell10062025230.081,400322,11259,995,201Form
66Mullen, John PPresidentDirectSell10012025230.733,000692,19035,984,189Form
67Bauer, David S DirectSell10012025230.73500115,3651,361,999Form
68Rosenbaum, Michael GeorgeChief Executive OfficerDirectSell9292025232.251,400325,15060,886,196Form
69Rosenbaum, Michael GeorgeChief Executive OfficerDirectSell9222025244.551,400342,37064,453,109Form
70Cooper, Jeffrey ElliottChief Financial OfficerDirectSell9222025248.767,5351,874,37719,181,832Form
71King, James WinstonChief Admin Officer, Gen CounsDirectSell9222025248.827,1621,782,0599,608,241Form
72Peterson, David FranklinChief Accounting OfficerDirectSell9222025249.861,000249,8603,289,157Form
73King, James WinstonChief Admin Officer, Gen CounsDirectSell9172025242.877,1491,736,25611,117,723Form
74Peterson, David FranklinChief Accounting OfficerDirectSell9172025242.871,811439,8333,439,975Form
75Mullen, John PPresidentDirectSell9172025242.8715,8693,854,05538,605,637Form
76Cooper, Jeffrey ElliottChief Financial OfficerDirectSell9172025242.8714,1033,425,15020,557,703Form
77Rosenbaum, Michael GeorgeChief Executive OfficerDirectSell9172025242.8730,3177,362,96564,349,263Form
78Rosenbaum, Michael GeorgeChief Executive OfficerDirectSell9152025252.831,400353,96263,062,376Form
79Rosenbaum, Michael GeorgeChief Executive OfficerDirectSell9092025261.281,400365,79257,969,671Form
80Mullen, John PPresidentDirectSell9022025214.303,000642,90030,106,793Form
81Rosenbaum, Michael GeorgeChief Executive OfficerDirectSell9022025214.301,400300,02047,846,332Form
82Rosenbaum, Michael GeorgeChief Executive OfficerDirectSell8252025214.701,400300,58048,236,220Form
83King, James WinstonChief Admin Officer, Gen CounsDirectSell8182025211.61799169,0767,753,814Form
84Rosenbaum, Michael GeorgeChief Executive OfficerDirectSell8182025211.611,400296,25447,838,249Form
85Rosenbaum, Michael GeorgeChief Executive OfficerDirectSell8112025212.441,400297,41648,323,302Form
86Rosenbaum, Michael GeorgeChief Executive OfficerDirectSell8042025225.041,400315,05651,504,455Form
87Mullen, John PPresidentDirectSell8042025223.283,000669,84032,038,224Form
88Rosenbaum, Michael GeorgeChief Executive OfficerDirectSell7282025223.751,400313,25051,522,465Form
89Rosenbaum, Michael GeorgeChief Executive OfficerDirectSell7212025222.311,400311,23451,502,113Form
90Rosenbaum, Michael GeorgeChief Executive OfficerDirectSell7152025220.651,400308,91051,426,454Form
91King, James WinstonChief Admin Officer, Gen CounsDirectSell7152025220.652,482547,6538,261,357Form
92Rosenbaum, Michael GeorgeChief Executive OfficerDirectSell7072025230.701,400322,98054,091,768Form
93Mullen, John PPresidentDirectSell7022025235.053,000705,15034,432,239Form
94Bauer, David S DirectSell7022025235.05500117,5251,505,025Form
95Rosenbaum, Michael GeorgeChief Executive OfficerDirectSell6302025236.891,400331,64655,874,771Form

Investor Activity (13F)

Updated Jul 15, 2026
13F holdings as of Mar 31, 2026 (Q1 2026)

Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank and community-bank filers are excluded.

