Diamond Hill Capital Management LLC Investment Advisor Invests $46.75 Million in Gartner, Inc. $IT

Key Points

• Diamond Hill Capital Management acquired 360,635 Gartner shares worth approximately $46.75 million, representing about 0.54% of the company. Institutional investors collectively own 91.51% of Gartner.
• Gartner exceeded quarterly expectations with adjusted EPS of $4.37 versus the $3.76 consensus and revenue of $1.68 billion, though revenue declined 0.6% year over year.
• Analysts maintain a consensus “Hold” rating with an average price target of $185.50, while recent targets range from $164 to $205. Gartner shares opened at $181.06, well below their 52-week high of $265.85.

Diamond Hill Capital Management LLC Investment Advisor acquired a new stake in Gartner, Inc. (NYSE:IT - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 360,635 shares of the information technology services provider's stock, valued at approximately $46,746,000. Diamond Hill Capital Management LLC Investment Advisor owned about 0.54% of Gartner at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Physician Wealth Advisors Inc. raised its position in Gartner by 143.9% during the fourth quarter. Physician Wealth Advisors Inc. now owns 100 shares of the information technology services provider's stock worth $25,000 after acquiring an additional 59 shares in the last quarter. DV Equities LLC bought a new position in shares of Gartner in the 4th quarter valued at about $25,000. Rakuten Securities Inc. grew its position in shares of Gartner by 1,980.0% in the 4th quarter. Rakuten Securities Inc. now owns 104 shares of the information technology services provider's stock valued at $26,000 after acquiring an additional 99 shares during the period. Entrust Financial LLC acquired a new position in shares of Gartner during the 4th quarter worth about $26,000. Finally, Bell Investment Advisors Inc increased its stake in shares of Gartner by 75.5% during the 1st quarter. Bell Investment Advisors Inc now owns 172 shares of the information technology services provider's stock worth $27,000 after purchasing an additional 74 shares during the last quarter. 91.51% of the stock is owned by institutional investors.

Gartner Stock Performance

NYSE IT opened at $181.06 on Monday. The stock has a market cap of $11.43 billion, a PE ratio of 16.24, a P/E/G ratio of 0.60 and a beta of 0.94. The company has a debt-to-equity ratio of 46.98, a quick ratio of 0.88 and a current ratio of 0.88. The firm has a 50-day moving average of $148.05 and a 200-day moving average of $155.79. Gartner, Inc. has a 52-week low of $124.25 and a 52-week high of $265.85.

Gartner (NYSE:IT - Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The information technology services provider reported $4.37 EPS for the quarter, beating analysts' consensus estimates of $3.76 by $0.61. The business had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.65 billion. Gartner had a net margin of 11.99% and a return on equity of 525.46%. Gartner's quarterly 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. On average, sell-side analysts anticipate that Gartner, Inc. will post 14.44 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on IT. Royal Bank Of Canada upped their target price on shares of Gartner from $160.00 to $164.00 and gave the company a "sector perform" rating in a report on Wednesday, August 5th. UBS Group lifted their price target on Gartner from $164.00 to $196.00 and gave the stock a "neutral" rating in a report on Wednesday, August 5th. Zacks Research raised Gartner from a "hold" rating to a "strong-buy" rating in a research report on Thursday, August 6th. Truist Financial set a $205.00 price objective on Gartner in a research note on Wednesday, August 5th. Finally, The Goldman Sachs Group raised their price objective on Gartner from $162.00 to $181.00 and gave the company a "neutral" rating in a research report on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $185.50.

Insider Buying and Selling

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

About Gartner

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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