Voleon Capital Management LP Has $10.58 Million Stock Position in Gartner, Inc. $IT

Key Points

• Voleon Capital Management LP increased its stake in Gartner, Inc. by 11.0%, now owning 25,200 shares valued at approximately $10.58 million.
• Gartner recently reported $3.53 earnings per share for the quarter, exceeding analysts' estimates, with a year-over-year revenue increase of 5.7%.
• Analysts have revised price targets for Gartner, with Wells Fargo reducing theirs from $345.00 to $225.00, indicating a trend of cautious outlook in the market.

Voleon Capital Management LP lifted its holdings in shares of Gartner, Inc. (NYSE:IT - Free Report) by 11.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 25,200 shares of the information technology services provider's stock after acquiring an additional 2,494 shares during the quarter. Gartner makes up about 0.8% of Voleon Capital Management LP's portfolio, making the stock its 22nd biggest holding. Voleon Capital Management LP's holdings in Gartner were worth $10,577,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in IT. Brighton Jones LLC bought a new position in shares of Gartner during the 4th quarter worth approximately $309,000. Cary Street Partners Financial LLC bought a new position in shares of Gartner during the 4th quarter worth approximately $27,000. Ensign Peak Advisors Inc boosted its stake in shares of Gartner by 1.2% during the 4th quarter. Ensign Peak Advisors Inc now owns 31,927 shares of the information technology services provider's stock worth $15,468,000 after acquiring an additional 367 shares during the period. Focus Partners Wealth boosted its stake in shares of Gartner by 5.0% during the 4th quarter. Focus Partners Wealth now owns 3,348 shares of the information technology services provider's stock worth $1,694,000 after acquiring an additional 159 shares during the period. Finally, Junto Capital Management LP bought a new position in shares of Gartner during the 4th quarter worth approximately $33,983,000. 91.51% of the stock is currently owned by institutional investors.

Gartner Price Performance

NYSE IT traded up $6.28 during midday trading on Friday, hitting $247.40. The company had a trading volume of 2,214,210 shares, compared to its average volume of 1,281,129. The company has a market capitalization of $18.74 billion, a PE ratio of 15.22 and a beta of 1.20. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 1.61. The firm has a 50-day moving average price of $292.34 and a 200-day moving average price of $379.54. Gartner, Inc. has a twelve month low of $223.65 and a twelve 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 earnings per share for the quarter, beating the consensus estimate of $3.38 by $0.15. The firm had revenue of $1.66 billion during the quarter, compared to analysts' expectations of $1.68 billion. Gartner had a return on equity of 82.63% and a net margin of 19.71%.The company's quarterly revenue was up 5.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.22 EPS. Gartner has set its FY 2025 guidance at 11.750- EPS. As a group, analysts anticipate that Gartner, Inc. will post 12.5 earnings per share for the current fiscal year.

Insider Buying and Selling at Gartner

In other Gartner news, SVP John J. Rinello sold 105 shares of Gartner stock in a transaction on 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 transaction, the senior vice president directly owned 3,225 shares of the company's stock, valued at $805,314.75. The trade was a 3.15% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jose M. Gutierrez acquired 417 shares of the company's stock in a transaction on 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 completion of the acquisition, the director directly owned 2,080 shares in the company, valued at approximately $498,784. This represents a 25.08% increase in their ownership of the stock. The disclosure for this purchase can be found here. 2.30% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on IT. BMO Capital Markets reduced their price target on Gartner from $409.00 to $272.00 and set a "market perform" rating for the company in a research note on Wednesday, August 6th. Wolfe Research began coverage on Gartner in a research note on Wednesday, September 3rd. They issued a "peer perform" rating for the company. Barclays reduced their price target on Gartner from $475.00 to $320.00 and set an "overweight" rating for the company in a research note on Wednesday, August 6th. Morgan Stanley reduced their price target on Gartner from $455.00 to $322.00 and set an "equal weight" rating for the company in a research note on Wednesday, August 6th. Finally, UBS Group restated a "neutral" rating and issued a $270.00 price target (down from $480.00) on shares of Gartner in a research note on Wednesday, August 6th. Three equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $357.44.

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.