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Gartner, Inc. $IT Shares Sold by Royal Bank of Canada

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Royal Bank of Canada trimmed its holdings in shares of Gartner, Inc. (NYSE:IT - Free Report) by 9.7% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 277,918 shares of the information technology services provider's stock after selling 29,818 shares during the period. Royal Bank of Canada owned about 0.42% of Gartner worth $44,007,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in IT. Cresset Asset Management LLC lifted its position in shares of Gartner by 3.3% during the 3rd quarter. Cresset Asset Management LLC now owns 1,493 shares of the information technology services provider's stock valued at $392,000 after acquiring an additional 47 shares during the last quarter. Horizon Investments LLC boosted its position in shares of Gartner by 4.3% in the 4th quarter. Horizon Investments LLC now owns 1,237 shares of the information technology services provider's stock valued at $312,000 after purchasing an additional 51 shares during the period. Brown Brothers Harriman & Co. increased its stake in Gartner by 5.8% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 1,019 shares of the information technology services provider's stock worth $268,000 after purchasing an additional 56 shares in the last quarter. Physician Wealth Advisors Inc. increased its stake in Gartner by 143.9% in the 4th quarter. Physician Wealth Advisors Inc. now owns 100 shares of the information technology services provider's stock worth $25,000 after purchasing an additional 59 shares in the last quarter. Finally, Valeo Financial Advisors LLC boosted its holdings in shares of Gartner by 8.8% in the fourth quarter. Valeo Financial Advisors LLC now owns 839 shares of the information technology services provider's stock worth $212,000 after buying an additional 68 shares during the period. Institutional investors and hedge funds own 91.51% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on IT shares. UBS Group cut their price target on shares of Gartner from $170.00 to $164.00 and set a "neutral" rating on the stock in a report on Friday, June 12th. Royal Bank Of Canada decreased their target price on Gartner from $175.00 to $160.00 and set a "sector perform" rating for the company in a research report on Wednesday, May 6th. The Goldman Sachs Group set a $162.00 price target on Gartner in a report on Tuesday, May 5th. Barclays dropped their price target on Gartner from $180.00 to $150.00 and set an "equal weight" rating on the stock in a research report on Friday, April 10th. Finally, Wells Fargo & Company reduced their price objective on Gartner from $140.00 to $120.00 and set an "underweight" rating for the company in a research note on Wednesday, June 24th. Two investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $173.10.

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Gartner Stock Performance

Shares of IT stock opened at $151.34 on Monday. The company has a debt-to-equity ratio of 46.98, a current ratio of 0.94 and a quick ratio of 0.94. Gartner, Inc. has a fifty-two week low of $124.25 and a fifty-two week high of $345.50. The stock's 50-day moving average is $144.62 and its two-hundred day moving average is $159.37. The firm has a market cap of $10.13 billion, a P/E ratio of 14.95, a PEG ratio of 0.83 and a beta of 0.94.

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

Gartner Company Profile

(Free Report)

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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Want to see what other hedge funds are holding IT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Gartner, Inc. (NYSE:IT - Free Report).

Institutional Ownership by Quarter for Gartner (NYSE:IT)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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