Candriam S.C.A. Has $2.82 Million Stock Position in Gartner, Inc. $IT

Key Points

• Candriam S.C.A. has reduced its holdings in Gartner, Inc. by 13.1%, holding 6,710 shares worth approximately $2.82 million after selling 1,008 shares.
• Various investment firms have changed their ratings on Gartner, with Goldman Sachs lowering its price target from $535 to $457 while maintaining a "buy" recommendation.
• Gartner reported earnings of $3.53 per share, exceeding expectations, with revenues of $1.66 billion, marking a year-over-year increase of 5.7%.

Candriam S.C.A. lowered its holdings in shares of Gartner, Inc. (NYSE:IT - Free Report) by 13.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,710 shares of the information technology services provider's stock after selling 1,008 shares during the period. Candriam S.C.A.'s holdings in Gartner were worth $2,816,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. DAVENPORT & Co LLC grew its stake in Gartner by 11.5% in the first quarter. DAVENPORT & Co LLC now owns 921 shares of the information technology services provider's stock valued at $387,000 after acquiring an additional 95 shares during the period. HighPoint Advisor Group LLC grew its stake in Gartner by 3.6% in the first quarter. HighPoint Advisor Group LLC now owns 1,145 shares of the information technology services provider's stock valued at $482,000 after acquiring an additional 40 shares during the period. Three Seasons Wealth LLC acquired a new stake in Gartner in the fourth quarter valued at approximately $731,000. SG Americas Securities LLC grew its stake in Gartner by 3.6% in the first quarter. SG Americas Securities LLC now owns 42,389 shares of the information technology services provider's stock valued at $17,792,000 after acquiring an additional 1,484 shares during the period. Finally, Brighton Jones LLC acquired a new stake in Gartner in the fourth quarter valued at approximately $309,000. Institutional investors and hedge funds own 91.51% of the company's stock.

Insider Transactions at Gartner

In other news, Director Jose M. Gutierrez acquired 417 shares of the firm's stock in a transaction on Monday, August 18th. The stock was acquired at an average price of $239.80 per share, for a total transaction of $99,996.60. Following the completion of the acquisition, the director owned 2,080 shares in the company, valued at $498,784. This trade represents a 25.08% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 2.30% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have commented on IT shares. The Goldman Sachs Group reduced their price objective on Gartner from $535.00 to $457.00 and set a "buy" rating for the company in a research note on Wednesday, August 6th. UBS Group reissued a "neutral" rating and issued a $270.00 price objective (down previously from $480.00) on shares of Gartner in a research note on Wednesday, August 6th. BMO Capital Markets lowered their price target 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. Morgan Stanley lowered their price target on Gartner from $455.00 to $322.00 and set an "equal weight" rating for the company in a research report on Wednesday, August 6th. Finally, Wells Fargo & Company dropped their price target on Gartner from $345.00 to $225.00 and set an "underweight" rating on the stock in a report on Wednesday, August 6th. Three investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $369.25.

Gartner Price Performance

IT opened at $249.53 on Friday. The company has a debt-to-equity ratio of 1.61, a quick ratio of 1.11 and a current ratio of 1.11. The stock has a market capitalization of $18.90 billion, a PE ratio of 15.36 and a beta of 1.19. The stock's 50 day moving average price is $339.24 and its 200-day moving average price is $408.38. Gartner, Inc. has a 52-week low of $223.65 and a 52-week high of $584.01.

Gartner (NYSE:IT - Get Free Report) last announced its earnings results on Tuesday, August 5th. The information technology services provider reported $3.53 EPS for the quarter, beating analysts' consensus estimates of $3.38 by $0.15. The company had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.68 billion. Gartner had a return on equity of 82.63% and a net margin of 19.71%.The firm's revenue for the quarter was up 5.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.22 earnings per share. Gartner has set its FY 2025 guidance at 11.750- EPS. On average, equities research analysts predict that Gartner, Inc. will post 12.5 EPS for the current 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.

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