Gartner, Inc. $IT Shares Sold by Findlay Park Partners LLP

Key Points

• Findlay Park Partners LLP reduced its stake in Gartner, Inc. by 19.6% in the first quarter, now holding 432,921 shares worth approximately $181.7 million.
• Several analysts have downgraded their price targets on Gartner, with UBS Group setting a new target of $270.00, down from $480.00.
• Gartner reported a quarterly earnings per share (EPS) of $3.53, exceeding expectations, but its revenue of $1.66 billion fell short of the $1.68 billion estimate.

Findlay Park Partners LLP cut its stake in shares of Gartner, Inc. (NYSE:IT - Free Report) by 19.6% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 432,921 shares of the information technology services provider's stock after selling 105,400 shares during the quarter. Gartner makes up approximately 1.9% of Findlay Park Partners LLP's holdings, making the stock its 22nd biggest holding. Findlay Park Partners LLP owned about 0.56% of Gartner worth $181,714,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of IT. Cary Street Partners Financial LLC purchased a new position in shares of Gartner during the fourth quarter worth approximately $27,000. Itau Unibanco Holding S.A. increased its position in shares of Gartner by 453.3% during the fourth quarter. Itau Unibanco Holding S.A. now owns 83 shares of the information technology services provider's stock worth $40,000 after acquiring an additional 68 shares during the period. Olde Wealth Management LLC purchased a new position in shares of Gartner during the first quarter worth approximately $42,000. GW&K Investment Management LLC increased its position in shares of Gartner by 210.8% during the first quarter. GW&K Investment Management LLC now owns 115 shares of the information technology services provider's stock worth $48,000 after acquiring an additional 78 shares during the period. Finally, Wayfinding Financial LLC purchased a new position in shares of Gartner during the first quarter worth approximately $55,000. 91.51% of the stock is owned by hedge funds and other institutional investors.

Gartner Stock Up 0.4%

NYSE:IT traded up $1.07 during midday trading on Thursday, reaching $247.43. 881,773 shares of the stock traded hands, compared to its average volume of 1,866,382. Gartner, Inc. has a 12-month low of $223.65 and a 12-month high of $584.01. The business has a 50-day moving average of $326.58 and a two-hundred day moving average of $400.42. 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 stock has a market capitalization of $18.74 billion, a PE ratio of 15.23 and a beta of 1.19.

Gartner (NYSE:IT - Get Free Report) last posted its earnings results on Tuesday, August 5th. The information technology services provider reported $3.53 EPS for the quarter, beating analysts' consensus estimates of $3.38 by $0.15. Gartner had a net margin of 19.71% and a return on equity of 82.63%. The company had revenue of $1.66 billion during the quarter, compared to analysts' expectations of $1.68 billion. During the same quarter in the prior year, the company posted $3.22 earnings per share. Gartner'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 analysts forecast 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 stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $249.71, for a total transaction of $26,219.55. Following the completion of the sale, the senior vice president owned 3,225 shares of the company's stock, valued at $805,314.75. This represents a 3.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Jose M. Gutierrez bought 417 shares of the firm's stock in a transaction that occurred on Monday, August 18th. The shares were purchased 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 $498,784. The trade was a 25.08% increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 2.30% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on IT shares. UBS Group reaffirmed 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. Wells Fargo & Company dropped their price objective on shares of Gartner from $345.00 to $225.00 and set an "underweight" rating on the stock in a research note on Wednesday, August 6th. Barclays dropped their price objective on shares of Gartner from $475.00 to $320.00 and set an "overweight" rating on the stock in a research note on Wednesday, August 6th. The Goldman Sachs Group dropped their price objective on shares of Gartner from $535.00 to $457.00 and set a "buy" rating on the stock in a research note on Wednesday, August 6th. Finally, Morgan Stanley dropped their price objective on shares of Gartner from $455.00 to $322.00 and set an "equal weight" rating on the stock in a research note on Wednesday, August 6th. Three investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price 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.