Canada Pension Plan Investment Board Decreases Stock Holdings in Gartner, Inc. $IT

Key Points

• The Canada Pension Plan Investment Board has reduced its holdings in Gartner, Inc. by 31.9%, now owning approximately 0.09% of the company worth about $27.54 million.
• Gartner reported a 5.7% increase in year-over-year revenue, with earnings per share at $3.53, surpassing analysts' estimates.
• Equities analysts have significantly lowered their price targets for Gartner, with Wells Fargo reducing it from $345 to $225 and Morgan Stanley from $455 to $322.

Canada Pension Plan Investment Board decreased its holdings in Gartner, Inc. (NYSE:IT - Free Report) by 31.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 65,618 shares of the information technology services provider's stock after selling 30,808 shares during the period. Canada Pension Plan Investment Board owned approximately 0.09% of Gartner worth $27,542,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Cary Street Partners Financial LLC acquired a new stake in Gartner in the 4th quarter valued at about $27,000. Olde Wealth Management LLC acquired a new stake in shares of Gartner during the 1st quarter worth approximately $42,000. GW&K Investment Management LLC increased its holdings in shares of Gartner by 210.8% during the 1st quarter. GW&K Investment Management LLC now owns 115 shares of the information technology services provider's stock worth $48,000 after buying an additional 78 shares during the last quarter. Wayfinding Financial LLC acquired a new stake in shares of Gartner during the 1st quarter worth approximately $55,000. Finally, Bayforest Capital Ltd increased its holdings in shares of Gartner by 527.3% during the 1st quarter. Bayforest Capital Ltd now owns 138 shares of the information technology services provider's stock worth $58,000 after buying an additional 116 shares during the last quarter. Institutional investors and hedge funds own 91.51% of the company's stock.

Analyst Upgrades and Downgrades

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

Insider Transactions at Gartner

In related news, Director Jose M. Gutierrez acquired 417 shares of the firm's stock in a transaction that occurred on Monday, August 18th. The shares were purchased 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 ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP John J. Rinello sold 105 shares of the business's stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $249.71, for a total transaction of $26,219.55. Following the sale, the senior vice president directly owned 3,225 shares in the company, valued at approximately $805,314.75. This represents 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 insiders.

Gartner Stock Performance

Shares of Gartner stock traded down $3.66 on Wednesday, reaching $247.25. 986,121 shares of the stock were exchanged, compared to its average volume of 1,766,302. Gartner, Inc. has a 1-year low of $223.65 and a 1-year high of $584.01. 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 business has a fifty day moving average price of $314.69 and a two-hundred day moving average price of $393.05. The firm 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 issued its quarterly earnings results on Tuesday, August 5th. The information technology services provider reported $3.53 earnings per share (EPS) for the quarter, topping 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 business had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.68 billion. During the same period in the previous year, the business posted $3.22 earnings per share. The business's revenue was up 5.7% compared to the same quarter last year. Gartner has set its FY 2025 guidance at 11.750- EPS. As a group, research analysts anticipate that Gartner, Inc. will post 12.5 earnings per share for the current fiscal year.

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.