Financiere des Professionnels Fonds d investissement inc. Decreases Stock Holdings in Gartner, Inc. $IT

Key Points

• Financiere des Professionnels Fonds d’investissement inc. has reduced its stake in Gartner, Inc. by 44.4%, now holding 6,644 shares valued at approximately $2.69 million.
• Director Jose M. Gutierrez increased his holdings in Gartner by purchasing 417 shares, representing a 25.08% increase in his position.
• Gartner's latest quarterly earnings reported EPS of $3.53, exceeding estimates and reflecting a year-over-year revenue growth of 5.7% despite expectations of $1.68 billion.

Financiere des Professionnels Fonds d investissement inc. decreased its holdings in Gartner, Inc. (NYSE:IT - Free Report) by 44.4% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,644 shares of the information technology services provider's stock after selling 5,311 shares during the quarter. Financiere des Professionnels Fonds d investissement inc.'s holdings in Gartner were worth $2,686,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Czech National Bank raised its position in shares of Gartner by 6.6% in the 2nd quarter. Czech National Bank now owns 18,813 shares of the information technology services provider's stock worth $7,605,000 after purchasing an additional 1,170 shares during the last quarter. NBC Securities Inc. raised its position in Gartner by 3.2% in the 2nd quarter. NBC Securities Inc. now owns 3,452 shares of the information technology services provider's stock worth $1,395,000 after buying an additional 108 shares during the last quarter. Gallacher Capital Management LLC grew its stake in shares of Gartner by 17.6% during the 2nd quarter. Gallacher Capital Management LLC now owns 581 shares of the information technology services provider's stock valued at $235,000 after purchasing an additional 87 shares during the period. Kera Capital Partners Inc. bought a new stake in shares of Gartner during the 2nd quarter valued at about $236,000. Finally, AG2R LA Mondiale Gestion D Actifs bought a new stake in shares of Gartner during the 1st quarter valued at about $1,347,000. Hedge funds and other institutional investors own 91.51% of the company's stock.

Gartner Stock Performance

Shares of NYSE:IT traded up $3.53 during trading on Friday, hitting $256.55. The stock had a trading volume of 4,285,572 shares, compared to its average volume of 1,398,057. Gartner, Inc. has a 12-month low of $223.65 and a 12-month high of $584.01. The stock has a market capitalization of $19.43 billion, a price-to-earnings ratio of 15.79 and a beta of 1.20. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 1.61. The stock has a 50-day simple moving average of $278.51 and a two-hundred day simple moving average of $371.27.

Gartner (NYSE:IT - Get Free Report) last announced its quarterly earnings data 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 return on equity of 82.63% and a net margin of 19.71%.The firm had revenue of $1.66 billion during the quarter, compared to analysts' expectations of $1.68 billion. During the same period last year, the business posted $3.22 earnings per share. The company's revenue for the quarter was up 5.7% compared to the same quarter last year. Gartner has set its FY 2025 guidance at 11.750- EPS. On average, equities research analysts expect that Gartner, Inc. will post 12.5 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, SVP John J. Rinello sold 105 shares of the business's stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $249.71, for a total value of $26,219.55. Following the completion of the transaction, the senior vice president directly owned 3,225 shares in the company, valued at $805,314.75. The trade was a 3.15% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Jose M. Gutierrez purchased 417 shares of the company's stock in a transaction that occurred on Monday, August 18th. The shares were purchased at an average price of $239.80 per share, for a total transaction of $99,996.60. Following the transaction, the director owned 2,080 shares of the company's stock, valued at $498,784. This trade represents a 25.08% increase in their position. The disclosure for this purchase can be found here. Insiders own 2.30% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on IT shares. The Goldman Sachs Group cut their price objective on Gartner from $535.00 to $457.00 and set a "buy" rating for the company in a research note on Wednesday, August 6th. 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 report on Wednesday, August 6th. UBS Group reiterated a "neutral" rating and set a $270.00 target price (down from $480.00) on shares of Gartner in a research report on Wednesday, August 6th. Royal Bank Of Canada started coverage on Gartner in a report on Tuesday, September 9th. They set a "sector perform" rating and a $263.00 price target on the stock. Finally, Wolfe Research initiated coverage on Gartner in a report on Wednesday, September 3rd. They set a "peer perform" rating on the stock. Three analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $357.44.

Gartner Company 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.