Intech Investment Management LLC Raises Stake in Gartner, Inc. $IT

Key Points

• Intech Investment Management LLC increased its holdings in Gartner, Inc. by 76.1% in the first quarter, owning 14,725 shares valued at $6,181,000.
• Gartner reported a quarterly EPS of $3.53, exceeding estimates, but its revenue of $1.66 billion fell short of expectations.
• Analyst ratings for Gartner include three "Buy," six "Hold," and one "Sell," with a consensus target price of $357.44.

Intech Investment Management LLC lifted its stake in shares of Gartner, Inc. (NYSE:IT - Free Report) by 76.1% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 14,725 shares of the information technology services provider's stock after acquiring an additional 6,363 shares during the period. Intech Investment Management LLC's holdings in Gartner were worth $6,181,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. DAVENPORT & Co LLC boosted its stake in shares of Gartner by 11.5% in the 1st quarter. DAVENPORT & Co LLC now owns 921 shares of the information technology services provider's stock worth $387,000 after buying an additional 95 shares during the last quarter. HighPoint Advisor Group LLC lifted its stake in Gartner by 3.6% during the first quarter. HighPoint Advisor Group LLC now owns 1,145 shares of the information technology services provider's stock worth $482,000 after purchasing an additional 40 shares during the last quarter. Dynamic Technology Lab Private Ltd boosted its holdings in shares of Gartner by 94.9% during the first quarter. Dynamic Technology Lab Private Ltd now owns 2,670 shares of the information technology services provider's stock worth $1,121,000 after purchasing an additional 1,300 shares during the period. Goldman Sachs Group Inc. lifted its stake in Gartner by 9.4% in the first quarter. Goldman Sachs Group Inc. now owns 956,223 shares of the information technology services provider's stock worth $401,365,000 after acquiring an additional 82,307 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Gartner by 3.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 670,512 shares of the information technology services provider's stock valued at $281,441,000 after buying an additional 20,945 shares during the period. Institutional investors and hedge funds own 91.51% of the company's stock.

Wall Street Analyst Weigh In

IT has been the subject of a number of recent analyst reports. Royal Bank Of Canada initiated coverage on Gartner in a research report on Tuesday, September 9th. They issued a "sector perform" rating and a $263.00 target price for the company. Wells Fargo & Company dropped their price target on Gartner from $345.00 to $225.00 and set an "underweight" rating on the stock in a research note on Wednesday, August 6th. Morgan Stanley dropped their price target 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 reaffirmed a "neutral" rating and set a $270.00 price target (down previously from $480.00) on shares of Gartner in a research report on Wednesday, August 6th. Finally, Barclays reduced their price target on shares of Gartner from $475.00 to $320.00 and set an "overweight" rating for the company in a research report on Wednesday, August 6th. Three investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Gartner presently has an average rating of "Hold" and an average target price of $357.44.

Insider Buying and Selling

In other news, Director Jose M. Gutierrez purchased 417 shares of the firm's stock in a transaction that occurred on Monday, August 18th. The stock was bought at an average price of $239.80 per share, for a total transaction of $99,996.60. Following the completion of the purchase, the director directly owned 2,080 shares of the company's stock, valued at $498,784. The trade was a 25.08% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP John J. Rinello sold 105 shares of the firm's stock in a transaction that occurred 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 sale, the senior vice president directly owned 3,225 shares in the company, valued at approximately $805,314.75. The trade was a 3.15% decrease in their position. The disclosure for this sale can be found here. 3.60% of the stock is owned by insiders.

Gartner Price Performance

NYSE:IT traded up $2.24 during trading hours on Wednesday, reaching $253.12. 285,640 shares of the company were exchanged, compared to its average volume of 876,340. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 1.61. The stock's 50-day moving average is $286.34 and its 200-day moving average is $376.13. The firm has a market cap of $19.17 billion, a PE ratio of 15.61 and a beta of 1.20. Gartner, Inc. has a twelve month low of $223.65 and a twelve month high of $584.01.

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

Gartner 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.