Caxton Associates LLP Purchases New Position in Gartner, Inc. $IT

Key Points

• Caxton Associates LLP acquired a new position in Gartner, purchasing 6,046 shares worth about $2.54 million in the first quarter.
• Gartner reported a net margin of 19.71% and earnings of $3.53 per share, exceeding analysts' estimates during its last earnings report.
• Institutional investors now own 91.51% of Gartner's stock, with significant increases in holdings from firms like T. Rowe Price and GAMMA Investing.

Caxton Associates LLP acquired a new position in shares of Gartner, Inc. (NYSE:IT - Free Report) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 6,046 shares of the information technology services provider's stock, valued at approximately $2,538,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Voleon Capital Management LP raised its holdings in shares of Gartner by 11.0% during the first quarter. Voleon Capital Management LP now owns 25,200 shares of the information technology services provider's stock worth $10,577,000 after acquiring an additional 2,494 shares during the period. Goldman Sachs Group Inc. raised its holdings in shares of Gartner by 9.4% during the first quarter. Goldman Sachs Group Inc. now owns 956,223 shares of the information technology services provider's stock worth $401,365,000 after acquiring an additional 82,307 shares during the period. Dynamic Technology Lab Private Ltd raised its holdings in shares of Gartner by 94.9% during the first quarter. Dynamic Technology Lab Private Ltd now owns 2,670 shares of the information technology services provider's stock worth $1,121,000 after acquiring an additional 1,300 shares during the period. USS Investment Management Ltd raised its holdings in shares of Gartner by 4.7% during the first quarter. USS Investment Management Ltd now owns 13,580 shares of the information technology services provider's stock worth $5,697,000 after acquiring an additional 605 shares during the period. Finally, UniSuper Management Pty Ltd raised its holdings in shares of Gartner by 4.7% during the first quarter. UniSuper Management Pty Ltd now owns 17,057 shares of the information technology services provider's stock worth $7,160,000 after acquiring an additional 761 shares during the period. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Jose M. Gutierrez acquired 417 shares of the stock in a transaction dated Monday, August 18th. The shares were bought at an average cost of $239.80 per share, for a total transaction of $99,996.60. Following the purchase, the director directly owned 2,080 shares of the company's stock, valued at approximately $498,784. This trade represents a 25.08% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP John J. Rinello sold 105 shares of the business's stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $249.71, for a total transaction of $26,219.55. Following the transaction, the senior vice president owned 3,225 shares in the company, valued at $805,314.75. This represents a 3.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.30% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on IT. Wells Fargo & Company lowered their price target on shares of Gartner from $345.00 to $225.00 and set an "underweight" rating on the stock in a research note on Wednesday, August 6th. Royal Bank Of Canada began coverage on shares of Gartner in a research note on Tuesday, September 9th. They issued a "sector perform" rating and a $263.00 price target on the stock. BMO Capital Markets lowered their price target on shares of Gartner from $409.00 to $272.00 and set a "market perform" rating on the stock in a research note on Wednesday, August 6th. Barclays lowered their price target on shares of Gartner from $475.00 to $320.00 and set an "overweight" rating on the stock in a research note on Wednesday, August 6th. Finally, Morgan Stanley lowered their price target on shares of Gartner from $455.00 to $322.00 and set an "equal weight" rating on the stock in a research note on Wednesday, August 6th. Three analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $357.44.

Gartner Stock Performance

Shares of Gartner stock traded up $6.28 during trading on Friday, hitting $247.40. 2,214,210 shares of the stock were exchanged, compared to its average volume of 1,311,042. The stock has a market capitalization of $18.74 billion, a price-to-earnings ratio of 15.22 and a beta of 1.20. The company has a fifty day moving average price of $292.34 and a 200-day moving average price of $378.76. Gartner, Inc. has a 1-year low of $223.65 and a 1-year high of $584.01. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 1.61.

Gartner (NYSE:IT - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The information technology services provider reported $3.53 earnings per share for the quarter, topping the consensus estimate of $3.38 by $0.15. The company had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.68 billion. Gartner had a net margin of 19.71% and a return on equity of 82.63%. Gartner's revenue for the quarter was up 5.7% compared to the same quarter last year. During the same period in the previous year, the business earned $3.22 EPS. Gartner has set its FY 2025 guidance at 11.750- EPS. As a group, equities analysts predict that Gartner, Inc. will post 12.5 EPS for the current fiscal year.

Gartner Profile

Gartner, Inc operates as a research and advisory company in the United States, Canada, Europe, the Middle East, Africa, and internationally. It operates through three segments: Research, Conferences, and Consulting. The Research segment delivers its research primarily through a subscription service that include on-demand access to published research content, data and benchmarks, and direct access to a network of research experts.