Caisse DE Depot ET Placement DU Quebec Acquires 7,578 Shares of Gartner, Inc. $IT

Key Points

• Caisse DE Depot ET Placement DU Quebec increased its stake in Gartner, Inc. by 28.0% in the first quarter, now holding 34,643 shares valued at approximately $14.5 million.
• Gartner reported a 5.7% year-over-year revenue increase in its latest quarter, with earnings per share of $3.53, exceeding analyst estimates of $3.38.
• Analysts have modified their price targets for Gartner, with estimates ranging from $225 to $530, leading to a consensus price target of $369.25 and an average rating of "Hold."

Caisse DE Depot ET Placement DU Quebec increased its holdings in shares of Gartner, Inc. (NYSE:IT - Free Report) by 28.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 34,643 shares of the information technology services provider's stock after buying an additional 7,578 shares during the period. Caisse DE Depot ET Placement DU Quebec's holdings in Gartner were worth $14,541,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Taikang Asset Management Hong Kong Co Ltd boosted its position in Gartner by 30.0% during the 1st quarter. Taikang Asset Management Hong Kong Co Ltd now owns 6,693 shares of the information technology services provider's stock worth $2,809,000 after buying an additional 1,545 shares during the period. Thematics Asset Management boosted its stake in shares of Gartner by 16.8% in the 1st quarter. Thematics Asset Management now owns 9,309 shares of the information technology services provider's stock valued at $3,907,000 after purchasing an additional 1,342 shares during the last quarter. ICONIQ Capital LLC bought a new stake in shares of Gartner in the 1st quarter valued at $220,000. Jump Financial LLC boosted its stake in shares of Gartner by 266.2% in the 1st quarter. Jump Financial LLC now owns 5,295 shares of the information technology services provider's stock valued at $2,223,000 after purchasing an additional 3,849 shares during the last quarter. Finally, Smartleaf Asset Management LLC boosted its stake in shares of Gartner by 4.0% in the 1st quarter. Smartleaf Asset Management LLC now owns 1,268 shares of the information technology services provider's stock valued at $530,000 after purchasing an additional 49 shares during the last quarter. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Morgan Stanley reduced their price objective on shares of Gartner from $455.00 to $322.00 and set an "equal weight" rating on the stock in a research note on Wednesday, August 6th. The Goldman Sachs Group reduced their price objective 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. Barclays dropped their target price on shares of Gartner from $475.00 to $320.00 and set an "overweight" rating on the stock in a research report on Wednesday, August 6th. Wells Fargo & Company dropped their target price on shares of Gartner from $345.00 to $225.00 and set an "underweight" rating on the stock in a research report on Wednesday, August 6th. Finally, UBS Group reiterated a "neutral" rating and set a $270.00 target price (down previously from $480.00) on shares of Gartner in a research report on Wednesday, August 6th. Three research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $369.25.

Gartner Stock Up 1.3%

IT stock traded up $3.34 during midday trading on Monday, reaching $251.07. 920,018 shares of the company's stock traded hands, compared to its average volume of 1,847,286. Gartner, Inc. has a 52 week low of $223.65 and a 52 week high of $584.01. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 1.61. The company has a market cap of $19.02 billion, a price-to-earnings ratio of 15.45 and a beta of 1.20. The firm's fifty day moving average price is $323.74 and its 200-day moving average price is $396.91.

Gartner (NYSE:IT - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The information technology services provider reported $3.53 earnings per share 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 for the quarter, compared to analyst estimates of $1.68 billion. During the same period last year, the firm earned $3.22 earnings per share. The firm's revenue was up 5.7% on a year-over-year basis. Gartner has set its FY 2025 guidance at 11.750- EPS. As a group, sell-side analysts forecast that Gartner, Inc. will post 12.5 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Jose M. Gutierrez purchased 417 shares of Gartner stock in a transaction that occurred on Monday, August 18th. The stock was bought at an average price of $239.80 per share, for a total transaction of $99,996.60. Following the completion of the transaction, the director owned 2,080 shares in the company, valued at $498,784. This represents a 25.08% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP John J. Rinello sold 105 shares of the stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $249.71, for a total transaction of $26,219.55. Following the transaction, the senior vice president owned 3,225 shares of the company's stock, valued at approximately $805,314.75. The trade was a 3.15% decrease in their position. The disclosure for this sale can be found here. 3.60% of the stock is currently owned by corporate insiders.

Gartner Company 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.