Strong Fundamental Performance Drove Gartner’s (IT) Outperformance in Q4

Aristotle Capital Boston, LLC, an investment advisor, released its “Small/Mid Cap Equity Strategy” fourth quarter 2023 investor letter. A copy of the same can be downloaded here. In the fourth quarter, the fund delivered a return of 9.52% net of fees (9.67% gross of fees) trailing the Russell 2500 Index’s 13.35% total return. Both security selection and allocation effects drove the underperformance of the strategy in the quarter. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.

Aristotle Small/Mid Cap Equity Strategy 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 16, 2024, Gartner, Inc. (NYSE:IT) stock closed at $453.10 per share. One-month return of Gartner, Inc. (NYSE:IT) was 0.76%, and its shares gained 34.86% of their value over the last 52 weeks. Gartner, Inc. (NYSE:IT) has a market capitalization of $35.704 billion.

Aristotle Small/Mid Cap Equity Strategy stated the following regarding Gartner, Inc. (NYSE:IT) in its fourth quarter 2023 investor letter:

“Gartner, Inc. (NYSE:IT), a global research and advisory firm, helping senior executives in IT, Finance, HR, and other areas make better business decisions, appreciated after delivering strong fundamental performance within the company’s Research and Consulting departments along with continued cost discipline driving favorable margin performance. We continue to maintain a position given the company’s subscription-based, highly cash generative business model and our expectations for continued underlying demand for the company’s IT Research and Consulting as they support their client’s mission-critical priorities.”

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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 Madison Mid Cap Fund’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.