Should You Hold Gartner (IT)?

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 returned 4.18% (net), compared to 6.90% for the Russell Midcap Growth Index. For the calendar year, the strategy returned -22.13% (net) compared to the benchmark’s return of -26.72%. Weakness in Consumer Staples, Energy, Health Care, Information Technology, and Real Estate holdings led to the underperformance of the portfolio in the quarter. In addition, please check the fund’s top five holdings to know its best picks in 2022.

TimesSquare U.S. Mid Cap Growth Strategy highlighted stocks like Gartner, Inc. (NYSE:IT) in its Q4 2022 investor letter. Headquartered in Stamford, Connecticut, Gartner, Inc. (NYSE:IT) is a research and advisory company. On March 30, 2023, Gartner, Inc. (NYSE:IT) stock closed at $319.70 per share. One-month return of Gartner, Inc. (NYSE:IT) was -4.23%, and its shares gained 6.76% of their value over the last 52 weeks. Gartner, Inc. (NYSE:IT) has a market capitalization of $25.567 billion.

TimesSquare U.S. Mid Cap Growth Strategy made the following comment about Gartner, Inc. (NYSE:IT) in its Q4 2022 investor letter:

“Research and advisory company Gartner, Inc. (NYSE:IT) experienced a 21% share price appreciation after outpacing earnings estimates by a substantial amount. This was driven by the combination of better revenues with lighter operating expenses. Looking across their segments, Research and Consulting were strong, while its Conferences business experienced a highly successful return to in-person events.”

Research, Investment, Finance

Research, Investment, Finance

Gartner, Inc. (NYSE:IT) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 44 hedge fund portfolios held Gartner, Inc. (NYSE:IT) at the end of the fourth quarter which was 43 in the previous quarter.

We discussed Gartner, Inc. (NYSE:IT) in another article and shared Baron Asset Fund’s views on the company. In addition, please check out our hedge fund investor letters Q4 2022 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.