Generali Asset Management SPA SGR Increases Position in Gartner, Inc. $IT

Key Points

• Generali Asset Management SPA SGR raised its stake in Gartner, Inc. by 63.1% in Q2, owning 5,478 shares valued at $2.2 million.
• Major investors like T. Rowe Price and JPMorgan Chase significantly increased their holdings in Gartner during Q1 2023, indicating strong institutional interest in the company.
• Gartner reported $3.53 EPS in its latest quarterly earnings, exceeding analysts' expectations, and set its FY 2025 EPS guidance at 11.750.

Generali Asset Management SPA SGR increased its stake in shares of Gartner, Inc. (NYSE:IT - Free Report) by 63.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,478 shares of the information technology services provider's stock after buying an additional 2,119 shares during the quarter. Generali Asset Management SPA SGR's holdings in Gartner were worth $2,214,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in IT. T. Rowe Price Investment Management Inc. grew its holdings in shares of Gartner by 692.2% during the first quarter. T. Rowe Price Investment Management Inc. now owns 1,066,732 shares of the information technology services provider's stock valued at $447,751,000 after buying an additional 932,077 shares during the last quarter. Nuveen LLC purchased a new stake in shares of Gartner during the first quarter valued at $128,318,000. JPMorgan Chase & Co. grew its holdings in shares of Gartner by 20.5% during the first quarter. JPMorgan Chase & Co. now owns 1,245,563 shares of the information technology services provider's stock valued at $522,813,000 after buying an additional 211,842 shares during the last quarter. Generation Investment Management LLP boosted its holdings in Gartner by 16.5% in the first quarter. Generation Investment Management LLP now owns 1,341,342 shares of the information technology services provider's stock valued at $563,015,000 after purchasing an additional 189,514 shares during the last quarter. Finally, Vanguard Group Inc. boosted its holdings in Gartner by 1.8% in the first quarter. Vanguard Group Inc. now owns 9,433,449 shares of the information technology services provider's stock valued at $3,959,596,000 after purchasing an additional 164,810 shares during the last quarter. 91.51% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, SVP John J. Rinello sold 105 shares of the company's 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 $805,314.75. This represents a 3.15% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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 in the company, valued at approximately $498,784. The trade was a 25.08% increase in their ownership of the stock. The disclosure for this purchase can be found here. 2.30% of the stock is owned by corporate insiders.

Gartner Trading Down 0.4%

Shares of Gartner stock opened at $235.87 on Friday. The firm has a 50-day simple moving average of $247.17 and a two-hundred day simple moving average of $346.47. The company has a market cap of $17.86 billion, a P/E ratio of 14.52 and a beta of 1.20. Gartner, Inc. has a fifty-two week low of $223.65 and a fifty-two week high of $584.01. The company has a debt-to-equity ratio of 1.61, a quick ratio of 1.11 and a current ratio of 1.11.

Gartner (NYSE:IT - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The information technology services provider reported $3.53 earnings per share for the quarter, topping analysts' consensus estimates of $3.38 by $0.15. The business 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 posted $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 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have commented on IT shares. Morgan Stanley set a $307.00 price target on shares of Gartner in a report on Monday. The Goldman Sachs Group lowered their price target 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. UBS Group upped their price target on shares of Gartner from $270.00 to $280.00 and gave the company a "neutral" rating in a report on Monday, October 6th. Truist Financial started coverage on shares of Gartner in a report on Thursday. They issued a "buy" rating and a $300.00 price target on the stock. Finally, Wells Fargo & Company lowered their price target 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. Four investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $351.20.

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.

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