Here’s Why Gartner (IT) Rose 31% in Q4

TimesSquare Capital Management, an equity investment management company, released its “U.S. Mid Cap Growth Strategy” fourth-quarter investor letter. A copy of the same can be downloaded here. In the fourth quarter, the strategy underperformed the Russell Midcap Growth Index and returned 13.66% (gross) and 13.44% (net) while the index return was -14.55%. In addition, please check the fund’s top five holdings to know its best picks in 2023.

TimesSquare Capital U.S. Mid Cap Growth Strategy featured stocks like Gartner, Inc. (NYSE:IT) in the fourth quarter 2023 investor letter. Headquartered in Stamford, Connecticut, Gartner, Inc. (NYSE:IT) is a research and advisory company. On March 28, 2024, Gartner, Inc. (NYSE:IT) stock closed at $476.67 per share. One-month return of Gartner, Inc. (NYSE:IT) was 2.39%, and its shares gained 49.10% of their value over the last 52 weeks. Gartner, Inc. (NYSE:IT) has a market capitalization of $37.165 billion.

TimesSquare Capital U.S. Mid Cap Growth Strategy stated the following regarding Gartner, Inc. (NYSE:IT) in its fourth quarter 2023 investor letter:

“Gartner, Inc. (NYSE:IT) offers information technology research and advisory services. The company outpaced estimates in the latest quarter, raised forward guidance, and that led to a 31% upside to its stock price. The key contract value metric was up nicely and surpassed expectations. We trimmed the position on this strength.”

A businessperson using modern technology to analyze and research airline performance.

Gartner, Inc. (NYSE:IT) is not on our list of 30 Most Popular Stocks Among Hedge Funds. At the end of the fourth quarter, Gartner, Inc. (NYSE:IT) was held by 41 hedge fund portfolios, compared to 36 in the previous quarter, according to our database.

We discussed Gartner, Inc. (NYSE:IT) in another article and shared Conestoga Capital Advisors SMid Cap Strategy’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.