Gartner, Inc. $IT Position Increased by Fifth Third Bancorp

Key Points

• Fifth Third Bancorp increased its Gartner stake by 476.1% in the first quarter, buying 25,332 additional shares to bring its total holdings to 30,653 shares worth about $4.85 million.
• Gartner reported quarterly earnings of $3.32 per share, topping analyst expectations, though revenue of $1.49 billion fell slightly short of forecasts and was down 1.5% year over year.
• Analyst sentiment remains cautious: Gartner has a Hold consensus rating, with a consensus price target of $173.10, while several firms recently cut their targets.

Fifth Third Bancorp lifted its stake in Gartner, Inc. (NYSE:IT - Free Report) by 476.1% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 30,653 shares of the information technology services provider's stock after purchasing an additional 25,332 shares during the quarter. Fifth Third Bancorp's holdings in Gartner were worth $4,854,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Capital International Investors boosted its position in Gartner by 28.3% during the 4th quarter. Capital International Investors now owns 4,004,093 shares of the information technology services provider's stock worth $1,010,153,000 after acquiring an additional 884,250 shares during the period. State Street Corp grew its stake in shares of Gartner by 2.8% in the 3rd quarter. State Street Corp now owns 3,510,206 shares of the information technology services provider's stock valued at $922,728,000 after buying an additional 96,809 shares in the last quarter. Independent Franchise Partners LLP increased its holdings in Gartner by 3.5% in the fourth quarter. Independent Franchise Partners LLP now owns 3,308,566 shares of the information technology services provider's stock worth $834,685,000 after buying an additional 112,439 shares during the last quarter. Morgan Stanley raised its position in Gartner by 5.8% during the fourth quarter. Morgan Stanley now owns 2,495,575 shares of the information technology services provider's stock valued at $629,585,000 after acquiring an additional 136,233 shares in the last quarter. Finally, AQR Capital Management LLC lifted its stake in Gartner by 51.9% in the fourth quarter. AQR Capital Management LLC now owns 1,892,004 shares of the information technology services provider's stock valued at $477,315,000 after acquiring an additional 646,052 shares during the last quarter. Institutional investors and hedge funds own 91.51% of the company's stock.

Gartner Price Performance

NYSE:IT opened at $140.45 on Friday. Gartner, Inc. has a 52-week low of $124.25 and a 52-week high of $361.20. The company has a market cap of $9.40 billion, a P/E ratio of 13.88, a P/E/G ratio of 0.79 and a beta of 0.97. The company has a debt-to-equity ratio of 46.98, a quick ratio of 0.94 and a current ratio of 0.94. The stock's 50-day simple moving average is $145.97 and its 200 day simple moving average is $167.07.

Gartner (NYSE:IT - Get Free Report) last released its earnings results on Tuesday, May 5th. The information technology services provider reported $3.32 earnings per share for the quarter, beating the consensus estimate of $2.99 by $0.33. The business had revenue of $1.49 billion during the quarter, compared to analysts' expectations of $1.51 billion. Gartner had a net margin of 11.44% and a return on equity of 161.39%. The firm's revenue was down 1.5% on a year-over-year basis. During the same period last year, the business earned $2.98 earnings per share. Gartner has set its FY 2026 guidance at 13.250- EPS. As a group, sell-side analysts forecast that Gartner, Inc. will post 13.61 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the stock. Weiss Ratings upgraded shares of Gartner from a "sell (d)" rating to a "sell (d+)" rating in a report on Wednesday. Barclays lowered their price target on Gartner from $180.00 to $150.00 and set an "equal weight" rating on the stock in a report on Friday, April 10th. Morgan Stanley dropped their price objective on Gartner from $183.00 to $173.00 and set an "equal weight" rating on the stock in a research note on Friday, July 10th. The Goldman Sachs Group set a $162.00 price objective on shares of Gartner in a research report on Tuesday, May 5th. Finally, Royal Bank Of Canada lowered their target price on shares of Gartner from $175.00 to $160.00 and set a "sector perform" rating on the stock in a research note on Wednesday, May 6th. Two equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, Gartner has an average rating of "Hold" and a consensus price target of $173.10.

About Gartner

Gartner, Inc is a global research and advisory firm that provides insights, advice and tools for leaders in IT, finance, HR, customer service and other business functions. Founded in 1979 and headquartered in Stamford, Connecticut, Gartner specializes in helping organizations make informed decisions about technology, operations and strategy through a combination of published research, advisory services, consulting, executive programs and events.

The company's offerings include proprietary research reports, market forecasts, and analytical frameworks that are widely used by technology buyers and vendors.

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