Generation Investment Management LLP Purchases 189,514 Shares of Gartner, Inc. $IT

Key Points

• Generation Investment Management LLP increased its stake in Gartner, Inc. by 16.5%, acquiring an additional 189,514 shares, bringing their total to 1,341,342 shares.
• Wall Street analysts have reduced their price targets for Gartner; notably, Wells Fargo cut its target from $345 to $225, indicating a more cautious outlook.
• Despite the price cuts, Gartner reported higher-than-expected earnings** of $3.53 per share for the last quarter, along with a revenue increase of 5.7% year-over-year.

Generation Investment Management LLP lifted its holdings in Gartner, Inc. (NYSE:IT - Free Report) by 16.5% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 1,341,342 shares of the information technology services provider's stock after buying an additional 189,514 shares during the quarter. Gartner makes up 3.4% of Generation Investment Management LLP's portfolio, making the stock its 14th biggest position. Generation Investment Management LLP owned approximately 1.75% of Gartner worth $563,015,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the company. Vanguard Group Inc. increased its holdings in shares of Gartner by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 9,433,449 shares of the information technology services provider's stock worth $3,959,596,000 after acquiring an additional 164,810 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of Gartner by 20.5% in the 1st quarter. JPMorgan Chase & Co. now owns 1,245,563 shares of the information technology services provider's stock worth $522,813,000 after acquiring an additional 211,842 shares during the period. T. Rowe Price Investment Management Inc. increased its holdings in shares of Gartner by 692.2% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 1,066,732 shares of the information technology services provider's stock worth $447,751,000 after acquiring an additional 932,077 shares during the period. Northern Trust Corp increased its holdings in shares of Gartner by 11.0% in the 1st quarter. Northern Trust Corp now owns 1,006,655 shares of the information technology services provider's stock worth $422,533,000 after acquiring an additional 99,822 shares during the period. Finally, Goldman Sachs Group Inc. increased its stake 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 valued at $401,365,000 after buying an additional 82,307 shares during the period. Institutional investors and hedge funds own 91.51% of the company's stock.

Analyst Ratings Changes

Several research firms have commented on IT. Morgan Stanley lowered their target price on shares of Gartner from $455.00 to $322.00 and set an "equal weight" rating on the stock in a research note on Wednesday, August 6th. BMO Capital Markets lowered their price objective on shares of Gartner from $409.00 to $272.00 and set a "market perform" rating on the stock in a research note on Wednesday, August 6th. Wolfe Research began coverage on shares of Gartner in a research note on Wednesday. They issued a "peer perform" rating on the stock. Wells Fargo & Company lowered their price objective on shares of Gartner from $345.00 to $225.00 and set an "underweight" rating on the stock in a research note on Wednesday, August 6th. Finally, Barclays lowered their price objective on shares of Gartner from $475.00 to $320.00 and set an "overweight" rating on the stock in a research note on Wednesday, August 6th. Three equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Gartner presently has a consensus rating of "Hold" and an average price target of $369.25.

Gartner Stock Up 3.8%

Shares of IT stock traded up $9.06 during trading on Friday, hitting $245.79. 1,304,551 shares of the company were exchanged, compared to its average volume of 1,429,579. The company has a debt-to-equity ratio of 1.61, a quick ratio of 1.11 and a current ratio of 1.11. The firm has a market capitalization of $18.62 billion, a price-to-earnings ratio of 15.13 and a beta of 1.20. The business's 50-day simple moving average is $308.20 and its 200 day simple moving average is $389.28. Gartner, Inc. has a twelve month low of $223.65 and a twelve month 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 EPS for the quarter, topping the consensus estimate of $3.38 by $0.15. The business had revenue of $1.66 billion during the quarter, compared to analysts' expectations of $1.68 billion. Gartner had a net margin of 19.71% and a return on equity of 82.63%. The firm's quarterly revenue was up 5.7% compared to the same quarter last year. During the same period last year, the company posted $3.22 earnings per share. Gartner has set its FY 2025 guidance at 11.750- EPS. As a group, analysts forecast that Gartner, Inc. will post 12.5 EPS for the current fiscal year.

Insider Activity at Gartner

In related news, Director Jose M. Gutierrez purchased 417 shares of the firm's stock in a transaction that occurred on Monday, August 18th. The stock was acquired at an average cost 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 position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP John J. Rinello sold 105 shares of the firm's stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $249.71, for a total transaction of $26,219.55. Following the sale, the senior vice president owned 3,225 shares of the company's stock, valued at approximately $805,314.75. This represents a 3.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.30% of the company's stock.

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.