Core Insights - India's information technology (IT) spending is expected to reach $176.3 billion by 2026, reflecting a growth of 10.6% from 2025, surpassing the global growth rate of 9.8% [1][3] IT Spending Growth - For 2025, India's IT spending is projected to grow by 11.2%, reaching $160 billion [3] - The data centre segment is anticipated to have the highest annual growth rate, increasing by 20.5% in 2026, although this is a moderation from 29.2% in 2025 [4][5] Drivers of Growth - The growth is driven by increased investments in data centres and software, as enterprises accelerate their adoption of Cloud and digital technologies [5] - Rising demand for artificial intelligence (AI) infrastructure is expected to stimulate new investments in data centres [6] - Data localisation norms are also contributing to the growth, with major players in the data centre segment expanding their operations [7] Key Players and Market Dynamics - The entry of significant players like Reliance and the Adani group is propelling India's data centre growth [8] - India is recognized as having one of the largest consumer bases for AI services globally, attracting international investments in local infrastructure [8] Software and IT Services Growth - Software spending in India is projected to increase by 17.6% in 2026, reaching $24.7 billion, driven by investments in AI-enabled software solutions [8][9] - IT services spending is forecasted to grow by 11.1% in 2026, with double-digit growth expected in the coming years, averaging between 12% and 14% [11] - The growth momentum is supported by strong enterprise investments in infrastructure as a service (IaaS), consulting, and application modernization [12]

Core Insights - Cayosoft Guardian as a service enhances hybrid Microsoft identity protection, enabling enterprises to detect, respond, and recover from threats instantly, regardless of their operational location [1][2] - The service addresses the increasing risks associated with hybrid management complexity, misconfigurations, and cyber attacks, ensuring operational continuity through continuous monitoring and automated alerts [2][4] Cayosoft Guardian SaaS Capabilities - The service offers continuous hybrid change monitoring, providing real-time visibility of security drift and a full audit trail across various Microsoft platforms [6] - Features include one-click rollback and automated remediation to reverse changes quickly, fully managed SaaS delivery with no infrastructure overhead, and audit-ready reporting for compliance with regulations like SOX, HIPAA, and GDPR [6] - Zero-trust enforcement is implemented through role-based access controls to ensure that privileged changes are authorized and verified [6] Market Performance and Recognition - Cayosoft has experienced triple-digit revenue growth in FY24 and 60% year-over-year growth in FY25, indicating strong demand for hybrid identity continuity solutions [4] - The company has been recognized as a Representative Vendor in six Gartner reports over the past year, with high customer ratings for integration, deployment, product capabilities, and support [4][5] Customer Feedback - Customers have praised Cayosoft for its comprehensive Microsoft 365 management, scalability, and operational efficiency, with an average customer retention rate of 99% over the past three years [9] - Positive feedback highlights the product's user-friendly interface and effective alerting systems [5][7] Availability and Future Developments - Cayosoft Guardian SaaS is set to be generally available in Q1 2026, while the company will continue to support on-premises versions of its products [7] - Live demonstrations of the service will be available at Microsoft Ignite 2025, showcasing hybrid identity monitoring and instant rollback capabilities [8]

Group 1 - Nearly two-thirds of marketers believe advancements in artificial intelligence will dramatically reshape their roles within the next two years, but many struggle to tie the technology to results [1][2] - Among marketers using generative AI, only 5% are seeing significant gains in business outcomes, indicating that AI implementation needs to be holistic rather than piecemeal [2][3] - 82% of business leaders believe companies will need to substantially revamp their identities to keep pace with AI, with CMOs playing a crucial role in crafting this narrative [2][3] Group 2 - Gartner suggests that CMOs who merely add AI to legacy systems will fail to drive growth, while those who reshape their business with AI will lead [3] - The generative AI market is speculated to be close to bursting, yet agencies and consumer brands continue to ramp up AI initiatives [4] - Gartner's hype cycle indicates that generative AI is in the early stages of disillusionment, while AI-powered agents are at the peak of inflated expectations [4] Group 3 - Gartner views AI as having immense and unrealized potential, with significant implications for marketers, particularly in digital advertising channels like search, social, and display [5] - Major digital ad platforms such as Google, Meta, and Amazon are investing tens of billions annually to stay at the forefront of AI technology [5]

