Is Gartner (IT) a Smart Long-Term Buy?

Weitz Investment Management, an investment management firm, published its “Weitz Investment Management Partners Value Fund” first quarter 2022 investor letter – a copy of which can be downloaded here. The Partners Value Fund’s Institutional Class returned -8.68% for the first quarter compared to -4.60% for the S&P 500 and -5.28% for the Russell 3000. For the fiscal year ended March 31, 2022, the Fund’s Institutional Class returned +4.35% compared to +15.65% for the S&P 500 and +11.92% for the Russell 3000. Try to spend some time taking a look at the fund’s top 5 holdings to be informed about their best picks for 2022.

In its Q1 2022 investor letter, Weitz Investment Management Partners Value Fund mentioned Gartner, Inc. (NYSE:IT) and explained its insights for the company. Founded in 1979, Gartner, Inc. (NYSE:IT) is a Stamford, Connecticut-based technological research and consulting firm with a $20.2 billion market capitalization. Gartner, Inc. (NYSE:IT) delivered a -24.84% return since the beginning of the year, while its 12-month returns are up by 3.86%. The stock closed at $251.29 per share on June 24, 2022.

Here is what Weitz Investment Management Partners Value Fund has to say about Gartner, Inc. (NYSE:IT)  in its Q1 2022 investor letter:

“We added a new position in Gartner (NYSE:IT) as tech-adjacent stocks continued their fall from grace during the quarter. Gartner is the leading provider of subscription-based research services to IT and business professionals (think C-suite executives, among others). The company has an attractive “create once, sell many times” business model that should sound familiar to long-time Fund investors. While Gartner does not scream “cheap” on current earnings, we are drawn to the company’s durability, business momentum, and extended glide path of capital-light, double-digit revenue, and cash flow growth potential.”

Our calculations show that Gartner, Inc. (NYSE:IT) fell short and didn’t make it on our list of the 30 Most Popular Stocks Among Hedge Funds. Gartner, Inc. (NYSE:IT) was in 35 hedge fund portfolios at the end of the first quarter of 2022, compared to 36 funds in the previous quarter. Gartner, Inc. (NYSE:IT) delivered a -14.94% return in the past 3 months.

In January 2022, we also shared another hedge fund’s views on Gartner, Inc. (NYSE:IT) in another article. You can find other investor letters from hedge funds and prominent investors on our hedge fund investor letters 2022 Q1 page.

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