Gartner, Inc. $IT Stock Holdings Boosted by Acadian Asset Management LLC

Key Points

• Acadian Asset Management LLC significantly increased its stake in Gartner, Inc. by 15,241.6% in the first quarter, owning approximately 60,906 shares worth around $25.5 million.
• Gartner's recent earnings report revealed an EPS of $3.53, exceeding analysts' estimates, while the company projected a FY 2025 EPS guidance of 11.750.
• Analysts have downgraded Gartner's stock price targets, with Barclays reducing its target from $475 to $320, and Wells Fargo bringing it down from $345 to $225.

Acadian Asset Management LLC grew its position in Gartner, Inc. (NYSE:IT - Free Report) by 15,241.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 60,906 shares of the information technology services provider's stock after acquiring an additional 60,509 shares during the period. Acadian Asset Management LLC owned about 0.08% of Gartner worth $25,553,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Ransom Advisory Ltd acquired a new stake in shares of Gartner in the first quarter valued at about $29,000. Olde Wealth Management LLC acquired a new stake in shares of Gartner in the first quarter valued at about $42,000. GW&K Investment Management LLC lifted its stake in shares of Gartner by 210.8% in the first quarter. GW&K Investment Management LLC now owns 115 shares of the information technology services provider's stock valued at $48,000 after purchasing an additional 78 shares during the period. Wayfinding Financial LLC acquired a new stake in shares of Gartner in the first quarter valued at about $55,000. Finally, Bayforest Capital Ltd raised its position in Gartner by 527.3% during the first quarter. Bayforest Capital Ltd now owns 138 shares of the information technology services provider's stock worth $58,000 after acquiring an additional 116 shares during the last quarter. Institutional investors and hedge funds own 91.51% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on IT. Wells Fargo & Company cut their target price on shares of Gartner from $345.00 to $225.00 and set an "underweight" rating for the company in a research report on Wednesday, August 6th. Barclays cut their price objective on shares of Gartner from $475.00 to $320.00 and set an "overweight" rating for the company in a research report on Wednesday, August 6th. Morgan Stanley cut their price objective on shares of Gartner from $455.00 to $322.00 and set an "equal weight" rating for the company in a research report on Wednesday, August 6th. The Goldman Sachs Group cut their price objective on shares of Gartner from $535.00 to $457.00 and set a "buy" rating for the company in a research report on Wednesday, August 6th. Finally, Wolfe Research began coverage on shares of Gartner in a research report on Wednesday, September 3rd. They issued a "peer perform" rating for the company. Three investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $357.44.

Gartner Trading Up 2.6%

IT traded up $6.28 during trading on Friday, hitting $247.40. 2,214,210 shares of the company's stock were exchanged, compared to its average volume of 1,281,129. 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, Inc. has a 1 year low of $223.65 and a 1 year high of $584.01. The stock has a 50 day moving average price of $292.34 and a 200 day moving average price of $379.54. The firm has a market cap of $18.74 billion, a P/E ratio of 15.22 and a beta of 1.20.

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

Insiders Place Their Bets

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

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.