BNP Paribas Financial Markets Boosts Stock Position in Gartner, Inc. $IT

Key Points

• BNP Paribas Financial Markets has increased its stake in Gartner, Inc. by 13.1%, now owning 441,757 shares valued at approximately $185 million.
• Major investors like Vanguard Group, JPMorgan Chase, and T. Rowe Price also boosted their holdings in Gartner during the first quarter, reflecting strong institutional interest with 91.51% of the stock held by institutional investors.
• Wall Street analysts have significantly lowered their price targets for Gartner, with a consensus rating of "Hold" and an average target price of $369.25.

BNP Paribas Financial Markets grew its stake in Gartner, Inc. (NYSE:IT - Free Report) by 13.1% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 441,757 shares of the information technology services provider's stock after buying an additional 51,285 shares during the quarter. BNP Paribas Financial Markets owned 0.58% of Gartner worth $185,423,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of IT. Cary Street Partners Financial LLC purchased a new position in Gartner during the fourth quarter valued at approximately $27,000. Itau Unibanco Holding S.A. grew its stake in shares of Gartner by 453.3% during the 4th quarter. Itau Unibanco Holding S.A. now owns 83 shares of the information technology services provider's stock worth $40,000 after purchasing an additional 68 shares during the period. Olde Wealth Management LLC purchased a new position in shares of Gartner during the 1st quarter valued at approximately $42,000. GW&K Investment Management LLC lifted its stake in shares of Gartner by 210.8% in the 1st quarter. GW&K Investment Management LLC now owns 115 shares of the information technology services provider's stock valued at $48,000 after purchasing an additional 78 shares during the period. Finally, Wayfinding Financial LLC acquired a new position in shares of Gartner in the 1st quarter valued at $55,000. Hedge funds and other institutional investors own 91.51% of the company's stock.

Insider Activity at Gartner

In other news, SVP John J. Rinello sold 105 shares of the company's stock in a transaction 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jose M. Gutierrez purchased 417 shares of the firm's stock in a transaction dated Monday, August 18th. The stock was acquired at an average cost of $239.80 per share, for a total transaction of $99,996.60. Following the completion of the purchase, the director owned 2,080 shares of the company's stock, valued at approximately $498,784. This represents a 25.08% increase in their position. The disclosure for this purchase can be found here. 3.60% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. The Goldman Sachs Group cut their price objective on shares of Gartner from $535.00 to $457.00 and set a "buy" rating for the company in a report on Wednesday, August 6th. BMO Capital Markets dropped their target price on Gartner from $409.00 to $272.00 and set a "market perform" rating on the stock in a research report on Wednesday, August 6th. UBS Group reaffirmed a "neutral" rating and issued a $270.00 price target (down previously from $480.00) on shares of Gartner in a report on Wednesday, August 6th. Wells Fargo & Company lowered their price target on Gartner from $345.00 to $225.00 and set an "underweight" rating on the stock in a research report on Wednesday, August 6th. Finally, Morgan Stanley cut their price objective 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. Three investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $369.25.

Gartner Price Performance

Shares of IT traded up $3.34 during mid-day trading on Monday, hitting $251.07. 920,018 shares of the company were exchanged, compared to its average volume of 1,847,286. The stock has a market cap of $19.02 billion, a price-to-earnings ratio of 15.45 and a beta of 1.20. Gartner, Inc. has a 1-year low of $223.65 and a 1-year high of $584.01. The company has a 50 day moving average of $323.74 and a 200-day moving average of $396.91. The company has a debt-to-equity ratio of 1.61, a quick ratio of 1.11 and a current ratio of 1.11.

Gartner (NYSE:IT - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The information technology services provider reported $3.53 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 company had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.68 billion. During the same period in the previous year, the business earned $3.22 EPS. Gartner's quarterly revenue was up 5.7% on a year-over-year basis. Gartner has set its FY 2025 guidance at 11.750- EPS. Analysts expect that Gartner, Inc. will post 12.5 EPS for the current fiscal year.

About Gartner

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.