BlackRock Inc. Purchases New Shares in Gartner, Inc. $IT

Key Points

• BlackRock acquired 5.22 million Gartner shares in the second quarter, valued at approximately $676.2 million, giving it a 7.79% stake. Institutional investors collectively own 91.51% of the company.
• Gartner exceeded quarterly expectations, reporting $4.37 in adjusted EPS versus the $3.76 consensus and $1.68 billion in revenue. Revenue nevertheless declined 0.6% year over year, while analysts expect $14.42 in full-year EPS.
• Analyst sentiment remains mixed, with a consensus rating of “Hold” and an average price target of $187.30. Gartner shares opened at $195.92, while two company insiders recently sold shares.

BlackRock Inc. acquired a new stake in Gartner, Inc. (NYSE:IT - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 5,217,146 shares of the information technology services provider's stock, valued at approximately $676,246,000. BlackRock Inc. owned approximately 7.79% of Gartner as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the company. Oppenheimer Asset Management Inc. purchased a new position in shares of Gartner during the 2nd quarter valued at approximately $2,872,000. Plato Investment Management Ltd increased its holdings in Gartner by 293.4% in the 4th quarter. Plato Investment Management Ltd now owns 9,002 shares of the information technology services provider's stock worth $2,282,000 after acquiring an additional 6,714 shares in the last quarter. Ashton Thomas Private Wealth LLC acquired a new position in Gartner during the fourth quarter worth $3,318,000. Wedge Capital Management L L P NC boosted its holdings in Gartner by 34.1% in the 2nd quarter. Wedge Capital Management L L P NC now owns 54,196 shares of the information technology services provider's stock worth $7,025,000 after buying an additional 13,776 shares during the last quarter. Finally, Bank of America Corp DE increased its stake in Gartner by 60.1% during the 1st quarter. Bank of America Corp DE now owns 773,771 shares of the information technology services provider's stock worth $122,519,000 after buying an additional 290,499 shares in the last quarter. 91.51% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Gartner

In related news, EVP Yvonne Genovese sold 1,205 shares of the company's stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $190.06, for a total transaction of $229,022.30. Following the sale, the executive vice president directly owned 6,208 shares in the company, valued at approximately $1,179,892.48. This represents a 16.26% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Anne Sutherland Fuchs sold 860 shares of the firm's stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $184.30, for a total transaction of $158,498.00. Following the completion of the sale, the director directly owned 8,097 shares in the company, valued at approximately $1,492,277.10. This trade represents a 9.60% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 2.60% of the company's stock.

Wall Street Analyst Weigh In

IT has been the subject of a number of recent research reports. UBS Group increased their price objective on shares of Gartner from $164.00 to $196.00 and gave the company a "neutral" rating in a report on Wednesday, August 5th. Wells Fargo & Company upped their price target on Gartner from $120.00 to $150.00 and gave the company an "underweight" rating in a research note on Wednesday, August 5th. Zacks Research raised Gartner from a "hold" rating to a "strong-buy" rating in a research note on Thursday, August 6th. The Goldman Sachs Group boosted their price target on shares of Gartner from $162.00 to $181.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 5th. Finally, Truist Financial set a $205.00 price target on shares of Gartner in a research report on Wednesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $187.30.

Gartner Trading Up 0.0%

NYSE:IT opened at $195.92 on Monday. The firm has a market cap of $12.37 billion, a PE ratio of 17.57, a price-to-earnings-growth ratio of 0.68 and a beta of 0.94. The stock has a fifty day moving average price of $151.55 and a 200 day moving average price of $154.82. Gartner, Inc. has a 12-month low of $124.25 and a 12-month high of $265.85. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 46.98.

Gartner (NYSE:IT - Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The information technology services provider reported $4.37 earnings per share for the quarter, topping the consensus estimate of $3.76 by $0.61. The company had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.65 billion. Gartner had a return on equity of 525.46% and a net margin of 11.99%.Gartner's revenue was down .6% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.53 EPS. Gartner has set its FY 2026 guidance at 14.000- EPS. Sell-side analysts anticipate that Gartner, Inc. will post 14.42 earnings per share for the current fiscal year.

Gartner Company Profile

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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