Gartner, Inc. $IT Shares Sold by Hsbc Holdings PLC

Key Points

• Hsbc Holdings PLC cut its stake in Gartner by 15.4% in the first quarter, selling 70,336 shares and leaving it with 386,453 shares valued at about $61.2 million.
• Wall Street sentiment remains cautious: the stock has a Hold consensus rating, with analysts trimming price targets across several firms; the average price target is $173.10.
• Gartner reported better-than-expected earnings for the latest quarter, posting EPS of $3.32 versus the $2.99 estimate, though revenue came in slightly below expectations and was down 1.5% year over year.

Hsbc Holdings PLC decreased its stake in shares of Gartner, Inc. (NYSE:IT - Free Report) by 15.4% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 386,453 shares of the information technology services provider's stock after selling 70,336 shares during the period. Hsbc Holdings PLC owned 0.55% of Gartner worth $61,194,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in IT. Physician Wealth Advisors Inc. boosted its stake in shares of Gartner by 143.9% during the fourth quarter. Physician Wealth Advisors Inc. now owns 100 shares of the information technology services provider's stock valued at $25,000 after acquiring an additional 59 shares during the last quarter. DV Equities LLC acquired a new position in Gartner in the 4th quarter valued at about $25,000. Rakuten Securities Inc. lifted its holdings in Gartner by 1,980.0% in the 4th quarter. Rakuten Securities Inc. now owns 104 shares of the information technology services provider's stock valued at $26,000 after purchasing an additional 99 shares in the last quarter. Entrust Financial LLC purchased a new position in Gartner in the 4th quarter valued at about $26,000. Finally, Bell Investment Advisors Inc boosted its stake in shares of Gartner by 75.5% during the 1st quarter. Bell Investment Advisors Inc now owns 172 shares of the information technology services provider's stock worth $27,000 after purchasing an additional 74 shares during the last quarter. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

IT has been the subject of a number of analyst reports. Royal Bank Of Canada cut their price objective on shares of Gartner from $175.00 to $160.00 and set a "sector perform" rating for the company in a research report on Wednesday, May 6th. Barclays decreased their target price on shares of Gartner from $180.00 to $150.00 and set an "equal weight" rating on the stock in a research report on Friday, April 10th. Wells Fargo & Company lowered their target price on shares of Gartner from $140.00 to $120.00 and set an "underweight" rating for the company in a research note on Wednesday, June 24th. UBS Group cut their price target on Gartner from $170.00 to $164.00 and set a "neutral" rating for the company in a report on Friday, June 12th. Finally, Weiss Ratings raised Gartner from a "sell (d)" rating to a "sell (d+)" rating in a research note on Wednesday. Two investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $173.10.

Gartner Trading Up 0.2%

NYSE IT opened at $140.45 on Monday. Gartner, Inc. has a 12 month low of $124.25 and a 12 month high of $361.20. The company has a 50-day moving average of $145.97 and a 200-day moving average of $166.46. The company has a debt-to-equity ratio of 46.98, a current ratio of 0.94 and a quick ratio of 0.94. The company has a market cap of $9.40 billion, a P/E ratio of 13.88, a P/E/G ratio of 0.77 and a beta of 0.97.

Gartner (NYSE:IT - Get Free Report) last announced its quarterly earnings data on Tuesday, May 5th. The information technology services provider reported $3.32 earnings per share for the quarter, topping the consensus estimate of $2.99 by $0.33. Gartner had a net margin of 11.44% and a return on equity of 161.39%. The business had revenue of $1.49 billion for the quarter, compared to analyst estimates of $1.51 billion. During the same period in the prior year, the firm posted $2.98 EPS. The company's revenue was down 1.5% on a year-over-year basis. Gartner has set its FY 2026 guidance at 13.250- EPS. As a group, equities analysts predict that Gartner, Inc. will post 13.61 earnings per share for the current year.

About Gartner

Gartner, Inc is a global research and advisory firm that provides insights, advice and tools for leaders in IT, finance, HR, customer service and other business functions. Founded in 1979 and headquartered in Stamford, Connecticut, Gartner specializes in helping organizations make informed decisions about technology, operations and strategy through a combination of published research, advisory services, consulting, executive programs and events.

The company's offerings include proprietary research reports, market forecasts, and analytical frameworks that are widely used by technology buyers and vendors.

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