Intech Investment Management LLC Increases Stock Position 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 grew its holdings in shares of Gartner, Inc. (NYSE:IT - Free Report) by 76.1% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 14,725 shares of the information technology services provider's stock after acquiring an additional 6,363 shares during the quarter. Intech Investment Management LLC's holdings in Gartner were worth $6,181,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Ransom Advisory Ltd purchased a new position in Gartner in the 1st quarter worth $29,000. Olde Wealth Management LLC bought a new position in shares of Gartner during the first quarter valued at about $42,000. GW&K Investment Management LLC grew its stake in shares of Gartner by 210.8% during the first quarter. GW&K Investment Management LLC now owns 115 shares of the information technology services provider's stock valued at $48,000 after buying an additional 78 shares during the last quarter. Wayfinding Financial LLC purchased a new position in shares of Gartner in the first quarter worth about $55,000. Finally, Bayforest Capital Ltd lifted its stake in shares of Gartner by 527.3% in the 1st quarter. Bayforest Capital Ltd now owns 138 shares of the information technology services provider's stock valued at $58,000 after acquiring an additional 116 shares during the last quarter. Hedge funds and other institutional investors own 91.51% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on IT. Morgan Stanley reduced their price target on Gartner from $455.00 to $322.00 and set an "equal weight" rating on the stock in a research report on Wednesday, August 6th. The Goldman Sachs Group cut their target price on shares of Gartner from $535.00 to $457.00 and set a "buy" rating on the stock in a report on Wednesday, August 6th. Barclays lowered their price target on shares of Gartner from $475.00 to $320.00 and set an "overweight" rating for the company in a report on Wednesday, August 6th. Royal Bank Of Canada assumed coverage on Gartner in a report on Tuesday, September 9th. They set a "sector perform" rating and a $263.00 target price for the company. Finally, Wells Fargo & Company dropped their price target on Gartner from $345.00 to $225.00 and set an "underweight" rating for the company in a research note on Wednesday, August 6th. Three research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $357.44.

Gartner Stock Up 2.6%

Shares of NYSE:IT traded up $6.28 during trading on Friday, hitting $247.40. The stock had a trading volume of 2,214,210 shares, compared to its average volume of 1,311,042. The company has a market capitalization of $18.74 billion, a PE ratio of 15.22 and a beta of 1.20. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 1.61. The firm's fifty day moving average is $292.34 and its 200 day moving average is $378.76. Gartner, Inc. has a 12 month low of $223.65 and a 12 month high of $584.01.

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

Insider Activity

In other news, SVP John J. Rinello sold 105 shares of the company's stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $249.71, for a total value of $26,219.55. Following the transaction, the senior vice president owned 3,225 shares in the company, valued at approximately $805,314.75. This represents a 3.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Jose M. Gutierrez purchased 417 shares of Gartner stock in a transaction that occurred on Monday, August 18th. The shares were purchased at an average cost of $239.80 per share, with a total value of $99,996.60. Following the transaction, the director directly owned 2,080 shares of the company's stock, valued at $498,784. This represents a 25.08% increase in their ownership of the stock. The disclosure for this purchase can be found here. 3.60% of the stock is currently owned by insiders.

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.