Core Insights - Docusign has been recognized as a Leader in the 2025 Gartner Magic Quadrant for Contract Life Cycle Management (CLM) for the sixth consecutive year, highlighting its strong market position and capabilities [1][3] Company Performance - Docusign's Intelligent Agreement Management platform leverages AI to transform agreement data into actionable insights, enhancing productivity throughout the agreement process [2] - The company has over 1.7 million customers and serves more than a billion people across 180 countries, indicating a broad and diverse user base [7] Recognition and Awards - Docusign's recognition as a Leader is based on its Ability to Execute and Completeness of Vision, underscoring its commitment to delivering significant business impact through innovation [3] - The company has also been named the 1 Most Trustworthy Software and Telecommunications company in America by Newsweek and featured in Fortune's Future 50 list for long-term growth prospects [3]

Core Points - Gartner, Inc. announced the pricing of its registered public offering of $800 million aggregate principal amount of senior notes [1] - The offering consists of $350 million principal amount of 4.950% Senior Notes due 2031 and $450 million principal amount of 5.600% Senior Notes due 2035 [1] - The 2031 Notes were priced at an issue price of 99.970% and the 2035 Notes were priced at an issue price not specified in the excerpt [1]

Core Viewpoint - Gartner, Inc. has announced a proposed offering of senior unsecured notes to repay existing borrowings, cover related fees, and for general corporate purposes [1][2]. Offering Details - The offering is being conducted under a registered public offering and is subject to market conditions [1]. - The net proceeds from the offering will be used primarily to repay outstanding borrowings under the existing revolving credit facility [1]. Underwriters - J.P. Morgan Securities LLC, BofA Securities, Inc., Citigroup Global Markets Inc., and TD Securities (USA) LLC are acting as joint book-running managers for the offering [2]. Regulatory Filings - Gartner has filed a registration statement with the SEC, which became effective upon filing on November 12, 2025 [3]. - Investors are encouraged to read the base prospectus and preliminary prospectus supplement for complete information about the offering [3]. Contact Information - For inquiries, investors can contact David Cohen, SVP of Investor Relations at Gartner [10].

Core Insights - Madison Large Cap Fund underperformed the S&P 500 Index, decreasing by 2.2% in Q3 2025 compared to an 8.1% gain for the index, primarily due to a market focus on short-term profits [1] - Gartner, Inc. (NYSE:IT) was highlighted as a significant detractor in the fund's performance, with a one-month return of -7.33% and a 52-week loss of 58.48% [2][3] Company Performance - Gartner, Inc. reported revenue of $1.5 billion in Q3 2025, reflecting a 3% year-over-year increase, with a 1% increase when adjusted for foreign exchange [4] - The stock closed at $228.64 per share on November 6, 2025, with a market capitalization of $16.48 billion [2] Market Context - The decline in Gartner's stock was attributed to disappointing Q2 results and slower-than-expected growth, influenced by macroeconomic factors and potential AI disruption [3] - The company is not among the 30 most popular stocks among hedge funds, with 45 hedge fund portfolios holding its shares at the end of Q2 2025, down from 51 in the previous quarter [4] Investment Outlook - Despite acknowledging Gartner's potential, the fund believes that certain AI stocks present greater upside potential and lower downside risk [4] - The fund emphasizes Gartner's strong reputation and proprietary data as mitigating factors against AI disruption [3]

