Should You Hold Gartner (IT) for the Long-Term Advantage?

Madison Investments, an investment advisor, released its “Madison Mid Cap Fund” first quarter 2023 investor letter. A copy of the same can be downloaded here. In the first quarter, the fund was up 5.3% compared to a 4.1% return for the Russell Midcap Index benchmark.  In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.

Madison Mid Cap Fund highlighted stocks like Gartner, Inc. (NYSE:IT) in the first quarter 2023 investor letter. Headquartered in Stamford, Connecticut, Gartner, Inc. (NYSE:IT) is a research and advisory company. On April 17, 2023, Gartner, Inc. (NYSE:IT) stock closed at $319.57 per share. One-month return of Gartner, Inc. (NYSE:IT) was 1.75%, and its shares gained 4.32% of their value over the last 52 weeks. Gartner, Inc. (NYSE:IT) has a market capitalization of $25.265 billion.

Madison Mid Cap Fund made the following comment about Gartner, Inc. (NYSE:IT) in its Q1 2023 investor letter:

“The bottom five contributors for the quarter were Ross Stores, W.R. Berkley, Gartner, Inc. (NYSE:IT), Glacier Bancorp, and Carlisle. Demand for Gartner products remains strong, and while it is early, 2023 looks like it will be a second consecutive year of double-digit revenue growth. Profits margins, however, have expanded by several points in the past couple of years, and some normalization (i.e. decline) is likely over the next year or two. We are keeping our eye on the long-term, though, and are optimistic about earning power in future years.”

Source: unsplash

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 TimesSquare U.S. Mid Cap Growth Strategy’s views on the company. In addition, please check out our hedge fund investor letters Q1 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.