Gartner, Inc. (IT
) is the leading independent provider of research and analysis on the information technology (IT
) industry, generating most of its revenues from annual subscriptions to its analysts' research commentary. Its shares performed well, as Gartner delivered solid financial results among uneven global end markets. The company generated record new bookings in its research business, with the contract value of its subscription revenues increasing 14%. We expect the company to maintain its sales momentum through 2013 and beyond as it grows its sales force, raises prices, and expands its efforts to services for Chief Marketing Officers, who are rapidly becoming an important constituent in setting and executing corporate IT strategy.
From Baron Funds' first quarter 2013 letter.