Core Insights - The slow-growth economic environment, influenced by tariff-related trade tensions, is the primary concern for enterprise risk leaders in Q3 2025 [1] - AI-related risks are rapidly increasing, with information governance risks rising to the second most cited concern and shadow AI moving to third place [2][3] Group 1: Emerging Risks - The top five emerging risks reflect concerns about a volatile low-growth macroeconomic environment and the disruptive nature of AI technology [4] - 72% of respondents believe timely action on risks is critical, yet only 15% feel confident in prioritizing which risks to address [5] Group 2: Risk Management Strategies - Gartner recommends that risk leaders establish impact thresholds across various dimensions, including regulatory, legal, reputational, and ESG factors [5] - Effective risk prioritization tactics are essential for enterprise risk management leaders to navigate conflicting signals and ensure timely stakeholder engagement [7]

Core Insights - Gartner identifies ten strategic technology trends that organizations need to focus on by 2026, emphasizing the unprecedented speed of innovation and transformation in the current year [1][3]. Group 1: AI Supercomputing Platforms - AI supercomputing platforms integrate various computing resources to manage complex workloads, enhancing performance and innovation potential [6]. - By 2028, over 40% of leading companies will apply hybrid computing paradigms to critical business processes, a significant increase from the current 8% [8]. Group 2: Multi-Agent Systems - Multi-agent systems consist of multiple AI agents that interact to achieve complex individual or collective goals, enhancing automation and collaboration [10]. Group 3: Domain-Specific Language Models (DSLM) - DSLMs are tailored AI models trained on specific industry data, providing higher accuracy and compliance for specialized tasks compared to general models [11]. - By 2028, over half of generative AI models used by enterprises will be domain-specific [13]. Group 4: AI Security Platforms - AI security platforms offer unified protection mechanisms for AI applications, helping organizations monitor activities and enforce usage policies [16]. - By 2028, over 50% of enterprises will utilize AI security platforms to safeguard their AI investments [16]. Group 5: AI Native Development Platforms - AI native development platforms enable rapid software development through generative AI, allowing non-technical experts to create applications [19]. - By 2030, 80% of enterprises will transform large software engineering teams into smaller, agile teams empowered by AI [19]. Group 6: Confidential Computing - Confidential computing protects sensitive data by isolating workloads in trusted execution environments, crucial for regulated industries [20]. - By 2029, over 75% of business processes handled in untrusted infrastructures will be secured through confidential computing [22]. Group 7: Physical AI - Physical AI empowers machines and devices with perception, decision-making, and action capabilities, providing significant benefits in automation and safety [23]. Group 8: Proactive Cybersecurity - Proactive cybersecurity is becoming a trend as organizations shift from passive defense to active protection, with AI-driven solutions playing a key role [26]. Group 9: Digital Traceability - Digital traceability is essential for verifying the source and integrity of software and data, especially as reliance on third-party software increases [30]. Group 10: Geopolitical Repatriation - Geopolitical repatriation involves moving data and applications to local platforms to mitigate geopolitical risks, a trend expected to grow significantly by 2030 [33].

Core Insights - Gartner, Inc. is a leading research and advisory company providing insights and tools for various sectors including IT, finance, HR, and customer service [1] - The company demonstrates effective capital management with a Return on Invested Capital (ROIC) of 24.87% and a Weighted Average Cost of Capital (WACC) of 8.07% [2][6] Capital Efficiency Comparison - Gartner's ROIC to WACC ratio is 3.08, indicating strong capital efficiency compared to its cost of capital [2] - CDW Corporation has a ROIC of 19.21% and a WACC of 7.30%, resulting in a ROIC to WACC ratio of 2.63, reflecting efficient capital use [3] - Mettler-Toledo International Inc. leads with a ROIC of 37.77% and a WACC of 9.74%, achieving the highest ROIC to WACC ratio of 3.88 among peers, indicating exceptional capital utilization [4] - Jack Henry & Associates has a ROIC to WACC ratio of 2.34, suggesting efficient capital use, while ANSYS, Inc. has a lower ratio of 0.88, indicating its returns do not cover its cost of capital [5][6]