Ilmarinen Mutual Pension Insurance Co Lowers Stock Position in Gartner, Inc. $IT

Key Points

• Ilmarinen Mutual Pension Insurance Co has reduced its holdings in Gartner, Inc. by 16.7% in the first quarter, owning 12,500 shares worth approximately $5.25 million after selling 2,500 shares.
• Gartner's latest quarterly earnings showed an EPS of $3.53, exceeding analyst estimates, while revenue reached $1.66 billion, slightly falling short of predictions.
• Multiple analysts have revised their price targets for Gartner, with Wells Fargo setting a new objective of $225.00, indicating a bearish outlook with an "underweight" rating.

Ilmarinen Mutual Pension Insurance Co decreased its holdings in Gartner, Inc. (NYSE:IT - Free Report) by 16.7% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,500 shares of the information technology services provider's stock after selling 2,500 shares during the quarter. Ilmarinen Mutual Pension Insurance Co's holdings in Gartner were worth $5,247,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. DAVENPORT & Co LLC raised its position in shares of Gartner by 11.5% in the 1st quarter. DAVENPORT & Co LLC now owns 921 shares of the information technology services provider's stock valued at $387,000 after buying an additional 95 shares in the last quarter. HighPoint Advisor Group LLC increased its position in Gartner by 3.6% during the 1st quarter. HighPoint Advisor Group LLC now owns 1,145 shares of the information technology services provider's stock worth $482,000 after purchasing an additional 40 shares in the last quarter. Dynamic Technology Lab Private Ltd increased its position in Gartner by 94.9% during the 1st quarter. Dynamic Technology Lab Private Ltd now owns 2,670 shares of the information technology services provider's stock worth $1,121,000 after purchasing an additional 1,300 shares in the last quarter. Goldman Sachs Group Inc. increased its position in Gartner by 9.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 956,223 shares of the information technology services provider's stock worth $401,365,000 after purchasing an additional 82,307 shares in the last quarter. Finally, SG Americas Securities LLC increased its position in Gartner by 3.6% during the 1st quarter. SG Americas Securities LLC now owns 42,389 shares of the information technology services provider's stock worth $17,792,000 after purchasing an additional 1,484 shares in the last quarter. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Gartner Stock Performance

IT traded up $4.21 during trading on Tuesday, hitting $251.10. 625,882 shares of the company traded hands, compared to its average volume of 872,026. The firm has a market cap of $19.02 billion, a P/E ratio of 15.46 and a beta of 1.20. The stock's fifty day moving average is $289.30 and its 200 day moving average is $377.00. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 1.61. Gartner, Inc. has a one year low of $223.65 and a one year high of $584.01.

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

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Wells Fargo & Company reduced their target price on shares of Gartner from $345.00 to $225.00 and set an "underweight" rating on the stock in a report on Wednesday, August 6th. Barclays reduced their target price on shares of Gartner from $475.00 to $320.00 and set an "overweight" rating on the stock in a report on Wednesday, August 6th. BMO Capital Markets reduced their target price on shares of Gartner from $409.00 to $272.00 and set a "market perform" rating on the stock in a report on Wednesday, August 6th. Royal Bank Of Canada assumed coverage on shares of Gartner in a report on Tuesday, September 9th. They set a "sector perform" rating and a $263.00 target price on the stock. Finally, UBS Group reissued a "neutral" rating and set a $270.00 target price (down from $480.00) on shares of Gartner in a report on Wednesday, August 6th. Three analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $357.44.

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 completion of the transaction, the senior vice president owned 3,225 shares in the company, valued at approximately $805,314.75. This represents a 3.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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, with a total value of $99,996.60. Following the transaction, the director owned 2,080 shares of the company's stock, valued at $498,784. This trade 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 corporate insiders.

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.