Korea Investment CORP Acquires 8,540 Shares of Gartner, Inc. $IT

Key Points

• Korea Investment CORP has increased its holdings in Gartner, Inc. by 16.5%, acquiring an additional 8,540 shares during the first quarter, bringing its total ownership to $25,303,000.
• The company reported $3.53 earnings per share for the latest quarter, exceeding analysts' expectations, with a year-over-year revenue increase of 5.7%.
• Multiple brokerages have downgraded their price targets for Gartner, with Barclays cutting theirs from $475.00 to $320.00, reflecting a more cautious outlook on the stock.

Korea Investment CORP increased its holdings in shares of Gartner, Inc. (NYSE:IT - Free Report) by 16.5% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 60,282 shares of the information technology services provider's stock after buying an additional 8,540 shares during the quarter. Korea Investment CORP owned 0.08% of Gartner worth $25,303,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Northern Trust Corp grew its position in Gartner by 11.0% in the first quarter. Northern Trust Corp now owns 1,006,655 shares of the information technology services provider's stock valued at $422,533,000 after acquiring an additional 99,822 shares during the last quarter. Brooklyn Investment Group boosted its stake in shares of Gartner by 47.1% in the 1st quarter. Brooklyn Investment Group now owns 553 shares of the information technology services provider's stock valued at $232,000 after purchasing an additional 177 shares in the last quarter. CacheTech Inc. bought a new stake in shares of Gartner during the 1st quarter valued at approximately $239,000. Corient IA LLC bought a new stake in shares of Gartner during the 1st quarter valued at approximately $583,000. Finally, George Kaiser Family Foundation acquired a new position in Gartner during the 1st quarter worth approximately $239,000. 91.51% of the stock is owned by institutional investors and hedge funds.

Gartner Trading Up 1.4%

NYSE IT opened at $242.2950 on Wednesday. The stock has a market capitalization of $18.35 billion, a P/E ratio of 14.91 and a beta of 1.19. The business has a 50 day simple moving average of $349.10 and a 200 day simple moving average of $413.69. The company has a debt-to-equity ratio of 1.61, a current ratio of 1.11 and a quick ratio of 1.11. Gartner, Inc. has a one year low of $223.65 and a one year high of $584.01.

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

Wall Street Analyst Weigh In

A number of brokerages have weighed in on IT. Barclays cut their target price on shares of Gartner from $475.00 to $320.00 and set an "overweight" rating on the stock in a research report on Wednesday, August 6th. BMO Capital Markets cut their price objective on Gartner from $409.00 to $272.00 and set a "market perform" rating on the stock in a report on Wednesday, August 6th. The Goldman Sachs Group reduced their price objective on Gartner from $535.00 to $457.00 and set a "buy" rating on the stock in a research report on Wednesday, August 6th. Wells Fargo & Company lowered their target price on Gartner from $345.00 to $225.00 and set an "underweight" rating for the company in a report on Wednesday, August 6th. Finally, UBS Group reissued a "neutral" rating and set a $270.00 price target (down from $480.00) on shares of Gartner in a research note on Wednesday, August 6th. Three investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Gartner has an average rating of "Hold" and an average target price of $369.25.

Gartner Company 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.

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