Baron Funds Believes in the Growth Potential of Gartner (IT)

Baron Funds, an asset management company, released its “Baron Asset Fund” investor letter. You can download a copy of the same here. In the second quarter, the fund fell 21.09%. However, the firm believes that the fund is positioned to perform well in the current market concerns of recession and inflation. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.

In the second quarter investor letter, Baron Funds discussed stocks like Gartner, Inc. (NYSE:IT). Headquartered in Stamford, Connecticut, Gartner, Inc. (NYSE:IT) is a research and advisory company. On August 29, 2022, Gartner, Inc. (NYSE:IT) stock closed at $290.90 per share. One-month return of Gartner, Inc. (NYSE:IT) was 0.42% and its shares lost 5.78% of their value over the last 52 weeks. Gartner, Inc. (NYSE:IT) has a market capitalization of $23.008 billion.

Here is what Baron Funds specifically said about Gartner, Inc. (NYSE:IT):

“Shares of Gartner, Inc. (NYSE:IT), which sells syndicated research to corporations largely through annual subscription contracts, detracted from performance as investors contemplated the impact of a potential recession on its future growth trends. We believe that the company’s business conditions remain strong, as Gartner’s research business compounded at double-digit levels during its most recent quarter. Gartner has demonstrated an ongoing ability to raise its prices, even during challenging economic environments.

We expect sustained revenue growth and renewed focus on cost control to drive margin expansion and enhanced free-cash-flow generation. The company’s balance sheet remains in excellent shape and can support repurchases and bolt-on acquisitions.”

Gartner, Inc. (NYSE:IT) is not on the list of 30 Most Popular Stocks Among Hedge Funds. Gartner, Inc. (NYSE:IT) was held by 38 hedge fund portfolios at the end of the second quarter compared to 35 in the previous quarter.

We discussed Gartner, Inc. (NYSE:IT) in another article and shared Weitz Investment Management’s views on the company. You can check out our hedge fund investor letters Q2 2022 page for more investor letters from hedge funds and other prominent investors.

Disclosure: None. This article is originally published at Insider Monkey.