Gartner, Inc.

(New York Stock Exchange)
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Slightly Bearish -20

Is Gartner Inc (IT) A Good Stock To Buy?

AI-generated analysis

πŸ“‰ Hedge fund sentiment toward Gartner Inc (NYSE: IT) has deteriorated significantly, with bullish positions falling by 29% in the first quarter compared to the prior period.

πŸ“Š Select Equity Group remains the largest institutional holder with a $639 million position, representing 4.3% of its total 13F portfolio.

πŸ“‰ Major bearish moves were recorded as Balyasny Asset Management sold off $17.6 million and Lunia Capital reduced holdings by $16.6 million last quarter.

πŸ“ˆ Despite lower popularity among hedge funds compared to peers like Wayfair, Gartner Inc (NYSE: IT) delivered a 5.7% return in Q2, outperforming the S&P 500.

πŸ” The stock currently holds only 15 bullish hedge fund positions, placing it below the average of 37.25 bullish positions held for similar market valuation stocks.

Bullish Signals
  • Gartner Inc (NYSE: IT) outperformed the S&P 500 ETF by nearly 3 percentage points in Q2 through mid-June, delivering a 5.7% return during that period.
  • Select Equity Group maintains a significant bullish conviction with a $639 million position, allocating 4.3% of its portfolio to the company.
Risk Factors
  • Hedge fund support for Gartner Inc (NYSE: IT) has declined sharply, with the number of bullish funds dropping from 21 a year ago to just 15 in the first quarter.
  • Total hedge fund interest decreased by 6 funds last quarter as major managers like Balyasny Asset Management and Lunia Capital dumped substantial stakes totaling over $34 million.
Full Analysis
Gartner Inc (NYSE: IT) has seen a notable decline in support from elite hedge funds, with the number of bullish positions dropping by 29% in the first quarter compared to the previous period. At the end of Q1, only 15 hedge funds tracked by Insider Monkey held bullish positions in the stock, down from 21 a year prior, indicating a significant shift in institutional sentiment away from the enterprise software giant. Despite the waning interest from the broader hedge fund community, specific major investors maintain substantial stakes. Select Equity Group holds the largest position with $639 million (4.3% of its portfolio), followed by Bares Capital Management with $358.6 million. However, significant bearish activity was observed as Balyasny Asset Management dumped a $17.6 million stake and Lunia Capital reduced its position by $16.6 million, contributing to a net decrease in total hedge fund interest. In terms of performance, Gartner Inc (NYSE: IT) has outperformed the broader market during the specific period analyzed. While a group of comparable stocks including Wayfair and WellCare averaged a 6.2% return in Q2 through mid-June, Gartner returned 5.7%. This performance allowed the stock to beat the S&P 500 ETF (SPY) by nearly 3 percentage points during that timeframe, even as hedge fund popularity for IT remained lower than its peers.