BI Asset Management Fondsmaeglerselskab A S Has $5.67 Million Position in Gartner, Inc. $IT

Key Points

• BI Asset Management Fondsmaeglerselskab A S has cut its stake in Gartner, Inc. by 33.0%, now owning 13,501 shares worth approximately $5.67 million after selling 6,654 shares in the first quarter.
• Gartner reported $3.53 earnings per share for the last quarter, exceeding analyst expectations of $3.38, with a quarterly revenue of $1.66 billion.
• Multiple analysts have downgraded their price targets for Gartner, with UBS Group lowering its target from $480.00 to $270.00 and Wells Fargo reducing it from $345.00 to $225.00.

BI Asset Management Fondsmaeglerselskab A S reduced its position in Gartner, Inc. (NYSE:IT - Free Report) by 33.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,501 shares of the information technology services provider's stock after selling 6,654 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S's holdings in Gartner were worth $5,667,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Cary Street Partners Financial LLC bought a new position in shares of Gartner during the fourth quarter valued at approximately $27,000. Itau Unibanco Holding S.A. grew its holdings in shares of Gartner by 453.3% during the fourth quarter. Itau Unibanco Holding S.A. now owns 83 shares of the information technology services provider's stock valued at $40,000 after purchasing an additional 68 shares during the last quarter. Olde Wealth Management LLC bought a new position in shares of Gartner during the first quarter valued at approximately $42,000. GW&K Investment Management LLC grew its holdings in shares of Gartner by 210.8% during the first quarter. GW&K Investment Management LLC now owns 115 shares of the information technology services provider's stock valued at $48,000 after purchasing an additional 78 shares during the last quarter. Finally, Wayfinding Financial LLC bought a new position in shares of Gartner during the first quarter valued at approximately $55,000. 91.51% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Wells Fargo & Company decreased 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. UBS Group restated a "neutral" rating and issued a $270.00 target price (down from $480.00) on shares of Gartner in a research report on Wednesday, August 6th. BMO Capital Markets cut their target price on Gartner from $409.00 to $272.00 and set a "market perform" rating for the company in a research report on Wednesday, August 6th. The Goldman Sachs Group cut their price objective on Gartner from $535.00 to $457.00 and set a "buy" rating for the company in a research report on Wednesday, August 6th. Finally, Barclays cut their price objective on Gartner from $475.00 to $320.00 and set an "overweight" rating for the company in a research report on Wednesday, August 6th. Three equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, Gartner presently has a consensus rating of "Hold" and a consensus target price of $369.25.

Insider Activity

In other Gartner news, Director Jose M. Gutierrez purchased 417 shares of the stock in a transaction dated Monday, August 18th. The shares were 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 $498,784. This trade represents a 25.08% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 3.60% of the company's stock.

Gartner Stock Up 0.0%

Gartner stock traded up $0.07 during mid-day trading on Tuesday, hitting $241.54. 327,233 shares of the company's stock were exchanged, compared to its average volume of 823,107. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 1.61. The stock has a market cap of $18.29 billion, a P/E ratio of 14.86 and a beta of 1.19. Gartner, Inc. has a 1-year low of $223.65 and a 1-year high of $584.01. The stock has a 50 day moving average of $335.89 and a two-hundred day moving average of $404.56.

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, topping the consensus estimate of $3.38 by $0.15. The firm had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $1.68 billion. Gartner had a net margin of 19.71% and a return on equity of 82.63%. The business's quarterly revenue was up 5.7% on a year-over-year basis. During the same period in the prior year, the business posted $3.22 earnings per share. Gartner has set its FY 2025 guidance at 11.750- EPS. As a group, analysts anticipate that Gartner, Inc. will post 12.5 EPS for the current fiscal year.

About Gartner

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.