Should You Be Confident in the Long-Run Growth Potential of Gartner (IT)?

Madison Investments, an investment advisor, released its “Madison Mid Cap Fund” fourth-quarter 2023 investor letter. A copy of the same can be downloaded here. In the fourth quarter, the fund (Class Y) returned 14.3% compared to a 12.8% return for the Russell Midcap Index. The fund returned 26.5% for the full year compared to 17.2% for the index. In addition, please check the fund’s top five holdings to know its best picks in 2023.

Madison Mid Cap Fund featured stocks such as 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 January 12, 2024, Gartner, Inc. (NYSE:IT) stock closed at $454.21 per share. One-month return of Gartner, Inc. (NYSE:IT) was 1.01%, and its shares gained 35.19% of their value over the last 52 weeks. Gartner, Inc. (NYSE:IT) has a market capitalization of $35.792 billion.

Madison Mid Cap Fund stated the following regarding Gartner, Inc. (NYSE:IT) in its fourth quarter 2023 investor letter:

“The top five contributors for the quarter were Gartner, Inc. (NYSE:IT), Dollar Tree, Arista Networks, Glacier Bancorp, and Ross Stores. Gartner, a leading technology research and advisory firm, has been weathering the slowdown in technology spending quite well. Last quarter’s results showed hints that sales growth could begin to inflect higher, which excited investors. While the exact timing of this inflection is difficult to determine, we’re reassured by the stickiness of Gartner’s research product and confident in the long-run growth potential.”

A financial trader standing in front of a crowded wall of stock ticker monitors for analysis and research.

Gartner, Inc. (NYSE:IT) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 36 hedge fund portfolios held Gartner, Inc. (NYSE:IT) at the end of third quarter which was 45 in the previous quarter.

We discussed Gartner, Inc. (NYSE:IT) in another article and shared Baron Asset Fund’s views on the company in the previous quarter. 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.