Gartner, Inc. $IT Shares Sold by Amundi

Key Points

• Amundi reduced its stake in Gartner, Inc. by 8.6%, now holding approximately 0.43% of the company worth $133.75 million after selling 30,998 shares.
• Despite Amundi's sale, other institutions like Generation Investment Management LLP and Federation des caisses Desjardins du Quebec increased their holdings, indicating continued institutional interest.
• Analysts have adjusted their price targets for Gartner, with Goldman Sachs lowering its estimate to $457 but maintaining a "buy" rating, while Wells Fargo set a more conservative target at $225.

Amundi trimmed its position in shares of Gartner, Inc. (NYSE:IT - Free Report) by 8.6% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 330,290 shares of the information technology services provider's stock after selling 30,998 shares during the period. Amundi owned approximately 0.43% of Gartner worth $133,751,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Generation Investment Management LLP increased its holdings 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 buying an additional 189,514 shares during the last quarter. Federation des caisses Desjardins du Quebec increased its holdings in shares of Gartner by 38.1% during the 1st quarter. Federation des caisses Desjardins du Quebec now owns 8,662 shares of the information technology services provider's stock worth $3,637,000 after buying an additional 2,388 shares during the last quarter. EP Wealth Advisors LLC increased its holdings in shares of Gartner by 5.0% during the 1st quarter. EP Wealth Advisors LLC now owns 800 shares of the information technology services provider's stock worth $336,000 after buying an additional 38 shares during the last quarter. Focus Partners Advisor Solutions LLC acquired a new stake in shares of Gartner during the 1st quarter worth $330,000. Finally, Quarry LP increased its holdings in shares of Gartner by 2,052.9% during the 1st quarter. Quarry LP now owns 732 shares of the information technology services provider's stock worth $307,000 after buying an additional 698 shares during the last quarter. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently commented on IT. The Goldman Sachs Group dropped their price objective on Gartner from $535.00 to $457.00 and set a "buy" rating for the company in a report on Wednesday, August 6th. Wolfe Research started coverage on shares of Gartner in a research report on Wednesday. They set a "peer perform" rating for the company. BMO Capital Markets decreased their price target on shares of Gartner from $409.00 to $272.00 and set a "market perform" rating for the company in a research report on Wednesday, August 6th. 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 research report on Wednesday, August 6th. Finally, 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 research report on Wednesday, August 6th. Three investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Gartner has a consensus rating of "Hold" and a consensus price target of $369.25.

Insider Activity

In related 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 sale, the senior vice president owned 3,225 shares in the company, valued at $805,314.75. This 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 available through this hyperlink. Also, Director Jose M. Gutierrez acquired 417 shares of the company's stock in a transaction that occurred on Monday, August 18th. The shares were acquired 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 of the company's stock, valued at $498,784. This trade represents a 25.08% increase in their ownership of the stock. The disclosure for this purchase can be found here. 2.30% of the stock is owned by corporate insiders.

Gartner Stock Performance

Shares of IT stock opened at $245.79 on Friday. 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, Inc. has a one year low of $223.65 and a one year high of $584.01. The company's 50-day simple moving average is $308.20 and its 200-day simple moving average is $389.28. The stock has a market capitalization of $18.62 billion, a price-to-earnings ratio of 15.13 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 EPS 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 business had revenue of $1.66 billion for the quarter, compared to analysts' expectations of $1.68 billion. During the same quarter last year, the company posted $3.22 earnings per share. The company's quarterly revenue was up 5.7% compared to the same quarter last year. Gartner has set its FY 2025 guidance at 11.750- EPS. Equities analysts anticipate that Gartner, Inc. will post 12.5 earnings per share 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.

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