Ieq Capital LLC Has $2.29 Million Holdings in Gartner, Inc. $IT

Key Points

• Ieq Capital LLC reduced its stake in Gartner, Inc. by 16.7% during the first quarter, now holding 5,464 shares valued at approximately $2.294 million.
• Wall Street analysts have revised their price targets for Gartner, with estimates ranging from $270 to $457, reflecting a shift in outlook as some firms lowered their ratings to "market perform" or "equal weight."
• Gartner reported EPS of $3.53 for the last quarter, surpassing analysts' expectations, while revenue increased 5.7% year-over-year to $1.66 billion.

Ieq Capital LLC trimmed its holdings in shares of Gartner, Inc. (NYSE:IT - Free Report) by 16.7% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,464 shares of the information technology services provider's stock after selling 1,095 shares during the period. Ieq Capital LLC's holdings in Gartner were worth $2,294,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. Caisse DE Depot ET Placement DU Quebec boosted its holdings in Gartner by 28.0% during the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 34,643 shares of the information technology services provider's stock worth $14,541,000 after buying an additional 7,578 shares in the last quarter. Taikang Asset Management Hong Kong Co Ltd boosted its holdings in Gartner by 30.0% during the first quarter. Taikang Asset Management Hong Kong Co Ltd now owns 6,693 shares of the information technology services provider's stock worth $2,809,000 after buying an additional 1,545 shares in the last quarter. Thematics Asset Management boosted its holdings in Gartner by 16.8% during the first quarter. Thematics Asset Management now owns 9,309 shares of the information technology services provider's stock worth $3,907,000 after buying an additional 1,342 shares in the last quarter. ICONIQ Capital LLC bought a new stake in Gartner during the first quarter worth approximately $220,000. Finally, Jump Financial LLC boosted its holdings in Gartner by 266.2% during the first quarter. Jump Financial LLC now owns 5,295 shares of the information technology services provider's stock worth $2,223,000 after buying an additional 3,849 shares in the last quarter. 91.51% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

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 transaction, the senior vice president owned 3,225 shares in the company, valued at approximately $805,314.75. This trade represents a 3.15% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jose M. Gutierrez purchased 417 shares of the business's stock in a transaction dated 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 acquisition, the director directly owned 2,080 shares in the company, valued at $498,784. This represents a 25.08% increase in their position. The disclosure for this purchase can be found here. 3.60% of the stock is currently owned by company insiders.

Gartner Stock Down 4.4%

IT stock traded down $11.00 during midday trading on Thursday, reaching $236.58. The company had a trading volume of 1,250,053 shares, compared to its average volume of 843,457. Gartner, Inc. has a 1 year low of $223.65 and a 1 year high of $584.01. 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 company has a market capitalization of $17.92 billion, a P/E ratio of 14.56 and a beta of 1.20. The company has a 50 day moving average of $314.69 and a two-hundred day moving average of $393.05.

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

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on IT. Barclays reduced their target price 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. Wells Fargo & Company reduced 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. UBS Group restated a "neutral" rating and issued a $270.00 price target (down previously from $480.00) on shares of Gartner in a research report on Wednesday, August 6th. BMO Capital Markets reduced 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. Finally, The Goldman Sachs Group reduced their price target on shares of Gartner from $535.00 to $457.00 and set a "buy" rating for the company in a research report on Wednesday, August 6th. Three equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $369.25.

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.