Engineers Gate Manager LP Grows Holdings in Gartner, Inc. $IT

Key Points

• Engineers Gate Manager LP increased its Gartner stake by 2,257.8% in the second quarter, purchasing 69,991 additional shares and bringing its holdings to 73,091 shares worth approximately $9.47 million. Institutional investors collectively own 91.51% of Gartner.
• Gartner reported quarterly earnings of $4.37 per share, beating estimates of $3.76, while revenue reached $1.68 billion. However, revenue declined 0.6% year over year, and analysts expect full-year earnings of about $14.39 per share.
• Gartner shares opened at $170.42, while analysts maintained a generally cautious outlook with a consensus “Hold” rating and an average price target of $187.30. Insiders have sold 6,043 shares worth roughly $1.17 million over the past 90 days.

Engineers Gate Manager LP lifted its stake in shares of Gartner, Inc. (NYSE:IT - Free Report) by 2,257.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 73,091 shares of the information technology services provider's stock after buying an additional 69,991 shares during the quarter. Engineers Gate Manager LP owned approximately 0.12% of Gartner worth $9,474,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in IT. DV Equities LLC bought a new position in Gartner during the 4th quarter valued at $25,000. Entrust Financial LLC bought a new stake in shares of Gartner in the 4th quarter worth about $26,000. Bell Investment Advisors Inc increased its position in shares of Gartner by 75.5% in 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. Elyxium Wealth LLC acquired a new stake in shares of Gartner in the 4th quarter valued at about $28,000. Finally, Cassaday & Co Wealth Management LLC acquired a new stake in shares of Gartner in the 1st quarter valued at about $34,000. Institutional investors own 91.51% of the company's stock.

Gartner Trading Up 0.4%

NYSE:IT opened at $170.42 on Friday. The firm has a market capitalization of $10.76 billion, a P/E ratio of 15.28, a P/E/G ratio of 0.64 and a beta of 0.96. The business has a 50 day simple moving average of $167.29 and a 200 day simple moving average of $157.90. 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, Inc. has a 12-month low of $124.25 and a 12-month high of $265.85.

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 for the quarter, topping the consensus estimate of $3.76 by $0.61. Gartner had a return on equity of 525.46% and a net margin of 11.99%.The firm had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.65 billion. During the same period last year, the company earned $3.53 earnings per share. The firm'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. Equities research analysts predict that Gartner, Inc. will post 14.39 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on IT shares. Weiss Ratings upgraded Gartner from a "sell (d)" rating to a "sell (d+)" rating in a research note on Thursday, August 13th. Morgan Stanley set a $177.00 target price on Gartner in a report on Wednesday, August 5th. UBS Group reiterated a "neutral" rating and issued a $196.00 target price on shares of Gartner in a research report on Thursday. Zacks Research upgraded Gartner from a "hold" rating to a "strong-buy" rating in a report on Thursday, August 6th. Finally, The Goldman Sachs Group upped their price target on Gartner from $162.00 to $181.00 and gave the company a "neutral" rating in a research report on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, six have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $187.30.

Insider Activity

In other Gartner news, Director Anne Fuchs sold 860 shares of the business's stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $184.30, for a total transaction of $158,498.00. Following the completion of the transaction, the director directly owned 8,097 shares of the company's stock, valued at $1,492,277.10. The trade was a 9.60% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Akhil Jain sold 700 shares of the firm's stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $201.73, for a total transaction of $141,211.00. Following the completion of the sale, the executive vice president owned 8,130 shares in the company, valued at $1,640,064.90. The trade was a 7.93% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 6,043 shares of company stock worth $1,172,858 in the last 90 days. 2.60% of the stock is currently owned by insiders.

Gartner Profile

Gartner, Inc NYSE: IT is a global research and advisory company that provides independent insights, practical guidance and tools to help organizations make decisions about technology, business strategy and operations. Its clients include businesses, government agencies and other institutions across a wide range of industries and geographies.

The company's primary offerings include subscription-based research, analyst advice, benchmarking data, consulting services and executive programs.

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