Prudential PLC Decreases Position in Gartner, Inc. $IT

Key Points

• Prudential PLC reduced its holdings in Gartner, Inc. by 59.4%, now owning 4,200 shares worth approximately $1.76 million after selling 6,140 shares in the first quarter.
• Gartner's recent earnings report showed earnings per share of $3.53, surpassing estimates, while total revenue reached $1.66 billion, slightly below expectations.
• Analysts have significantly lowered their price targets for Gartner, with revisions including Wells Fargo cutting from $345 to $225 and UBS lowering from $480 to $270, reflecting a cautious outlook for the stock.

Prudential PLC lowered its holdings in shares of Gartner, Inc. (NYSE:IT - Free Report) by 59.4% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,200 shares of the information technology services provider's stock after selling 6,140 shares during the period. Prudential PLC's holdings in Gartner were worth $1,763,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Cary Street Partners Financial LLC bought a new position in shares of Gartner during the 4th quarter worth approximately $27,000. Itau Unibanco Holding S.A. grew its holdings in Gartner by 453.3% during the 4th quarter. Itau Unibanco Holding S.A. now owns 83 shares of the information technology services provider's stock valued at $40,000 after buying an additional 68 shares in the last quarter. Olde Wealth Management LLC purchased a new stake in Gartner during the first quarter valued at about $42,000. GW&K Investment Management LLC grew its position in Gartner by 210.8% during the first quarter. GW&K Investment Management LLC now owns 115 shares of the information technology services provider's stock valued at $48,000 after acquiring an additional 78 shares during the last quarter. Finally, Wayfinding Financial LLC bought a new stake in Gartner in the first quarter worth $55,000. Institutional investors own 91.51% of the company's stock.

Gartner Price Performance

Shares of Gartner stock traded up $4.5210 during mid-day trading on Tuesday, reaching $243.4610. 568,304 shares of the stock traded hands, compared to its average volume of 806,051. The business has a 50-day moving average of $352.70 and a 200 day moving average of $414.89. Gartner, Inc. has a fifty-two week low of $223.65 and a fifty-two week high of $584.01. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 1.61. The stock has a market capitalization of $18.44 billion, a PE ratio of 14.99 and a beta of 1.19.

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

Wall Street Analysts Forecast Growth

Several brokerages have commented on IT. 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 report on Wednesday, August 6th. Barclays decreased their target price on shares of Gartner from $475.00 to $320.00 and set an "overweight" rating for the company in a research note on Wednesday, August 6th. The Goldman Sachs Group dropped their price objective on shares of Gartner from $535.00 to $457.00 and set a "buy" rating on the stock in a report on Wednesday, August 6th. Morgan Stanley reduced their price objective on shares of Gartner from $455.00 to $322.00 and set an "equal weight" rating on the stock in a research report on Wednesday, August 6th. Finally, BMO Capital Markets decreased 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. Three analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Gartner presently has an average rating of "Hold" and an average price target 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.