Gartner, Inc. $IT Shares Sold by Axiom Investors LLC DE

Key Points

• Axiom Investors LLC DE decreased its stake in Gartner, Inc. by 55.5%, selling 169,439 shares and now owning 135,896 shares worth approximately $57 million.
• Gartner reported $3.53 earnings per share for the last quarter, exceeding analysts' estimates, with a revenue increase of 5.7% year-over-year despite falling short of the consensus revenue estimate.
• Analysts have lowered their price targets for Gartner, with new targets ranging from $272 to $475, reflecting differing outlooks on the stock's performance.

Axiom Investors LLC DE decreased its stake in Gartner, Inc. (NYSE:IT - Free Report) by 55.5% in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 135,896 shares of the information technology services provider's stock after selling 169,439 shares during the quarter. Axiom Investors LLC DE owned about 0.18% of Gartner worth $57,041,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in shares of Gartner by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 9,433,449 shares of the information technology services provider's stock worth $3,959,596,000 after purchasing an additional 164,810 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Gartner by 20.5% in the 1st quarter. JPMorgan Chase & Co. now owns 1,245,563 shares of the information technology services provider's stock worth $522,813,000 after purchasing an additional 211,842 shares during the period. T. Rowe Price Investment Management Inc. boosted its holdings in shares of Gartner by 692.2% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 1,066,732 shares of the information technology services provider's stock worth $447,751,000 after purchasing an additional 932,077 shares during the period. Northern Trust Corp boosted its holdings in shares of Gartner by 11.0% in the 1st quarter. Northern Trust Corp now owns 1,006,655 shares of the information technology services provider's stock worth $422,533,000 after purchasing an additional 99,822 shares during the period. Finally, Goldman Sachs Group Inc. boosted its holdings in shares of Gartner by 9.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 956,223 shares of the information technology services provider's stock worth $401,365,000 after purchasing an additional 82,307 shares during the period. Hedge funds and other institutional investors own 91.51% of the company's stock.

Wall Street Analyst Weigh In

IT has been the subject of a number of recent analyst reports. Barclays dropped their price objective on Gartner from $475.00 to $320.00 and set an "overweight" rating for the company in a report on Wednesday, August 6th. UBS Group restated a "neutral" rating and set a $270.00 price objective (down previously from $480.00) on shares of Gartner in a report on Wednesday, August 6th. Morgan Stanley dropped their price objective on Gartner from $455.00 to $322.00 and set an "equal weight" rating for the company in a report on Wednesday, August 6th. Wells Fargo & Company dropped their price objective on Gartner from $345.00 to $225.00 and set an "underweight" rating for the company in a report on Wednesday, August 6th. Finally, Wolfe Research initiated coverage on Gartner in a report on Wednesday, September 3rd. They set 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 issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $357.44.

Gartner Stock Up 2.6%

Shares of IT stock traded up $6.28 during mid-day trading on Friday, hitting $247.40. The stock had a trading volume of 2,214,210 shares, compared to its average volume of 1,281,129. Gartner, Inc. has a 12-month low of $223.65 and a 12-month high of $584.01. The firm has a market capitalization of $18.74 billion, a P/E ratio of 15.22 and a beta of 1.20. The firm's 50-day moving average is $292.34 and its two-hundred day moving average is $380.36. The company has a debt-to-equity ratio of 1.61, a current ratio of 1.11 and a quick ratio of 1.11.

Gartner (NYSE:IT - Get Free Report) last issued its earnings results 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. Gartner had a return on equity of 82.63% and a net margin of 19.71%.The business had revenue of $1.66 billion during the quarter, compared to analysts' expectations of $1.68 billion. During the same period in the prior year, the business earned $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, analysts predict that Gartner, Inc. will post 12.5 earnings per share for the current fiscal year.

Insider Buying and Selling at Gartner

In other Gartner 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 directly owned 3,225 shares in the company, valued at approximately $805,314.75. This represents a 3.15% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jose M. Gutierrez purchased 417 shares of Gartner stock in a transaction dated Monday, August 18th. The stock was bought at an average cost of $239.80 per share, with a total value of $99,996.60. Following the completion of the transaction, the director owned 2,080 shares in the company, valued at approximately $498,784. This 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 Company 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.