Gartner, Inc. $IT Shares Purchased by Baird Financial Group Inc.

Key Points

• Baird Financial Group Inc. increased its holdings in Gartner, Inc. by 333.7%, acquiring an additional 54,330 shares in the first quarter, bringing their total ownership to 70,611 shares worth approximately $29.6 million.
• Other institutional investors also raised their stakes significantly, with T. Rowe Price increasing its share by 692.2% and JPMorgan Chase by 20.5% during the same period.
• Gartner reported earnings of $3.53 per share, beating analyst estimates, while its revenue grew by 5.7% year-over-year, indicating solid performance despite reduced price targets from analysts.

Baird Financial Group Inc. raised its stake in Gartner, Inc. (NYSE:IT - Free Report) by 333.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 70,611 shares of the information technology services provider's stock after acquiring an additional 54,330 shares during the period. Baird Financial Group Inc. owned approximately 0.09% of Gartner worth $29,638,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Panagora Asset Management Inc. increased its holdings in Gartner by 2.1% in the 1st quarter. Panagora Asset Management Inc. now owns 4,592 shares of the information technology services provider's stock valued at $1,927,000 after acquiring an additional 93 shares during the last quarter. Magnetar Financial LLC increased its holdings in Gartner by 188.8% in the 1st quarter. Magnetar Financial LLC now owns 28,986 shares of the information technology services provider's stock valued at $12,167,000 after acquiring an additional 18,951 shares during the last quarter. WPG Advisers LLC bought a new stake in Gartner in the 1st quarter valued at $69,000. Trexquant Investment LP increased its holdings in Gartner by 390.9% in the 1st quarter. Trexquant Investment LP now owns 43,111 shares of the information technology services provider's stock valued at $18,095,000 after acquiring an additional 34,329 shares during the last quarter. Finally, OMERS ADMINISTRATION Corp increased its holdings in shares of Gartner by 5.4% in the 1st quarter. OMERS ADMINISTRATION Corp now owns 19,728 shares of the information technology services provider's stock worth $8,281,000 after buying an additional 1,010 shares during the last quarter. 91.51% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

IT has been the subject of several recent research reports. Barclays dropped their price target on Gartner from $475.00 to $320.00 and set an "overweight" rating for the company in a research report on Wednesday, August 6th. Wolfe Research assumed coverage on shares of Gartner in a report on Wednesday. They set a "peer perform" rating on the stock. Morgan Stanley lowered their price objective on shares of Gartner from $455.00 to $322.00 and set an "equal weight" rating for the company in a research report on Wednesday, August 6th. Wells Fargo & Company lowered their price objective on shares of Gartner from $345.00 to $225.00 and set an "underweight" rating for the company in a research report on Wednesday, August 6th. Finally, The Goldman Sachs Group lowered their price target on shares of Gartner from $535.00 to $457.00 and set a "buy" rating for the company in a research report on Wednesday, August 6th. Three investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $369.25.

Insiders Place Their Bets

In related news, Director Jose M. Gutierrez purchased 417 shares of the firm's stock in a transaction on Monday, August 18th. The stock was acquired at an average price of $239.80 per share, with a total value of $99,996.60. Following the completion of the acquisition, the director owned 2,080 shares in the company, valued at approximately $498,784. This represents a 25.08% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP John J. Rinello sold 105 shares of the firm's 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 completion of the transaction, the senior vice president directly owned 3,225 shares of the company's stock, valued at approximately $805,314.75. This represents a 3.15% decrease in their position. The disclosure for this sale can be found here. Company insiders own 3.60% of the company's stock.

Gartner Stock Down 1.5%

NYSE:IT traded down $3.66 during midday trading on Wednesday, reaching $247.25. 986,121 shares of the stock traded hands, compared to its average volume of 1,766,302. Gartner, Inc. has a 12-month low of $223.65 and a 12-month high of $584.01. The business has a 50-day moving average of $314.69 and a two-hundred day moving average of $393.05. 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 stock has a market capitalization of $18.73 billion, a PE ratio of 15.22 and a beta of 1.20.

Gartner (NYSE:IT - Get Free Report) last posted its earnings results 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. 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 analysts' expectations of $1.68 billion. During the same quarter in the prior year, the company posted $3.22 earnings per share. Gartner'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 analysts forecast that Gartner, Inc. will post 12.5 earnings per share for the current fiscal 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.