Bessemer Group Inc. Sells 759,968 Shares of Gartner, Inc. $IT

Key Points

• Bessemer Group Inc. cut its Gartner stake by 97.4% in the first quarter, selling 759,968 shares and leaving it with 20,382 shares worth about $3.23 million.
• Wall Street sentiment on Gartner remains cautious, with analysts assigning an average Hold rating and a consensus price target of $173.10.
• Gartner reported Q1 EPS of $3.32, beating estimates, but revenue of $1.49 billion slightly missed expectations and fell 1.5% year over year.

Bessemer Group Inc. trimmed its holdings in Gartner, Inc. (NYSE:IT - Free Report) by 97.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 20,382 shares of the information technology services provider's stock after selling 759,968 shares during the period. Bessemer Group Inc.'s holdings in Gartner were worth $3,227,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of IT. Physician Wealth Advisors Inc. increased its stake in Gartner by 143.9% during the 4th quarter. Physician Wealth Advisors Inc. now owns 100 shares of the information technology services provider's stock worth $25,000 after purchasing an additional 59 shares in the last quarter. DV Equities LLC acquired a new stake in Gartner during the 4th quarter worth approximately $25,000. Rakuten Securities Inc. lifted its stake in Gartner by 1,980.0% in the fourth quarter. Rakuten Securities Inc. now owns 104 shares of the information technology services provider's stock valued at $26,000 after buying an additional 99 shares in the last quarter. Entrust Financial LLC bought a new position in Gartner in the fourth quarter valued at approximately $26,000. Finally, Elyxium Wealth LLC acquired a new position in shares of Gartner in the fourth quarter valued at approximately $28,000. 91.51% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on IT shares. The Goldman Sachs Group set a $162.00 price objective on shares of Gartner in a research report on Tuesday, May 5th. Weiss Ratings raised shares of Gartner from a "sell (d)" rating to a "sell (d+)" rating in a research note on Wednesday, July 15th. Morgan Stanley lowered their target price on Gartner from $183.00 to $173.00 and set an "equal weight" rating for the company in a report on Friday, July 10th. Royal Bank Of Canada dropped their price target on Gartner from $175.00 to $160.00 and set a "sector perform" rating on the stock in a research note on Wednesday, May 6th. Finally, UBS Group cut their price target on Gartner from $170.00 to $164.00 and set a "neutral" rating on the stock in a report on Friday, June 12th. Two equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $173.10.

Gartner Trading Down 4.5%

Shares of NYSE:IT opened at $134.76 on Wednesday. The company's 50-day moving average price is $145.35 and its two-hundred day moving average price is $164.84. Gartner, Inc. has a one year low of $124.25 and a one year high of $360.49. The company has a debt-to-equity ratio of 46.98, a current ratio of 0.94 and a quick ratio of 0.94. The stock has a market capitalization of $9.02 billion, a PE ratio of 13.32, a price-to-earnings-growth ratio of 0.78 and a beta of 0.97.

Gartner (NYSE:IT - Get Free Report) last released its earnings results on Tuesday, May 5th. The information technology services provider reported $3.32 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.99 by $0.33. Gartner had a return on equity of 161.39% and a net margin of 11.44%.The business had revenue of $1.49 billion for the quarter, compared to the consensus estimate of $1.51 billion. During the same quarter in the previous year, the business earned $2.98 earnings per share. Gartner's quarterly revenue was down 1.5% on a year-over-year basis. Gartner has set its FY 2026 guidance at 13.250- EPS. On average, equities analysts forecast that Gartner, Inc. will post 13.61 EPS for the current fiscal 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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