Assenagon Asset Management S.A. Decreases Position in Gartner, Inc. $IT

Key Points

• Assenagon Asset Management S.A. reduced its stake in Gartner, Inc. by 7.9%, selling 11,853 shares and now owning 138,268 shares valued at approximately $55.89 million.
• Analysts have mixed views on Gartner's stock, with price targets ranging from $225.00 to $535.00, resulting in an average rating of "Hold" and a target price of $357.44.
• Gartner reported an earnings per share (EPS) of $3.53 in its last quarterly earnings, exceeding expectations and showing a year-over-year revenue growth of 5.7%.

Assenagon Asset Management S.A. decreased its position in shares of Gartner, Inc. (NYSE:IT - Free Report) by 7.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 138,268 shares of the information technology services provider's stock after selling 11,853 shares during the quarter. Assenagon Asset Management S.A. owned about 0.18% of Gartner worth $55,891,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently added to or reduced their stakes in the business. Applied Finance Capital Management LLC lifted its position in Gartner by 1.5% in the 1st quarter. Applied Finance Capital Management LLC now owns 1,945 shares of the information technology services provider's stock worth $816,000 after buying an additional 29 shares in the last quarter. Allworth Financial LP raised its holdings in shares of Gartner by 5.6% during the first quarter. Allworth Financial LP now owns 562 shares of the information technology services provider's stock worth $235,000 after acquiring an additional 30 shares in the last quarter. Brighton Jones LLC raised its stake in shares of Gartner by 4.9% during the 1st quarter. Brighton Jones LLC now owns 668 shares of the information technology services provider's stock worth $280,000 after purchasing an additional 31 shares in the last quarter. Siemens Fonds Invest GmbH raised its stake in shares of Gartner by 4.0% during the 4th quarter. Siemens Fonds Invest GmbH now owns 854 shares of the information technology services provider's stock worth $415,000 after purchasing an additional 33 shares in the last quarter. Finally, Resonant Capital Advisors LLC raised its stake in shares of Gartner by 1.6% during the 1st quarter. Resonant Capital Advisors LLC now owns 2,324 shares of the information technology services provider's stock worth $975,000 after purchasing an additional 36 shares in the last quarter. Institutional investors and hedge funds own 91.51% of the company's stock.

Analyst Ratings Changes

Several research firms have recently issued reports on IT. Morgan Stanley dropped their price objective on shares of Gartner from $455.00 to $322.00 and set an "equal weight" rating on the stock in a report on Wednesday, August 6th. UBS Group reaffirmed a "neutral" rating and issued a $270.00 target price (down previously from $480.00) on shares of Gartner in a report on Wednesday, August 6th. The Goldman Sachs Group decreased their price target on Gartner from $535.00 to $457.00 and set a "buy" rating on the stock in a research report on Wednesday, August 6th. Wells Fargo & Company decreased 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, Wolfe Research started coverage on Gartner in a report on Wednesday, September 3rd. They set a "peer perform" rating on the stock. Three equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $357.44.

Insider Buying and Selling

In other Gartner news, Director Jose M. Gutierrez purchased 417 shares of Gartner stock in a transaction that occurred on Monday, August 18th. The shares were bought at an average price of $239.80 per share, for a total transaction of $99,996.60. Following the acquisition, the director directly owned 2,080 shares in the company, valued at approximately $498,784. This trade represents a 25.08% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP John J. Rinello sold 105 shares of the business's stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $249.71, for a total transaction of $26,219.55. Following the sale, the senior vice president directly owned 3,225 shares in the company, valued at $805,314.75. The trade was a 3.15% decrease in their position. The disclosure for this sale can be found here. 3.60% of the stock is owned by company insiders.

Gartner Price Performance

Gartner stock traded down $3.36 during midday trading on Tuesday, reaching $256.78. The company's stock had a trading volume of 499,359 shares, compared to its average volume of 911,697. The stock has a market cap of $19.45 billion, a PE ratio of 15.79 and a beta of 1.20. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 1.61. The business has a 50-day moving average price of $276.26 and a 200-day moving average price of $368.93. Gartner, Inc. has a 52 week low of $223.65 and a 52 week high of $584.01.

Gartner (NYSE:IT - Get Free Report) last released its quarterly earnings results 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 return on equity of 82.63% and a net margin of 19.71%.The company had revenue of $1.66 billion for the quarter, compared to analysts' expectations of $1.68 billion. During the same period in the previous year, the business posted $3.22 earnings per share. The business'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. On average, sell-side analysts predict that Gartner, Inc. will post 12.5 EPS for the current 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.