Gartner (IT) Stock Rose in Q3 on Management Guidance

Conestoga Capital Advisors, an asset management company, released its “Conestoga Mid Cap Growth Fund” third-quarter investor letter. A copy of the same can be downloaded here. In the third quarter, the Mid Cap composite returned -4.84% net of fees compared to a -0.65% return for the Russell Mid Cap Growth Index. Negative stock selection and allocation effects led to the fund’s underperformance in the quarter. In addition, please check the fund’s top five holdings to know its best picks in 2022.

Conestoga Capital Advisors highlighted stocks like Gartner, Inc. (NYSE:IT) in the Q3 2022 investor letter. Headquartered in Stamford, Connecticut, Gartner, Inc. (NYSE:IT) is a research and advisory company. On December 16, 2022, Gartner, Inc. (NYSE:IT) stock closed at $338.17 per share. One-month return of Gartner, Inc. (NYSE:IT) was -0.03%, and its shares gained 9.54% of their value over the last 52 weeks. Gartner, Inc. (NYSE:IT) has a market capitalization of $26.724 billion.

Conestoga Capital Advisors made the following comment about Gartner, Inc. (NYSE:IT) in its Q3 2022 investor letter:

“Gartner, Inc. (NYSE:IT): IT is a research and advisory company, which equips business leaders with insights, advice, and tools to improve their businesses. The company posted another strong quarter, beating across revenue, adjusted EBITDA, and EPS. Revenue upside was broad-based across all segments. Management also raised 2022 guidance for all three metrics. The increased guidance reflects strong second quarter performance, continued sales momentum, and better -than-anticipated demand for in-person events coupled with solid expense management.”

Rawpixel.com/Shutterstock.com

Gartner, Inc. (NYSE:IT) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 43 hedge fund portfolios held Gartner, Inc. (NYSE:IT) at the end of the third quarter, which was 38 in the previous quarter.

We discussed Gartner, Inc. (NYSE:IT) in another article and shared Baron Funds’ views on the company. In addition, please check out our hedge fund investor letters Q3 2022 page for more investor letters from hedge funds and other leading investors.

Suggested Articles:

• 10 Cheap Small Cap Stocks To Buy
• 10 Best German Dividend Stocks To Buy
• 10 Best Performing Growth ETFs in 2022

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