Sumitomo Mitsui DS Asset Management Company Ltd Purchases 1,150 Shares of Gartner, Inc. $IT

Key Points

• Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in Gartner, Inc. by 10.2%, owning 12,433 shares valued at approximately $5 million following the purchase of 1,150 additional shares in Q2.
• Gartner reported earnings of $3.53 per share for the latest quarter, exceeding analysts' expectations, although revenue slightly fell short at $1.66 billion.
• Multiple institutional investors have significantly increased their stakes in Gartner; for instance, T. Rowe Price boosted its stake by 692.2%, amassing over 1 million shares valued at about $448 million.

Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in shares of Gartner, Inc. (NYSE:IT - Free Report) by 10.2% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 12,433 shares of the information technology services provider's stock after buying an additional 1,150 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in Gartner were worth $5,026,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in IT. Ransom Advisory Ltd purchased a new position in shares of Gartner in the first quarter worth about $29,000. Olde Wealth Management LLC bought a new stake in Gartner during the first quarter valued at approximately $42,000. GW&K Investment Management LLC lifted its position in 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 valued at $48,000 after purchasing an additional 78 shares during the last quarter. Wayfinding Financial LLC bought a new stake in shares of Gartner in the 1st quarter worth approximately $55,000. Finally, Bayforest Capital Ltd lifted its holdings in shares of Gartner by 527.3% in the 1st quarter. Bayforest Capital Ltd now owns 138 shares of the information technology services provider's stock worth $58,000 after acquiring an additional 116 shares during the last quarter. Hedge funds and other institutional investors own 91.51% of the company's stock.

Insider Activity at Gartner

In other Gartner news, SVP John J. Rinello sold 105 shares of the firm's 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 sale, the senior vice president owned 3,225 shares in the company, valued at approximately $805,314.75. This trade represents a 3.15% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jose M. Gutierrez bought 417 shares of the firm's stock in a transaction on Monday, August 18th. The shares were purchased at an average price of $239.80 per share, for a total transaction of $99,996.60. Following the purchase, the director owned 2,080 shares in the company, valued at $498,784. This trade represents a 25.08% increase in their position. The disclosure for this purchase can be found here. 3.60% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

IT has been the subject of a number of recent analyst reports. The Goldman Sachs Group lowered their price target 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. Barclays decreased their price target on shares of Gartner from $475.00 to $320.00 and set an "overweight" rating for the company in a research note on Wednesday, August 6th. BMO Capital Markets reduced their target price on shares of 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 target price (down from $480.00) on shares of Gartner in a research report on Wednesday, August 6th. Finally, Morgan Stanley reduced their target price on shares of Gartner from $455.00 to $322.00 and set an "equal weight" rating on the stock in a research report on Wednesday, August 6th. Three 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. According to data from MarketBeat, Gartner presently has a consensus rating of "Hold" and a consensus target price of $357.44.

Gartner Stock Performance

Shares of NYSE:IT traded up $4.78 during trading on Monday, hitting $261.17. The company's stock had a trading volume of 708,500 shares, compared to its average volume of 908,098. The company has a 50-day moving average of $278.51 and a 200-day moving average of $370.48. Gartner, Inc. has a 12 month low of $223.65 and a 12 month high of $584.01. The company has a debt-to-equity ratio of 1.61, a current ratio of 1.11 and a quick ratio of 1.11. The firm has a market cap of $19.78 billion, a price-to-earnings ratio of 16.07 and a beta of 1.20.

Gartner (NYSE:IT - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The information technology services provider reported $3.53 earnings per share for the quarter, topping the consensus estimate of $3.38 by $0.15. Gartner had a net margin of 19.71% and a return on equity of 82.63%. The firm had revenue of $1.66 billion for the quarter, compared to analysts' expectations of $1.68 billion. During the same quarter in the prior year, the business earned $3.22 EPS. The business's quarterly revenue was up 5.7% on a year-over-year basis. Gartner has set its FY 2025 guidance at 11.750- EPS. On average, sell-side analysts expect that Gartner, Inc. will post 12.5 earnings per share for the current year.

Gartner Company 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.