Czech National Bank Buys 1,170 Shares of Gartner, Inc. $IT

Key Points

• Czech National Bank increased its stake in Gartner, Inc. by 6.6% to 18,813 shares, now valued at approximately $7.6 million.
• A number of analysts have downgraded their price targets for Gartner, with UBS lowering theirs from $480 to $270, while Wells Fargo set a target of $225.
• Gartner reported earnings of $3.53 per share for the latest quarter, exceeding estimates, but had a revenue decline compared to analyst expectations, reporting $1.66 billion against an expected $1.68 billion.

Czech National Bank boosted its position in shares of Gartner, Inc. (NYSE:IT - Free Report) by 6.6% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 18,813 shares of the information technology services provider's stock after purchasing an additional 1,170 shares during the period. Czech National Bank's holdings in Gartner were worth $7,605,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Ransom Advisory Ltd acquired a new stake in Gartner during the 1st quarter valued at $29,000. Olde Wealth Management LLC acquired a new position in shares of Gartner in the first quarter worth $42,000. GW&K Investment Management LLC increased its stake in shares of Gartner by 210.8% in the first quarter. GW&K Investment Management LLC now owns 115 shares of the information technology services provider's stock worth $48,000 after acquiring an additional 78 shares during the last quarter. Wayfinding Financial LLC acquired a new position in shares of Gartner in the first quarter worth $55,000. Finally, Bayforest Capital Ltd increased its stake in shares of Gartner by 527.3% in the first 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. 91.51% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, SVP John J. Rinello sold 105 shares of the firm'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 transaction, the senior vice president owned 3,225 shares of the company's stock, valued at approximately $805,314.75. This trade represents a 3.15% decrease in their ownership of the stock. 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 purchased 417 shares of the company's stock in a transaction dated Monday, August 18th. The shares were acquired at an average cost of $239.80 per share, with a total value of $99,996.60. Following the purchase, the director directly owned 2,080 shares of the company's stock, valued at approximately $498,784. The trade was a 25.08% increase in their position. The disclosure for this purchase can be found here. 2.30% of the stock is owned by corporate insiders.

Gartner Price Performance

Shares of Gartner stock traded up $3.53 on Friday, reaching $256.55. 4,285,572 shares of the stock were exchanged, compared to its average volume of 1,398,057. The firm's 50 day moving average is $278.51 and its 200-day moving average is $371.27. Gartner, Inc. has a one year low of $223.65 and a one year high of $584.01. The company has a debt-to-equity ratio of 1.61, a quick ratio of 1.11 and a current ratio of 1.11. The firm has a market cap of $19.43 billion, a PE ratio of 15.79 and a beta of 1.20.

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

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on IT. Wolfe Research began coverage on shares of Gartner in a research note on Wednesday, September 3rd. They issued a "peer perform" rating on the stock. UBS Group restated a "neutral" rating and set a $270.00 price target (down from $480.00) on shares of Gartner in a report on Wednesday, August 6th. Wells Fargo & Company decreased their price target on shares of Gartner from $345.00 to $225.00 and set an "underweight" 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 report on Wednesday, August 6th. Finally, Morgan Stanley decreased their price target on shares of Gartner from $455.00 to $322.00 and set an "equal weight" rating for the company in a 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 MarketBeat, Gartner presently has an average 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.