AXQ Capital LP Cuts Stock Position in Gartner, Inc. $IT

Key Points

• AXQ Capital cut its Gartner position by 65.8% in the second quarter, selling 11,266 shares and retaining 5,851 shares valued at approximately $758,000. Institutional investors collectively own 91.51% of the company.
• Analyst sentiment remains mixed, with Gartner receiving a consensus “Hold” rating and an average price target of $187.30; targets range from $177 to $206 among recent updates.
• Gartner exceeded quarterly expectations, reporting $4.37 in earnings per share versus the $3.76 consensus and $1.68 billion in revenue, although revenue declined 0.6% year over year.

AXQ Capital LP cut its position in Gartner, Inc. (NYSE:IT - Free Report) by 65.8% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,851 shares of the information technology services provider's stock after selling 11,266 shares during the quarter. AXQ Capital LP's holdings in Gartner were worth $758,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. Oppenheimer Asset Management Inc. purchased a new position in shares of Gartner in the second quarter worth $2,872,000. Plato Investment Management Ltd lifted its stake in shares of Gartner by 293.4% during the fourth quarter. Plato Investment Management Ltd now owns 9,002 shares of the information technology services provider's stock worth $2,282,000 after buying an additional 6,714 shares during the period. Wedge Capital Management L L P NC grew its holdings in shares of Gartner by 34.1% during the second quarter. Wedge Capital Management L L P NC now owns 54,196 shares of the information technology services provider's stock valued at $7,025,000 after buying an additional 13,776 shares during the last quarter. Bank of America Corp DE increased its position in shares of Gartner by 60.1% in the 1st quarter. Bank of America Corp DE now owns 773,771 shares of the information technology services provider's stock valued at $122,519,000 after acquiring an additional 290,499 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of Gartner by 4.9% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 163,735 shares of the information technology services provider's stock valued at $38,810,000 after acquiring an additional 7,717 shares during the period. 91.51% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director Anne Fuchs sold 860 shares of the company's stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $184.30, for a total transaction of $158,498.00. Following the completion of the transaction, the director directly owned 8,097 shares of the company's stock, valued at $1,492,277.10. This represents a 9.60% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Akhil Jain sold 700 shares of the stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $201.73, for a total value of $141,211.00. Following the transaction, the executive vice president owned 8,130 shares in the company, valued at $1,640,064.90. This trade represents a 7.93% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 6,043 shares of company stock worth $1,172,858. Company insiders own 2.60% of the company's stock.

Analyst Ratings Changes

IT has been the topic of several research analyst reports. Morgan Stanley set a $177.00 price target on Gartner in a research note on Wednesday, August 5th. Truist Financial set a $205.00 price objective on Gartner in a research note on Wednesday, August 5th. BMO Capital Markets decreased their target price on Gartner from $214.00 to $206.00 and set a "market perform" rating for the company in a report on Tuesday, August 18th. Zacks Research raised shares of Gartner from a "hold" rating to a "strong-buy" rating in a research report on Thursday, August 6th. Finally, The Goldman Sachs Group lifted their price objective on shares of Gartner from $162.00 to $181.00 and gave the company a "neutral" rating in a research note on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $187.30.

Gartner Stock Performance

IT opened at $186.19 on Monday. The company has a debt-to-equity ratio of 46.98, a current ratio of 0.88 and a quick ratio of 0.88. The firm has a fifty day moving average price of $163.98 and a 200 day moving average price of $157.40. Gartner, Inc. has a 1 year low of $124.25 and a 1 year high of $265.85. The stock has a market cap of $11.76 billion, a P/E ratio of 16.70, a P/E/G ratio of 0.65 and a beta of 0.96.

Gartner (NYSE:IT - Get Free Report) last released its quarterly earnings data on Tuesday, August 4th. The information technology services provider reported $4.37 earnings per share for the quarter, beating analysts' consensus estimates of $3.76 by $0.61. Gartner had a net margin of 11.99% and a return on equity of 525.46%. The company had revenue of $1.68 billion during the quarter, compared to analysts' expectations of $1.65 billion. During the same quarter in the previous year, the company earned $3.53 earnings per share. The firm's revenue for the quarter was down .6% on a year-over-year basis. Gartner has set its FY 2026 guidance at 14.000- EPS. Equities research analysts anticipate that Gartner, Inc. will post 14.39 earnings per share for the current year.

About Gartner

Gartner, Inc is a global research and advisory firm that provides insights, advice and tools for leaders in IT, finance, HR, customer service and other business functions. Founded in 1979 and headquartered in Stamford, Connecticut, Gartner specializes in helping organizations make informed decisions about technology, operations and strategy through a combination of published research, advisory services, consulting, executive programs and events.

The company's offerings include proprietary research reports, market forecasts, and analytical frameworks that are widely used by technology buyers and vendors.

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