Handelsbanken Fonder AB Has $2.79 Million Position in Gartner, Inc. $IT

Key Points

• Handelsbanken Fonder AB cut its Gartner holdings by 34% in the second quarter, selling 11,064 shares and retaining 21,500 shares valued at approximately $2.79 million. Institutional investors collectively own 91.51% of the company.
• Gartner reported quarterly EPS of $4.37, beating estimates of $3.76, while revenue reached $1.68 billion versus expectations of $1.65 billion; revenue declined 0.6% year over year.
• Analysts maintain a broadly neutral outlook, with a consensus “Hold” rating and average price target of $185.50. Recent insider activity included stock sales by a director and an executive vice president.

Handelsbanken Fonder AB lowered its holdings in Gartner, Inc. (NYSE:IT - Free Report) by 34.0% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,500 shares of the information technology services provider's stock after selling 11,064 shares during the period. Handelsbanken Fonder AB's holdings in Gartner were worth $2,787,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of IT. Brighton Jones LLC acquired a new position in shares of Gartner in the 4th quarter valued at about $309,000. Sivia Capital Partners LLC acquired a new stake in shares of Gartner during the second quarter worth approximately $336,000. Cresset Asset Management LLC grew its position in Gartner by 15.2% during the second quarter. Cresset Asset Management LLC now owns 1,446 shares of the information technology services provider's stock valued at $585,000 after purchasing an additional 191 shares in the last quarter. Sei Investments Co. grew its position in Gartner by 9.2% during the second quarter. Sei Investments Co. now owns 91,205 shares of the information technology services provider's stock valued at $36,867,000 after purchasing an additional 7,678 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its stake in Gartner by 111.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 95,301 shares of the information technology services provider's stock valued at $38,523,000 after buying an additional 50,251 shares during the period. 91.51% of the stock is owned by hedge funds and other institutional investors.

Gartner Stock Performance

IT stock opened at $181.06 on Monday. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 46.98. Gartner, Inc. has a 12 month low of $124.25 and a 12 month high of $265.85. The firm has a 50 day moving average of $148.05 and a two-hundred day moving average of $155.79. The company has a market capitalization of $11.43 billion, a price-to-earnings ratio of 16.24, a P/E/G ratio of 0.60 and a beta of 0.94.

Gartner (NYSE:IT - Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The information technology services provider reported $4.37 earnings per share for the quarter, topping analysts' consensus estimates of $3.76 by $0.61. The company had revenue of $1.68 billion during the quarter, compared to analysts' expectations of $1.65 billion. Gartner had a return on equity of 525.46% and a net margin of 11.99%.The business's quarterly revenue was down .6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.53 earnings per share. Gartner has set its FY 2026 guidance at 14.000- EPS. As a group, equities analysts anticipate that Gartner, Inc. will post 14.44 EPS for the current fiscal year.

Insider Activity at Gartner

In related news, Director Anne Sutherland Fuchs sold 860 shares of the firm's stock in a transaction on Friday, August 7th. The shares were sold at an average price of $184.30, for a total value of $158,498.00. Following the transaction, the director directly owned 8,097 shares in the company, valued at approximately $1,492,277.10. This trade represents a 9.60% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Yvonne Genovese sold 1,205 shares of Gartner stock in a transaction on Monday, August 10th. The stock was sold at an average price of $190.06, for a total transaction of $229,022.30. Following the completion of the transaction, the executive vice president owned 6,208 shares in the company, valued at $1,179,892.48. This trade represents a 16.26% decrease in their position. The SEC filing for this sale provides additional information. 2.60% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. The Goldman Sachs Group increased their target price on shares of Gartner from $162.00 to $181.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 5th. Royal Bank Of Canada upped their price target on shares of Gartner from $160.00 to $164.00 and gave the stock a "sector perform" rating in a research note on Wednesday, August 5th. Truist Financial set a $205.00 price objective on Gartner in a report on Wednesday, August 5th. Morgan Stanley set a $177.00 price objective on Gartner in a report on Wednesday, August 5th. Finally, Weiss Ratings raised Gartner from a "sell (d)" rating to a "sell (d+)" rating in a research report on Thursday. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, Gartner has a consensus rating of "Hold" and an average price target of $185.50.

Gartner Company Profile

Gartner, Inc is a global research and advisory firm that provides insights, advice and tools for leaders in IT, finance, HR, customer service and other business functions. Founded in 1979 and headquartered in Stamford, Connecticut, Gartner specializes in helping organizations make informed decisions about technology, operations and strategy through a combination of published research, advisory services, consulting, executive programs and events.

The company's offerings include proprietary research reports, market forecasts, and analytical frameworks that are widely used by technology buyers and vendors.

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