UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC Grows Stock Position in Gartner, Inc. $IT

Key Points

• UBS Asset Management increased its stake in Gartner, Inc. by 3.2%, owning 670,512 shares valued at approximately $281.4 million as of the latest SEC filing.
• Gartner's stock is currently trading down by 5.4%, with a market capitalization of $17.64 billion and a 52-week trading range between $223.65 and $584.01.
• Recent analyst ratings have downgraded Gartner's target prices, with BMO Capital Markets setting the new target at $272.00, reflecting a significant reduction from previous estimates.

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Gartner, Inc. (NYSE:IT - Free Report) by 3.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 670,512 shares of the information technology services provider's stock after purchasing an additional 20,945 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned approximately 0.87% of Gartner worth $281,441,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in IT. Vanguard Group Inc. boosted its position in shares of Gartner by 1.8% during the first 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 buying an additional 164,810 shares during the period. Generation Investment Management LLP lifted its stake in shares of Gartner by 16.5% during the 1st quarter. Generation Investment Management LLP now owns 1,341,342 shares of the information technology services provider's stock worth $563,015,000 after acquiring an additional 189,514 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Gartner by 20.5% during the 1st quarter. JPMorgan Chase & Co. now owns 1,245,563 shares of the information technology services provider's stock worth $522,813,000 after acquiring an additional 211,842 shares during the last quarter. T. Rowe Price Investment Management Inc. boosted its holdings in Gartner by 692.2% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 1,066,732 shares of the information technology services provider's stock valued at $447,751,000 after acquiring an additional 932,077 shares during the period. Finally, Northern Trust Corp grew its position in Gartner by 11.0% in the 1st quarter. Northern Trust Corp now owns 1,006,655 shares of the information technology services provider's stock valued at $422,533,000 after acquiring an additional 99,822 shares during the last quarter. 91.51% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on IT. Morgan Stanley decreased their target price 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. Royal Bank Of Canada assumed coverage on shares of Gartner in a research note on Tuesday. They issued a "sector perform" rating and a $263.00 price target on the stock. BMO Capital Markets decreased their price objective on shares of Gartner from $409.00 to $272.00 and set a "market perform" rating for the company in a report on Wednesday, August 6th. UBS Group restated a "neutral" rating and issued a $270.00 target price (down from $480.00) on shares of Gartner in a research note on Wednesday, August 6th. Finally, Wolfe Research began coverage on shares of Gartner in a research report on Wednesday, September 3rd. They set a "peer perform" rating on the stock. Three research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, Gartner has an average rating of "Hold" and an average target price of $357.44.

Gartner Stock Up 2.6%

NYSE IT traded up $6.28 during midday trading on Friday, hitting $247.40. 2,214,210 shares of the company traded hands, compared to its average volume of 1,281,129. Gartner, Inc. has a 52 week low of $223.65 and a 52 week high of $584.01. The company's 50-day simple moving average is $292.34 and its 200-day simple moving average is $379.54. The company has a market cap of $18.74 billion, a PE ratio of 15.22 and a beta of 1.20. The company has a debt-to-equity ratio of 1.61, a current ratio of 1.11 and a quick ratio of 1.11.

Gartner (NYSE:IT - Get Free Report) last released its quarterly earnings results 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 firm 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 company posted $3.22 EPS. The business's revenue for the quarter was up 5.7% compared to the same quarter last year. Gartner has set its FY 2025 guidance at 11.750- EPS. As a group, equities research analysts forecast that Gartner, Inc. will post 12.5 earnings per share for the current year.

Insider Activity

In other Gartner news, SVP John J. Rinello sold 105 shares of the stock in a transaction dated 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 directly owned 3,225 shares of the company's stock, valued at approximately $805,314.75. This represents a 3.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Jose M. Gutierrez acquired 417 shares of the business's stock in a transaction dated Monday, August 18th. The stock was purchased at an average cost of $239.80 per share, for a total transaction of $99,996.60. Following the transaction, the director owned 2,080 shares in the company, valued at approximately $498,784. The trade was a 25.08% increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 2.30% of the company's stock.

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.