Gulf International Bank UK Ltd Has $1.93 Million Holdings in Gartner, Inc. $IT

Key Points

• Gulf International Bank UK Ltd reduced its stake in Gartner, Inc. by 25.7% in the first quarter, holding 4,593 shares worth approximately $1.93 million after selling 1,590 shares.
• Several large institutional investors increased their stakes in Gartner recently, with notable increases from Itau Unibanco Holding S.A. and GW&K Investment Management LLC, reflecting strong interest despite stock fluctuations.
• Gartner's stock currently has an average price target of $369.25, with mixed recommendations from analysts, including several price target reductions from major firms.

Gulf International Bank UK Ltd decreased its holdings in shares of Gartner, Inc. (NYSE:IT - Free Report) by 25.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,593 shares of the information technology services provider's stock after selling 1,590 shares during the period. Gulf International Bank UK Ltd's holdings in Gartner were worth $1,927,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. GAMMA Investing LLC boosted its stake in shares of Gartner by 40,841.0% during the 1st quarter. GAMMA Investing LLC now owns 499,071 shares of the information technology services provider's stock worth $209,480,000 after acquiring an additional 497,852 shares in the last quarter. Nuveen LLC purchased a new position in shares of Gartner during the 1st quarter worth $128,318,000. BNP Paribas Financial Markets lifted its stake in shares of Gartner by 184.6% during the 4th quarter. BNP Paribas Financial Markets now owns 390,472 shares of the information technology services provider's stock worth $189,172,000 after purchasing an additional 253,288 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Gartner by 20.5% during 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 purchasing an additional 211,842 shares during the period. Finally, Millennium Management LLC increased its holdings in shares of Gartner by 178.0% during the 4th quarter. Millennium Management LLC now owns 297,277 shares of the information technology services provider's stock worth $144,022,000 after buying an additional 190,326 shares during the last quarter. Institutional investors and hedge funds own 91.51% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Barclays dropped their price objective on Gartner from $475.00 to $320.00 and set an "overweight" rating for the company in a report on Wednesday, August 6th. Morgan Stanley lowered their target price on Gartner from $455.00 to $322.00 and set an "equal weight" rating for the company in a research note on Wednesday, August 6th. The Goldman Sachs Group reduced their price target on shares of Gartner from $535.00 to $457.00 and set a "buy" rating on the stock in a research report on Wednesday, August 6th. BMO Capital Markets reduced their price target on shares of Gartner from $409.00 to $272.00 and set a "market perform" rating on the stock in a research report on Wednesday, August 6th. Finally, UBS Group reissued a "neutral" rating and issued a $270.00 target price (down previously from $480.00) on shares of Gartner in a report on Wednesday, August 6th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $369.25.

Gartner Price Performance

Shares of NYSE IT traded up $0.46 during mid-day trading on Monday, reaching $239.15. 1,923,728 shares of the company traded hands, compared to its average volume of 802,770. 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 current ratio of 1.11 and a quick ratio of 1.11. The firm has a market cap of $18.41 billion, a PE ratio of 14.72 and a beta of 1.19. The stock has a fifty day simple moving average of $356.35 and a 200-day simple moving average of $417.02.

Gartner (NYSE:IT - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The information technology services provider reported $3.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.38 by $0.15. Gartner had a net margin of 19.71% and a return on equity of 82.63%. The firm 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 business posted $3.22 earnings per share. The firm's quarterly revenue was up 5.7% compared to the same quarter last year. Equities research analysts anticipate that Gartner, Inc. will post 12.5 EPS for the current fiscal year.

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.