Gartner, Inc. $IT Shares Sold by AQR Capital Management LLC

Key Points

• AQR Capital Management LLC has reduced its stake in Gartner, Inc. by 23.5% to approximately $67.58 million, owning 163,229 shares after selling 50,260 shares in the first quarter.
• Multiple analysts have recently lowered their price targets for Gartner stock, with Morgan Stanley cutting its target from $455.00 to $322.00, reflecting a broader trend of decreasing valuations.
• Gartner's recent earnings report showed a 5.7% year-over-year revenue increase, with adjusted earnings per share of $3.53, exceeding estimates despite revenue slightly below expectations.

AQR Capital Management LLC trimmed its position in Gartner, Inc. (NYSE:IT - Free Report) by 23.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 163,229 shares of the information technology services provider's stock after selling 50,260 shares during the quarter. AQR Capital Management LLC owned approximately 0.21% of Gartner worth $67,577,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in IT. Generation Investment Management LLP increased its stake in Gartner by 16.5% during the first quarter. Generation Investment Management LLP now owns 1,341,342 shares of the information technology services provider's stock valued at $563,015,000 after purchasing an additional 189,514 shares during the last quarter. Federation des caisses Desjardins du Quebec boosted its holdings in shares of Gartner by 38.1% in the 1st quarter. Federation des caisses Desjardins du Quebec now owns 8,662 shares of the information technology services provider's stock valued at $3,637,000 after buying an additional 2,388 shares during the period. EP Wealth Advisors LLC grew its position in shares of Gartner by 5.0% during the 1st quarter. EP Wealth Advisors LLC now owns 800 shares of the information technology services provider's stock valued at $336,000 after buying an additional 38 shares during the last quarter. Focus Partners Advisor Solutions LLC acquired a new stake in Gartner during the first quarter worth about $330,000. Finally, Quarry LP lifted its holdings in Gartner by 2,052.9% in the first quarter. Quarry LP now owns 732 shares of the information technology services provider's stock worth $307,000 after acquiring an additional 698 shares during the last quarter. Institutional investors and hedge funds own 91.51% of the company's stock.

Insiders Place Their Bets

In other news, SVP John J. Rinello sold 105 shares of the company's stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $249.71, for a total value of $26,219.55. Following the completion of the sale, 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 sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Jose M. Gutierrez bought 417 shares of the firm's stock in a transaction that occurred on Monday, August 18th. The shares were purchased at an average cost of $239.80 per share, with a total value 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 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 currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on IT. Royal Bank Of Canada initiated coverage on Gartner in a report on Tuesday. They set a "sector perform" rating and a $263.00 target price for the company. Wells Fargo & Company reduced their price objective on Gartner from $345.00 to $225.00 and set an "underweight" rating for the company in a research report on Wednesday, August 6th. Morgan Stanley dropped 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. Wolfe Research assumed coverage on shares of Gartner in a report on Wednesday, September 3rd. They set a "peer perform" rating for the company. Finally, UBS Group restated a "neutral" rating and set a $270.00 price target (down previously from $480.00) on shares of Gartner in a research report on Wednesday, August 6th. Three analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Gartner currently has a consensus rating of "Hold" and a consensus price target of $357.44.

Gartner Price Performance

Shares of NYSE:IT traded up $8.42 during trading on Thursday, reaching $241.01. The company had a trading volume of 1,381,519 shares, compared to its average volume of 1,311,188. The firm's fifty day moving average is $295.39 and its 200 day moving average is $382.12. The company has a debt-to-equity ratio of 1.61, a quick ratio of 1.11 and a current ratio of 1.11. The firm has a market capitalization of $18.25 billion, a PE ratio of 14.83 and a beta of 1.20. Gartner, Inc. has a twelve month low of $223.65 and a twelve month high of $584.01.

Gartner (NYSE:IT - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The information technology services provider reported $3.53 EPS for the quarter, beating analysts' consensus estimates of $3.38 by $0.15. The business 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%. The business's revenue for the quarter was up 5.7% on a year-over-year basis. During the same quarter last year, the business earned $3.22 earnings per share. Gartner has set its FY 2025 guidance at 11.750- EPS. On average, equities analysts forecast that Gartner, Inc. will post 12.5 EPS for the current 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.