Active ManagerValue% of PortfolioTotal PositionsQoQFiling
Linonia Partnership LP$1.1 Bil21.3%14ADD +42.7%13F
Greenstone Partners & Co., LLC$60.5 Mil15.3%9ADD +117.4%13F
Darsana Capital Partners LP$598.2 Mil12.7%14ADD +60.0%13F
Route One Investment Company, L.P.$276.6 Mil12.1%18ADD +10.7%13F
Gavilan Investment Partners LLC$22.4 Mil6.0%14ADD +30.0%13F
Hudson Way Capital Management LLC$62.2 Mil5.9%16ADD +33.3%13F
Soma Equity Partners LP$57.6 Mil4.3%20New13F
Makena Capital Management LLC$30.0 Mil3.5%27ADD +44.0%13F
Silverback Asset Management LLC$12.5 Mil2.5%45New13F
Shannon River Fund Management LLC$9.4 Mil1.8%28TRIM -50.1%13F
Cypress Point Investment Management LP$7.3 Mil1.7%32New13F
Night Owl Capital Management, LLC$12.2 Mil1.4%30Hold13F
M.D. Sass, LLC$8.3 Mil0.6%36ADD +71.5%13F
Stockbridge Partners LLC$20.4 Mil0.5%16TRIM -90.6%13F
Active ManagerValue% of PortfolioTotal PositionsQoQFiling
Soma Equity Partners LP$57.6 Mil4.3%20New13F
Silverback Asset Management LLC$12.5 Mil2.5%45New13F
Cypress Point Investment Management LP$7.3 Mil1.7%32New13F
Greenstone Partners & Co., LLC$60.5 Mil15.3%9ADD +117.4%13F
M.D. Sass, LLC$8.3 Mil0.6%36ADD +71.5%13F
Darsana Capital Partners LP$598.2 Mil12.7%14ADD +60.0%13F
Makena Capital Management LLC$30.0 Mil3.5%27ADD +44.0%13F
Linonia Partnership LP$1.1 Bil21.3%14ADD +42.7%13F
Hudson Way Capital Management LLC$62.2 Mil5.9%16ADD +33.3%13F
Gavilan Investment Partners LLC$22.4 Mil6.0%14ADD +30.0%13F
Route One Investment Company, L.P.$276.6 Mil12.1%18ADD +10.7%13F
Active ManagerValue% of PortfolioTotal PositionsQoQAs OfFiling
SurgoCap Partners LP$144.6 Mil4.0%17ExitedDec 31, 202513F
RGM Capital, LLC$73.9 Mil3.6%17ExitedDec 31, 202513F
Stockbridge Partners LLC$20.4 Mil0.5%16TRIM -90.6%Mar 31, 202613F
Shannon River Fund Management LLC$9.4 Mil1.8%28TRIM -50.1%Mar 31, 202613F
Active ManagerValue% of PortfolioTotal PositionsQoQFiling
Linonia Partnership LP$1.1 Bil21.3%14ADD +42.7%13F
Darsana Capital Partners LP$598.2 Mil12.7%14ADD +60.0%13F
Route One Investment Company, L.P.$276.6 Mil12.1%18ADD +10.7%13F
Hudson Way Capital Management LLC$62.2 Mil5.9%16ADD +33.3%13F
Greenstone Partners & Co., LLC$60.5 Mil15.3%9ADD +117.4%13F
Soma Equity Partners LP$57.6 Mil4.3%20New13F
Makena Capital Management LLC$30.0 Mil3.5%27ADD +44.0%13F
Gavilan Investment Partners LLC$22.4 Mil6.0%14ADD +30.0%13F
Stockbridge Partners LLC$20.4 Mil0.5%16TRIM -90.6%13F
Silverback Asset Management LLC$12.5 Mil2.5%45New13F
Night Owl Capital Management, LLC$12.2 Mil1.4%30Hold13F
Shannon River Fund Management LLC$9.4 Mil1.8%28TRIM -50.1%13F
M.D. Sass, LLC$8.3 Mil0.6%36ADD +71.5%13F
Cypress Point Investment Management LP$7.3 Mil1.7%32New13F
Core Cache Last Updated: 7/14/2026