Goldman Sachs Group Inc. Acquires 82,307 Shares of Gartner, Inc. $IT

Key Points

• Goldman Sachs Group Inc. increased its stake in Gartner, Inc. by 9.4%, acquiring an additional 82,307 shares, bringing its total ownership to approximately 1.24% valued at $401.37 million.
• Multiple hedge funds have also adjusted their holdings in Gartner, with 91.51% of the stock owned by institutional investors.
• Gartner's recent earnings report showed $3.53 EPS, exceeding estimates, while the company set its FY 2025 guidance at 11.750 EPS.

Goldman Sachs Group Inc. grew its holdings in Gartner, Inc. (NYSE:IT - Free Report) by 9.4% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 956,223 shares of the information technology services provider's stock after buying an additional 82,307 shares during the quarter. Goldman Sachs Group Inc. owned approximately 1.24% of Gartner worth $401,365,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in IT. Cary Street Partners Financial LLC bought a new position in shares of Gartner during the 4th quarter valued at about $27,000. Olde Wealth Management LLC bought a new stake in Gartner in the 1st quarter valued at approximately $42,000. GW&K Investment Management LLC lifted its stake in Gartner by 210.8% in the 1st 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 in the last quarter. Wayfinding Financial LLC bought a new stake in Gartner in the 1st quarter valued at approximately $55,000. Finally, Bayforest Capital Ltd lifted its stake in Gartner by 527.3% in the 1st quarter. Bayforest Capital Ltd now owns 138 shares of the information technology services provider's stock valued at $58,000 after acquiring an additional 116 shares in the last quarter. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Gartner Price Performance

Shares of NYSE:IT traded up $6.28 during trading on Friday, reaching $247.40. 2,214,210 shares of the company traded hands, compared to its average volume of 1,281,129. The company's 50 day moving average is $292.34 and its two-hundred day moving average is $380.36. The firm has a market capitalization of $18.74 billion, a PE ratio of 15.22 and a beta of 1.20. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 1.61. Gartner, Inc. has a 52 week low of $223.65 and a 52 week high of $584.01.

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

Insiders Place Their Bets

In related news, SVP John J. Rinello sold 105 shares of the company's stock in a transaction 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 completion of the sale, the senior vice president directly owned 3,225 shares in the company, valued at $805,314.75. This represents a 3.15% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Jose M. Gutierrez acquired 417 shares of the company's stock in a transaction that occurred on Monday, August 18th. The shares were acquired at an average price of $239.80 per share, with a total value of $99,996.60. Following the completion of the transaction, the director owned 2,080 shares in the company, valued at $498,784. The trade was a 25.08% increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 2.30% of the company's stock.

Analyst Ratings Changes

Several research firms have commented on IT. The Goldman Sachs Group cut their target price on Gartner from $535.00 to $457.00 and set a "buy" rating on the stock in a research note on Wednesday, August 6th. Morgan Stanley dropped their price objective on Gartner from $455.00 to $322.00 and set an "equal weight" rating on the stock in a research note on Wednesday, August 6th. UBS Group reiterated a "neutral" rating and set a $270.00 price objective (down previously from $480.00) on shares of Gartner in a research note on Wednesday, August 6th. Wolfe Research started coverage on Gartner in a research note on Wednesday, September 3rd. They set a "peer perform" rating on the stock. Finally, Wells Fargo & Company decreased their target price on Gartner from $345.00 to $225.00 and set an "underweight" rating on the stock in a report on Wednesday, August 6th. Three analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Gartner presently has an average rating of "Hold" and a consensus price target of $357.44.

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.