Gartner, Inc. $IT Position Decreased by AlphaQuest LLC

Key Points

• AlphaQuest LLC reduced its stake in Gartner, Inc. by 30.8% in the first quarter, now holding 4,145 shares valued at $1.74 million.
• Several institutional investors have increased their holdings in Gartner, with notable increases from T. Rowe Price Investment Management, which raised its position by 692.2%.
• Analyst ratings have generally decreased for Gartner, with price targets cut significantly by firms like Goldman Sachs and Morgan Stanley, indicating a cautious outlook on the stock.

AlphaQuest LLC reduced its holdings in shares of Gartner, Inc. (NYSE:IT - Free Report) by 30.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,145 shares of the information technology services provider's stock after selling 1,846 shares during the quarter. AlphaQuest LLC's holdings in Gartner were worth $1,740,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in Gartner by 1.8% during the 1st 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 acquiring an additional 164,810 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of Gartner by 20.5% in 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 position in shares of Gartner by 692.2% during the first 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 purchasing an additional 932,077 shares during the last quarter. Northern Trust Corp grew its stake in Gartner by 11.0% in the first quarter. Northern Trust Corp now owns 1,006,655 shares of the information technology services provider's stock worth $422,533,000 after purchasing an additional 99,822 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its stake in Gartner by 9.4% in the first quarter. Goldman Sachs Group Inc. now owns 956,223 shares of the information technology services provider's stock worth $401,365,000 after purchasing an additional 82,307 shares in the last quarter. Institutional investors own 91.51% of the company's stock.

Insider Transactions at Gartner

In related news, Director Jose M. Gutierrez purchased 417 shares of Gartner stock in a transaction dated Monday, August 18th. The stock was bought at an average cost of $239.80 per share, with a total value of $99,996.60. Following the purchase, the director owned 2,080 shares in the company, valued at approximately $498,784. The trade was a 25.08% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, 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 transaction, the senior vice president owned 3,225 shares of the company's stock, valued at $805,314.75. This trade represents a 3.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.60% of the stock is owned by insiders.

Wall Street Analyst Weigh In

IT has been the topic of several research reports. UBS Group restated a "neutral" rating and set a $270.00 price objective (down previously from $480.00) on shares of Gartner in a research note on Wednesday, August 6th. Morgan Stanley reduced their price objective on Gartner from $455.00 to $322.00 and set an "equal weight" rating on the stock in a research note on Wednesday, August 6th. Wells Fargo & Company reduced their price target on shares of Gartner from $345.00 to $225.00 and set an "underweight" rating on the stock in a research report on Wednesday, August 6th. The Goldman Sachs Group lowered their price objective on shares of Gartner from $535.00 to $457.00 and set a "buy" rating for the company in a research report on Wednesday, August 6th. Finally, Barclays dropped their price target on Gartner from $475.00 to $320.00 and set an "overweight" rating on the stock in a research report on Wednesday, August 6th. Three equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, Gartner currently has a consensus rating of "Hold" and a consensus price target of $369.25.

Gartner Stock Performance

Shares of IT traded up $3.07 during mid-day trading on Wednesday, reaching $246.20. 1,037,281 shares of the company's stock traded hands, compared to its average volume of 838,062. 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's 50-day moving average price is $332.66 and its 200-day moving average price is $403.44. The stock has a market capitalization of $18.65 billion, a P/E ratio of 15.15 and a beta of 1.19. Gartner, Inc. has a 12 month low of $223.65 and a 12 month high of $584.01.

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 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 for the quarter, compared to analysts' expectations of $1.68 billion. During the same period last year, the firm earned $3.22 EPS. The firm's revenue was up 5.7% compared to the same quarter last year. Gartner has set its FY 2025 guidance at 11.750- EPS. Equities analysts predict that Gartner, Inc. will post 12.5 earnings per share for the current year.

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.