Fayez Sarofim & Co Has $147.28 Million Position in Gartner, Inc. (NYSE:IT)

Key Points

• Fayez Sarofim & Co has increased its stake in Gartner, Inc. by 3.7%, owning approximately $147.28 million, with a total of 350,893 shares as of the latest SEC filing.
• Analysts have recently downgraded their price targets for Gartner, with Morgan Stanley lowering it from $455 to $322, reflecting a cautious outlook on the company's performance.
• Gartner reported an earnings per share of $3.53 for the last quarter, exceeding analyst expectations, but its revenue was slightly below estimates at $1.66 billion compared to a forecast of $1.68 billion.

Fayez Sarofim & Co boosted its stake in shares of Gartner, Inc. (NYSE:IT - Free Report) by 3.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 350,893 shares of the information technology services provider's stock after acquiring an additional 12,568 shares during the quarter. Fayez Sarofim & Co owned 0.46% of Gartner worth $147,284,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Cary Street Partners Financial LLC acquired a new position in Gartner during the fourth quarter worth $27,000. Itau Unibanco Holding S.A. increased its stake in shares of Gartner by 453.3% in the fourth quarter. Itau Unibanco Holding S.A. now owns 83 shares of the information technology services provider's stock valued at $40,000 after buying an additional 68 shares in the last quarter. Olde Wealth Management LLC acquired a new stake in shares of Gartner in the first quarter valued at $42,000. GW&K Investment Management LLC increased its stake in shares of Gartner by 210.8% in the first quarter. GW&K Investment Management LLC now owns 115 shares of the information technology services provider's stock valued at $48,000 after buying an additional 78 shares in the last quarter. Finally, Wayfinding Financial LLC acquired a new stake in shares of Gartner in the first quarter valued at $55,000. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Gartner Price Performance

Shares of IT stock opened at $243.91 on Thursday. The stock has a 50-day moving average price of $383.65 and a 200 day moving average price of $432.96. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 1.64. The firm has a market cap of $18.77 billion, a price-to-earnings ratio of 15.01 and a beta of 1.19. Gartner, Inc. has a 12 month low of $231.00 and a 12 month high of $584.01.

Gartner (NYSE:IT - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The information technology services provider reported $3.53 EPS for the quarter, topping analysts' consensus estimates of $3.38 by $0.15. The firm had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.68 billion. Gartner had a return on equity of 86.19% and a net margin of 19.71%. The company's revenue was up 5.7% on a year-over-year basis. During the same period last year, the company earned $3.22 earnings per share. Research analysts expect that Gartner, Inc. will post 12.5 EPS for the current year.

Insiders Place Their Bets

In other Gartner news, CFO Craig Safian sold 3,415 shares of the firm's stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $450.17, for a total transaction of $1,537,330.55. Following the transaction, the chief financial officer owned 77,890 shares in the company, valued at approximately $35,063,741.30. This trade represents a 4.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Akhil Jain sold 625 shares of the firm's stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $450.00, for a total value of $281,250.00. Following the transaction, the executive vice president owned 6,548 shares in the company, valued at approximately $2,946,600. This trade represents a 8.71% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 4,578 shares of company stock worth $2,060,191. Insiders own 2.30% of the company's stock.

Analyst Ratings Changes

IT has been the subject of a number of research reports. Morgan Stanley lowered their target price on Gartner from $455.00 to $322.00 and set an "equal weight" rating for the company in a research note on Wednesday. BMO Capital Markets lowered their target price on Gartner from $409.00 to $272.00 and set a "market perform" rating for the company in a research note on Wednesday. The Goldman Sachs Group lowered their target price on Gartner from $535.00 to $457.00 and set a "buy" rating for the company in a research note on Wednesday. UBS Group restated a "neutral" rating and issued a $270.00 target price (down from $480.00) on shares of Gartner in a research note on Wednesday. Finally, Wells Fargo & Company lowered their target price on Gartner from $345.00 to $225.00 and set an "underweight" rating for the company in a research note on Wednesday. One research analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat, Gartner currently has a consensus rating of "Hold" and a consensus price target of $369.25.

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.

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