Gotham Asset Management LLC Boosts Stock Holdings in Gartner, Inc. $IT

Key Points

• Gotham Asset Management LLC increased its stake in Gartner, Inc. by 21.9%, bringing its total holdings to 29,308 shares valued at $12.3 million.
• Gartner reported quarterly earnings of $3.53 per share, exceeding estimates, with a year-over-year revenue increase of 5.7% to $1.66 billion.
• Institutional investors own 91.51% of Gartner's stock, and several analysts have recently adjusted price targets downward, with an average target of $369.25.

Gotham Asset Management LLC lifted its stake in shares of Gartner, Inc. (NYSE:IT - Free Report) by 21.9% in the first quarter, according to its most recent filing with the SEC. The fund owned 29,308 shares of the information technology services provider's stock after acquiring an additional 5,263 shares during the period. Gotham Asset Management LLC's holdings in Gartner were worth $12,302,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Cornerstone Advisory LLC boosted its position in Gartner by 0.8% during the fourth quarter. Cornerstone Advisory LLC now owns 2,803 shares of the information technology services provider's stock valued at $1,443,000 after buying an additional 21 shares during the period. Connecticut Wealth Management LLC boosted its position in Gartner by 0.6% during the fourth quarter. Connecticut Wealth Management LLC now owns 4,604 shares of the information technology services provider's stock valued at $2,230,000 after buying an additional 26 shares during the period. Applied Finance Capital Management LLC boosted its position in Gartner by 1.5% during the first quarter. Applied Finance Capital Management LLC now owns 1,945 shares of the information technology services provider's stock valued at $816,000 after buying an additional 29 shares during the period. Allworth Financial LP raised its stake 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 valued at $235,000 after acquiring an additional 30 shares during the last quarter. Finally, Brighton Jones LLC raised its stake in shares of Gartner by 4.9% during the first quarter. Brighton Jones LLC now owns 668 shares of the information technology services provider's stock valued at $280,000 after acquiring an additional 31 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

Several equities analysts have recently commented on IT shares. BMO Capital Markets lowered their price objective on shares of Gartner from $409.00 to $272.00 and set a "market perform" rating for the company in a research note on Wednesday, August 6th. Royal Bank Of Canada started coverage on shares of Gartner in a research note on Tuesday. They set a "sector perform" rating and a $263.00 price objective for the company. Morgan Stanley lowered their price objective on shares of Gartner from $455.00 to $322.00 and set an "equal weight" rating for the company in a research note on Wednesday, August 6th. UBS Group reaffirmed a "neutral" rating and set a $270.00 price objective (down from $480.00) on shares of Gartner in a research note on Wednesday, August 6th. Finally, Wells Fargo & Company lowered their price objective on shares of Gartner from $345.00 to $225.00 and set an "underweight" rating for the company in a research note on Wednesday, August 6th. Three research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $357.44.

Gartner Trading Up 1.4%

IT stock traded up $3.34 during trading on Friday, reaching $244.46. The company had a trading volume of 827,511 shares, compared to its average volume of 855,322. Gartner, Inc. has a 52 week low of $223.65 and a 52 week high of $584.01. The company has a market cap of $18.51 billion, a P/E ratio of 15.03 and a beta of 1.20. The business has a 50 day moving average of $295.39 and a 200 day moving average of $382.12. The company has a debt-to-equity ratio of 1.61, a current ratio of 1.11 and a quick ratio of 1.11.

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 (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%. Gartner's revenue was up 5.7% on a year-over-year basis. During the same period in the prior year, the firm earned $3.22 earnings per share. Gartner has set its FY 2025 guidance at 11.750- EPS. As a group, sell-side analysts forecast that Gartner, Inc. will post 12.5 earnings per share for the current fiscal year.

Insider Transactions at Gartner

In other Gartner news, Director Jose M. Gutierrez acquired 417 shares of the business's stock in a transaction on 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 completion of the acquisition, the director owned 2,080 shares in the company, valued at $498,784. This trade represents a 25.08% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP John J. Rinello sold 105 shares of the company'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 completion of the sale, 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 disclosure for this sale can be found here. 2.30% of the stock is currently owned by corporate insiders.

Gartner Company 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.