Hsbc Holdings PLC Sells 287,848 Shares of Gartner, Inc. $IT

Hsbc Holdings PLC lowered its position in Gartner, Inc. (NYSE:IT - Free Report) by 74.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 98,605 shares of the information technology services provider's stock after selling 287,848 shares during the period. Hsbc Holdings PLC owned 0.16% of Gartner worth $12,785,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the business. DV Equities LLC acquired a new position in shares of Gartner during the 4th quarter worth $25,000. Entrust Financial LLC acquired a new stake in shares of Gartner in the 4th quarter valued at $26,000. Elyxium Wealth LLC bought a new stake in Gartner in the fourth quarter worth $28,000. Osterweis Capital Management Inc. bought a new stake in Gartner in the second quarter worth $48,000. Finally, Clearstead Trust LLC raised its holdings in Gartner by 351.6% during the fourth quarter. Clearstead Trust LLC now owns 140 shares of the information technology services provider's stock valued at $35,000 after buying an additional 109 shares in the last quarter. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Gartner Price Performance

Shares of IT stock opened at $172.58 on Wednesday. The stock's fifty day simple moving average is $165.89 and its 200 day simple moving average is $157.69. Gartner, Inc. has a one year low of $124.25 and a one year high of $265.85. The firm has a market cap of $10.90 billion, a price-to-earnings ratio of 15.48, a P/E/G ratio of 0.65 and a beta of 0.96. The company has a debt-to-equity ratio of 46.98, a current ratio of 0.88 and a quick ratio of 0.88.

Gartner (NYSE:IT - Get Free Report) last released its quarterly earnings data on Tuesday, August 4th. The information technology services provider reported $4.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.76 by $0.61. The firm had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.65 billion. Gartner had a return on equity of 525.46% and a net margin of 11.99%.The business's revenue for the quarter was down .6% compared to the same quarter last year. During the same period in the prior year, the company posted $3.53 earnings per share. Gartner has set its FY 2026 guidance at 14.000- EPS. On average, analysts expect that Gartner, Inc. will post 14.39 earnings per share for the current fiscal year.

Insider Activity

In other Gartner news, EVP Akhil Jain sold 700 shares of the company's stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $201.73, for a total transaction of $141,211.00. Following the sale, the executive vice president directly owned 8,130 shares of the company's stock, valued at approximately $1,640,064.90. This represents a 7.93% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Robin Kranich sold 3,278 shares of the firm's stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $196.50, for a total transaction of $644,127.00. Following the sale, the executive vice president directly owned 20,358 shares of the company's stock, valued at approximately $4,000,347. The trade was a 13.87% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 6,043 shares of company stock valued at $1,172,858 in the last ninety days. 2.60% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on IT shares. BMO Capital Markets decreased their price target on Gartner from $214.00 to $206.00 and set a "market perform" rating for the company in a research note on Tuesday, August 18th. Wells Fargo & Company upped their target price on Gartner from $120.00 to $150.00 and gave the stock an "underweight" rating in a research report on Wednesday, August 5th. Weiss Ratings upgraded Gartner from a "sell (d)" rating to a "sell (d+)" rating in a report on Thursday, August 13th. Truist Financial set a $205.00 price objective on shares of Gartner in a research note on Wednesday, August 5th. Finally, UBS Group upped their price objective on shares of Gartner from $164.00 to $196.00 and gave the stock a "neutral" rating in a report on Wednesday, August 5th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, six have issued a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, Gartner has a consensus rating of "Hold" and a consensus price target of $187.30.

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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