Acadian Asset Management LLC Buys 60,509 Shares of Gartner, Inc. $IT

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 raised its stake in shares of Gartner, Inc. (NYSE:IT - Free Report) by 15,241.6% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 60,906 shares of the information technology services provider's stock after buying 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.

A number of other institutional investors have also modified their holdings of the stock. Ransom Advisory Ltd purchased a new position in shares of Gartner in the 1st quarter valued at about $29,000. Olde Wealth Management LLC purchased a new stake in shares of Gartner during the 1st quarter valued at approximately $42,000. GW&K Investment Management LLC raised its position in shares of Gartner by 210.8% during the 1st quarter. GW&K Investment Management LLC now owns 115 shares of the information technology services provider's stock valued at $48,000 after buying an additional 78 shares during the period. Wayfinding Financial LLC purchased a new stake in shares of Gartner during the 1st quarter valued at approximately $55,000. Finally, Bayforest Capital Ltd raised its position in Gartner by 527.3% in the first quarter. Bayforest Capital Ltd now owns 138 shares of the information technology services provider's stock valued at $58,000 after purchasing an additional 116 shares during the period. Hedge funds and other institutional investors own 91.51% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Barclays lowered their target price on shares of Gartner from $475.00 to $320.00 and set an "overweight" rating for the company in a research note on Wednesday, August 6th. Wells Fargo & Company decreased their target price on shares of Gartner from $345.00 to $225.00 and set an "underweight" rating for the company in a research note on Wednesday, August 6th. Royal Bank Of Canada initiated coverage on shares of Gartner in a research report on Tuesday, September 9th. They issued a "sector perform" rating and a $263.00 price objective for the company. Morgan Stanley dropped their target price on shares of Gartner from $455.00 to $322.00 and set an "equal weight" rating for the company in a report on Wednesday, August 6th. Finally, The Goldman Sachs Group dropped their price objective on shares of Gartner from $535.00 to $457.00 and set a "buy" rating for the company in a research note on Wednesday, August 6th. Three research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Gartner currently has an average rating of "Hold" and an average target price of $357.44.

Gartner Stock Performance

Gartner stock traded up $3.02 during midday trading on Tuesday, reaching $249.91. 682,430 shares of the stock traded hands, compared to its average volume of 872,130. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 1.61. The firm has a fifty day moving average price of $289.30 and a two-hundred day moving average price of $377.00. The firm has a market cap of $18.93 billion, a price-to-earnings ratio of 15.37 and a beta of 1.20. Gartner, Inc. has a fifty-two week low of $223.65 and a fifty-two week high of $584.01.

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

Insider Activity at Gartner

In other 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 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 position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Jose M. Gutierrez acquired 417 shares of the business's stock in a transaction that occurred on Monday, August 18th. The shares were acquired at an average cost of $239.80 per share, with a total value of $99,996.60. Following the transaction, the director directly owned 2,080 shares in the company, valued at $498,784. The trade was a 25.08% increase in their position. The disclosure for this purchase can be found here. 3.60% 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.