Harel Insurance Investments & Financial Services Ltd. Buys New Stake in Gartner, Inc. $IT

Key Points

• Harel Insurance Investments opened a new position in Gartner in the first quarter, buying 8,520 shares valued at about $1.35 million.
• Institutional ownership in Gartner remains very high at 91.51%, with several large funds recently increasing their stakes in the company.
• Gartner reported better-than-expected earnings of $3.32 per share, but revenue missed estimates and was down 1.5% year over year; analysts currently rate the stock a Hold with a consensus target price of $173.10.

Harel Insurance Investments & Financial Services Ltd. acquired a new position in Gartner, Inc. (NYSE:IT - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 8,520 shares of the information technology services provider's stock, valued at approximately $1,349,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of IT. Capital International Investors increased its stake in Gartner by 28.3% in the 4th quarter. Capital International Investors now owns 4,004,093 shares of the information technology services provider's stock worth $1,010,153,000 after purchasing an additional 884,250 shares in the last quarter. State Street Corp grew its stake in Gartner by 2.8% in the third quarter. State Street Corp now owns 3,510,206 shares of the information technology services provider's stock valued at $922,728,000 after purchasing an additional 96,809 shares in the last quarter. Independent Franchise Partners LLP raised its position in Gartner by 3.5% during the fourth quarter. Independent Franchise Partners LLP now owns 3,308,566 shares of the information technology services provider's stock valued at $834,685,000 after acquiring an additional 112,439 shares in the last quarter. Morgan Stanley lifted its stake in shares of Gartner by 5.8% in the 4th quarter. Morgan Stanley now owns 2,495,575 shares of the information technology services provider's stock valued at $629,585,000 after purchasing an additional 136,233 shares during the last quarter. Finally, AQR Capital Management LLC increased its holdings in shares of Gartner by 51.9% during the 4th quarter. AQR Capital Management LLC now owns 1,892,004 shares of the information technology services provider's stock valued at $477,315,000 after acquiring an additional 646,052 shares during the last quarter. Institutional investors own 91.51% of the company's stock.

Gartner Trading Up 0.9%

Shares of NYSE IT opened at $134.12 on Thursday. The company's fifty day moving average is $146.64 and its 200-day moving average is $168.03. The stock has a market cap of $8.98 billion, a price-to-earnings ratio of 13.25, a P/E/G ratio of 0.74 and a beta of 0.97. Gartner, Inc. has a twelve month low of $124.25 and a twelve month high of $368.73. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 46.98.

Gartner (NYSE:IT - Get Free Report) last released its quarterly earnings data on Tuesday, May 5th. The information technology services provider reported $3.32 EPS for the quarter, beating analysts' consensus estimates of $2.99 by $0.33. The business had revenue of $1.49 billion during the quarter, compared to analysts' expectations of $1.51 billion. Gartner had a net margin of 11.44% and a return on equity of 161.39%. The firm's quarterly revenue was down 1.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.98 EPS. Gartner has set its FY 2026 guidance at 13.250- EPS. Equities research analysts predict that Gartner, Inc. will post 13.61 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have weighed in on IT shares. Barclays cut their target price on shares of Gartner from $180.00 to $150.00 and set an "equal weight" rating for the company in a research report on Friday, April 10th. Royal Bank Of Canada dropped their price target on shares of Gartner from $175.00 to $160.00 and set a "sector perform" rating for the company in a research report on Wednesday, May 6th. Morgan Stanley dropped their target price on shares of Gartner from $183.00 to $173.00 and set an "equal weight" rating for the company in a research report on Friday, July 10th. Wells Fargo & Company cut their price objective on Gartner from $140.00 to $120.00 and set an "underweight" rating for the company in a research report on Wednesday, June 24th. Finally, The Goldman Sachs Group set a $162.00 price objective on shares of Gartner in a research report on Tuesday, May 5th. Two analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $173.10.

Gartner 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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