Federation des caisses Desjardins du Quebec Boosts Position in Gartner, Inc. $IT

Key Points

• The Federation des caisses Desjardins du Quebec increased its ownership in Gartner, Inc. by 38.1% during the 1st quarter, acquiring an additional 2,388 shares for a total of 8,662 shares worth approximately $3.637 million.
• Analysts have recently downgraded Gartner's price targets, with Goldman Sachs lowering theirs from $535 to $457, and Wells Fargo setting a new target of $225, reflecting decreased confidence in the stock's performance.
• Gartner reported a quarterly EPS of $3.53, surpassing estimates, but its revenue of $1.66 billion fell short of expectations by $20 million.

Federation des caisses Desjardins du Quebec grew its stake in Gartner, Inc. (NYSE:IT - Free Report) by 38.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,662 shares of the information technology services provider's stock after acquiring an additional 2,388 shares during the period. Federation des caisses Desjardins du Quebec's holdings in Gartner were worth $3,637,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of IT. Vanguard Group Inc. boosted its holdings in shares of Gartner by 1.8% in the first quarter. Vanguard Group Inc. now owns 9,433,449 shares of the information technology services provider's stock valued at $3,959,596,000 after purchasing an additional 164,810 shares during the period. JPMorgan Chase & Co. raised its position in Gartner by 20.5% during the 1st quarter. JPMorgan Chase & Co. now owns 1,245,563 shares of the information technology services provider's stock valued at $522,813,000 after purchasing an additional 211,842 shares in the last quarter. T. Rowe Price Investment Management Inc. lifted its holdings in shares of Gartner by 692.2% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 1,066,732 shares of the information technology services provider's stock worth $447,751,000 after buying an additional 932,077 shares during the period. Northern Trust Corp lifted its holdings in shares of Gartner by 11.0% in the 1st quarter. Northern Trust Corp now owns 1,006,655 shares of the information technology services provider's stock worth $422,533,000 after buying an additional 99,822 shares during the period. Finally, Goldman Sachs Group Inc. grew its position in shares of Gartner by 9.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 956,223 shares of the information technology services provider's stock worth $401,365,000 after buying an additional 82,307 shares in the last quarter. 91.51% of the stock is owned by hedge funds and other institutional investors.

Gartner Stock Up 3.6%

NYSE:IT traded up $8.42 during midday trading on Thursday, reaching $241.01. 1,381,519 shares of the stock traded hands, compared to its average volume of 1,311,188. The stock has a market capitalization of $18.25 billion, a PE ratio of 14.83 and a beta of 1.20. Gartner, Inc. has a 12-month low of $223.65 and a 12-month high of $584.01. The company has a debt-to-equity ratio of 1.61, a quick ratio of 1.11 and a current ratio of 1.11. The business has a 50-day moving average of $295.39 and a two-hundred day moving average of $382.12.

Gartner (NYSE:IT - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The information technology services provider reported $3.53 earnings per share (EPS) for the quarter, topping 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 business had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.68 billion. During the same period in the previous year, the company earned $3.22 earnings per share. The business's revenue for the quarter was up 5.7% on a year-over-year basis. Gartner has set its FY 2025 guidance at 11.750- EPS. On average, equities analysts forecast that Gartner, Inc. will post 12.5 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently weighed in on IT. Barclays decreased their price objective on Gartner from $475.00 to $320.00 and set an "overweight" rating for the company in a report on Wednesday, August 6th. Morgan Stanley cut their target price on shares of Gartner from $455.00 to $322.00 and set an "equal weight" rating on the stock in a research report on Wednesday, August 6th. BMO Capital Markets cut their price objective on shares of Gartner from $409.00 to $272.00 and set a "market perform" rating on the stock in a report on Wednesday, August 6th. Wells Fargo & Company reduced their price objective on shares of Gartner from $345.00 to $225.00 and set an "underweight" rating for the company in a research note on Wednesday, August 6th. Finally, UBS Group restated a "neutral" rating and set a $270.00 target price (down previously from $480.00) on shares of Gartner in a report on Wednesday, August 6th. Three investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Gartner has an average rating of "Hold" and a consensus target price of $357.44.

Insider Buying and Selling at Gartner

In other Gartner news, Director Jose M. Gutierrez bought 417 shares of Gartner stock in a transaction that occurred on Monday, August 18th. The shares were bought at an average cost of $239.80 per share, with a total value of $99,996.60. Following the transaction, the director directly owned 2,080 shares of the company's stock, valued at approximately $498,784. This represents a 25.08% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP John J. Rinello sold 105 shares of the firm's stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $249.71, for a total value of $26,219.55. Following the completion of the sale, the senior vice president directly owned 3,225 shares of the company's stock, valued at approximately $805,314.75. This represents a 3.15% decrease in their position. The disclosure for this sale can be found here. 2.30% of the stock is owned by insiders.

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.