Shares of Gartner, Inc. (IT, Financial), a provider of syndicated research, detracted from performance. Although forward-looking metrics in Gartner’s traditional IT research business decelerated modestly, they remain at a robust low-teens rate. The company discontinued several non-subscription products that are not core to its long-term strategy, but which will hurt profitability this year. Finally, the company was more successful than expected in filling sales positions, which will penalize earnings this year but drive faster revenue growth in 2020.
From Ron Baron (Trades, Portfolio)'s Baron Growth Fund third-quarter 2019 shareholder letter.
