Credit Agricole S A Sells 9,820 Shares of Gartner, Inc. $IT

Key Points

• Credit Agricole S A has reduced its holdings in Gartner, Inc. by 27.4%, owning 26,062 shares valued at approximately $10.94 million after selling 9,820 shares.
• Analysts have significantly lowered their price targets for Gartner, with UBS setting a new target of $270 from a previous $480, reflecting a trend of downward adjustments across several firms.
• Gartner reported $3.53 earnings per share for the latest quarter, exceeding expectations, while its revenue increased 5.7% year-over-year, totaling $1.66 billion.

Credit Agricole S A cut its position in Gartner, Inc. (NYSE:IT - Free Report) by 27.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 26,062 shares of the information technology services provider's stock after selling 9,820 shares during the quarter. Credit Agricole S A's holdings in Gartner were worth $10,939,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of IT. Brighton Jones LLC bought a new stake in Gartner in the 4th quarter valued at $309,000. Jump Financial LLC boosted its holdings in Gartner by 86.1% in the 4th quarter. Jump Financial LLC now owns 1,446 shares of the information technology services provider's stock valued at $701,000 after purchasing an additional 669 shares during the period. NewEdge Advisors LLC boosted its holdings in Gartner by 3.4% in the 4th quarter. NewEdge Advisors LLC now owns 4,285 shares of the information technology services provider's stock valued at $2,076,000 after purchasing an additional 142 shares during the period. Marshall Wace LLP boosted its holdings in Gartner by 701.5% in the 4th quarter. Marshall Wace LLP now owns 7,574 shares of the information technology services provider's stock valued at $3,669,000 after purchasing an additional 6,629 shares during the period. Finally, First Trust Advisors LP boosted its holdings in Gartner by 108.5% in the 4th quarter. First Trust Advisors LP now owns 45,772 shares of the information technology services provider's stock valued at $22,175,000 after purchasing an additional 23,815 shares during the period. 91.51% of the stock is owned by institutional investors.

Insider Transactions at Gartner

In other news, Director Jose M. Gutierrez purchased 417 shares of the business's stock in a transaction that occurred on Monday, August 18th. The stock was purchased at an average cost of $239.80 per share, with a total value of $99,996.60. Following the acquisition, the director directly owned 2,080 shares of the company's stock, valued at approximately $498,784. This trade represents a 25.08% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 2.30% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Wells Fargo & Company reduced their price target on shares of Gartner from $345.00 to $225.00 and set an "underweight" 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 from $480.00) on shares of Gartner in a report on Wednesday, August 6th. BMO Capital Markets reduced their price target on shares of Gartner from $409.00 to $272.00 and set a "market perform" rating for the company in a report on Wednesday, August 6th. The Goldman Sachs Group decreased their target price on shares of Gartner from $535.00 to $457.00 and set a "buy" rating on the stock in a research report on Wednesday, August 6th. Finally, Barclays lowered their target price 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, four have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Gartner has an average rating of "Hold" and an average target price of $369.25.

Gartner Price Performance

NYSE:IT traded up $4.87 during mid-day trading on Friday, hitting $249.53. The company's stock had a trading volume of 1,274,220 shares, compared to its average volume of 1,710,957. Gartner, Inc. has a fifty-two week low of $223.65 and a fifty-two week 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 company has a market capitalization of $18.90 billion, a price-to-earnings ratio of 15.36 and a beta of 1.19. The stock has a fifty day moving average of $339.24 and a 200-day moving average of $407.45.

Gartner (NYSE:IT - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The information technology services provider reported $3.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.38 by $0.15. Gartner had a net margin of 19.71% and a return on equity of 82.63%. The firm had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.68 billion. During the same period last year, the firm posted $3.22 EPS. The firm's quarterly 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, equities analysts forecast that Gartner, Inc. will post 12.5 EPS for the current fiscal year.

Gartner 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.