AG2R LA Mondiale Gestion D Actifs Invests $1.35 Million in Gartner, Inc. $IT

Key Points

• AG2R LA Mondiale Gestion D Actifs has acquired a new stake in Gartner, Inc., purchasing 3,086 shares valued at approximately $1,347,000 in the first quarter of the year.
• Institutions like Vanguard, JP Morgan, and T. Rowe Price have also increased their holdings, indicating a significant interest in Gartner's stock, with over 91.51% of shares owned by institutional investors.
• Gartner reported earnings per share of $3.53 for the last quarter, surpassing expectations, and set guidance for FY 2025 at 11.750 EPS, while analysts maintain a consensus rating of "Hold".

AG2R LA Mondiale Gestion D Actifs acquired a new position in shares of Gartner, Inc. (NYSE:IT - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 3,086 shares of the information technology services provider's stock, valued at approximately $1,347,000.

A number of other hedge funds also recently made changes to their positions in the stock. eCIO Inc. acquired a new stake in Gartner during the first quarter worth approximately $160,000. First Hawaiian Bank grew its stake in Gartner by 19.1% during the first quarter. First Hawaiian Bank now owns 2,572 shares of the information technology services provider's stock worth $1,080,000 after purchasing an additional 413 shares during the period. Acadian Asset Management LLC grew its stake in Gartner by 15,241.6% during the first quarter. Acadian Asset Management LLC now owns 60,906 shares of the information technology services provider's stock worth $25,553,000 after purchasing an additional 60,509 shares during the period. Intech Investment Management LLC grew its stake in Gartner by 76.1% during the first quarter. Intech Investment Management LLC now owns 14,725 shares of the information technology services provider's stock worth $6,181,000 after purchasing an additional 6,363 shares during the period. Finally, Ransom Advisory Ltd acquired a new stake in Gartner in the first quarter valued at approximately $29,000. 91.51% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

IT has been the topic of several analyst reports. UBS Group reaffirmed a "neutral" rating and set a $270.00 target price (down previously from $480.00) on shares of Gartner in a research report on Wednesday, August 6th. Royal Bank Of Canada initiated coverage on Gartner in a research report on Tuesday, September 9th. They set a "sector perform" rating and a $263.00 target price on the stock. The Goldman Sachs Group cut their target price on Gartner from $535.00 to $457.00 and set a "buy" rating on the stock in a research report on Wednesday, August 6th. Morgan Stanley cut their target price on Gartner from $455.00 to $322.00 and set an "equal weight" rating on the stock in a research report on Wednesday, August 6th. Finally, Wells Fargo & Company dropped their price target on Gartner from $345.00 to $225.00 and set an "underweight" rating on the stock in a report on Wednesday, August 6th. Three equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $357.44.

Insider Buying and Selling at Gartner

In other news, SVP John J. Rinello sold 105 shares of the stock in a transaction on 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 directly owned 3,225 shares of the company's stock, valued at $805,314.75. This represents a 3.15% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Jose M. Gutierrez purchased 417 shares of the stock in a transaction dated Monday, August 18th. The shares were purchased 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 in the company, valued at approximately $498,784. This trade represents a 25.08% increase in their ownership of the stock. The disclosure for this purchase can be found here. 2.30% of the stock is owned by corporate insiders.

Gartner Price Performance

Shares of IT traded up $3.53 during midday trading on Friday, reaching $256.55. The stock had a trading volume of 4,285,572 shares, compared to its average volume of 1,398,057. Gartner, Inc. has a 12-month low of $223.65 and a 12-month 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. The company's 50-day moving average is $278.51 and its 200 day moving average is $372.09. The company has a market capitalization of $19.43 billion, a price-to-earnings ratio of 15.79 and a beta of 1.20.

Gartner (NYSE:IT - Get Free Report) last announced its earnings results on Tuesday, August 5th. The information technology services provider reported $3.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.38 by $0.15. Gartner had a return on equity of 82.63% and a net margin of 19.71%.The firm had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.68 billion. During the same quarter in the prior year, the company earned $3.22 EPS. The business's revenue 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 analysts predict that Gartner, Inc. will post 12.5 EPS for the current fiscal year.

About Gartner

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.