Empowered Funds LLC Makes New $2.75 Million Investment in Gartner, Inc. $IT

Key Points

• Empowered Funds LLC acquired 21,186 Gartner shares during the second quarter, worth approximately $2.75 million. Institutional investors collectively own 91.51% of the company.
• Analysts maintain a mixed outlook, with Gartner carrying a consensus “Hold” rating and an average price target of $187.30. Recent target prices range from $164 to $206.
• Gartner exceeded quarterly expectations, reporting $4.37 in EPS versus the $3.76 consensus and $1.68 billion in revenue, though revenue declined 0.6% year over year. Shares opened at $186.84, while insiders sold more than $1.17 million of stock over the past three months.

Empowered Funds LLC acquired a new stake in Gartner, Inc. (NYSE:IT - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 21,186 shares of the information technology services provider's stock, valued at approximately $2,746,000.

Other hedge funds also recently made changes to their positions in the company. Bamco Inc. NY purchased a new position in shares of Gartner in the second quarter valued at $985,243,000. BlackRock Inc. purchased a new stake in Gartner during the 2nd quarter worth $676,246,000. Capital International Investors increased its stake in Gartner by 28.3% during the 4th quarter. Capital International Investors now owns 4,004,093 shares of the information technology services provider's stock worth $1,010,153,000 after buying an additional 884,250 shares during the period. State Street Corp lifted its holdings in Gartner by 2.8% in the 3rd quarter. State Street Corp now owns 3,510,206 shares of the information technology services provider's stock worth $922,728,000 after buying an additional 96,809 shares in the last quarter. Finally, Independent Franchise Partners LLP lifted its holdings in Gartner by 3.5% in the 4th quarter. Independent Franchise Partners LLP now owns 3,308,566 shares of the information technology services provider's stock worth $834,685,000 after buying an additional 112,439 shares in the last quarter. Hedge funds and other institutional investors own 91.51% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on IT shares. Royal Bank Of Canada raised their target price on Gartner from $160.00 to $164.00 and gave the company a "sector perform" rating in a research note on Wednesday, August 5th. Zacks Research upgraded Gartner from a "hold" rating to a "strong-buy" rating in a research note on Thursday, August 6th. BMO Capital Markets reduced their price target on Gartner from $214.00 to $206.00 and set a "market perform" rating for the company in a report on Tuesday, August 18th. UBS Group raised their price objective on Gartner from $164.00 to $196.00 and gave the company a "neutral" rating in a research note on Wednesday, August 5th. Finally, Weiss Ratings upgraded Gartner from a "sell (d)" rating to a "sell (d+)" rating in a report on Thursday, August 13th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, Gartner presently has a consensus rating of "Hold" and a consensus price target of $187.30.

Gartner Price Performance

Shares of IT stock opened at $186.84 on Thursday. The firm has a fifty day moving average of $161.57 and a two-hundred day moving average of $156.95. The firm has a market cap of $11.80 billion, a P/E ratio of 16.76, a P/E/G ratio of 0.66 and a beta of 0.96. Gartner, Inc. has a 1-year low of $124.25 and a 1-year high of $265.85. The company has a debt-to-equity ratio of 46.98, a current ratio of 0.88 and a quick ratio of 0.88.

Gartner (NYSE:IT - Get Free Report) last issued its earnings results on Tuesday, August 4th. The information technology services provider reported $4.37 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.76 by $0.61. Gartner had a net margin of 11.99% and a return on equity of 525.46%. The business had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.65 billion. During the same quarter in the prior year, the business posted $3.53 EPS. The company's revenue for the quarter was down .6% on a year-over-year basis. Gartner has set its FY 2026 guidance at 14.000- EPS. As a group, research analysts anticipate that Gartner, Inc. will post 14.42 earnings per share for the current fiscal year.

Insider Transactions at Gartner

In related news, EVP Akhil Jain sold 700 shares of the business's stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $201.73, for a total value of $141,211.00. Following the completion of the sale, the executive vice president directly owned 8,130 shares of the company's stock, valued at $1,640,064.90. The trade was a 7.93% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Robin B. Kranich sold 3,278 shares of the company's stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $196.50, for a total value of $644,127.00. Following the sale, the executive vice president owned 20,358 shares in the company, valued at $4,000,347. The trade was a 13.87% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 6,043 shares of company stock valued at $1,172,858 in the last three months. Corporate insiders own 2.60% of the company's stock.

Gartner Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source