Lbp Am Sa Cuts Stock Position in Gartner, Inc. $IT

Key Points

• Lbp Am Sa reduced its stake in Gartner, Inc. by 17.1% during Q2, owning 8,625 shares valued at approximately $3.49 million after selling 1,776 shares.
• Gartner recently reported $3.53 EPS for the quarter, exceeding analysts' estimates, while its revenue of $1.66 billion was slightly below expectations.
• Analysts have revised Gartner's price targets significantly, with firms like BMO Capital lowering their objective from $409.00 to $272.00, indicating a shift in market sentiment regarding the stock.

Lbp Am Sa lowered its stake in Gartner, Inc. (NYSE:IT - Free Report) by 17.1% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 8,625 shares of the information technology services provider's stock after selling 1,776 shares during the period. Lbp Am Sa's holdings in Gartner were worth $3,486,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Brighton Jones LLC bought a new position in Gartner in the 4th quarter valued at approximately $309,000. Merit Financial Group LLC lifted its position in Gartner by 15.6% in the 1st quarter. Merit Financial Group LLC now owns 1,842 shares of the information technology services provider's stock valued at $773,000 after acquiring an additional 249 shares in the last quarter. Procyon Advisors LLC lifted its position in Gartner by 3.1% in the 1st quarter. Procyon Advisors LLC now owns 2,723 shares of the information technology services provider's stock valued at $1,143,000 after acquiring an additional 82 shares in the last quarter. UMB Bank n.a. lifted its position in Gartner by 11.0% in the 1st quarter. UMB Bank n.a. now owns 614 shares of the information technology services provider's stock valued at $258,000 after acquiring an additional 61 shares in the last quarter. Finally, Miracle Mile Advisors LLC lifted its position in Gartner by 13.6% in the 1st quarter. Miracle Mile Advisors LLC now owns 585 shares of the information technology services provider's stock valued at $245,000 after acquiring an additional 70 shares in the last quarter. Hedge funds and other institutional investors own 91.51% of the company's stock.

Gartner Price Performance

Shares of Gartner stock opened at $258.05 on Friday. Gartner, Inc. has a one year low of $223.65 and a one year high of $584.01. The stock's fifty day moving average is $260.62 and its 200 day moving average is $359.10. The stock has a market cap of $19.54 billion, a P/E ratio of 15.88 and a beta of 1.20. The company has a debt-to-equity ratio of 1.61, a quick ratio of 1.11 and a current ratio of 1.11.

Gartner (NYSE:IT - Get Free Report) last announced 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. Gartner had a return on equity of 82.63% and a net margin of 19.71%.The company had revenue of $1.66 billion for the quarter, compared to analysts' expectations of $1.68 billion. During the same period last year, the firm earned $3.22 EPS. Gartner's revenue for the quarter was up 5.7% compared to the same quarter last year. Gartner has set its FY 2025 guidance at 11.750- EPS. Sell-side analysts anticipate that Gartner, Inc. will post 12.5 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. BMO Capital Markets lowered their price objective on Gartner from $409.00 to $272.00 and set a "market perform" rating on the stock in a research report on Wednesday, August 6th. UBS Group reaffirmed a "neutral" rating and issued a $270.00 price objective (down from $480.00) on shares of Gartner in a research report on Wednesday, August 6th. 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. Barclays dropped their price target on Gartner from $475.00 to $320.00 and set an "overweight" rating on the stock in a research note on Wednesday, August 6th. Finally, The Goldman Sachs Group dropped their price target on Gartner from $535.00 to $457.00 and set a "buy" rating on the stock in a research note on Wednesday, August 6th. Three research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $357.44.

Insiders Place Their Bets

In related news, Director Jose M. Gutierrez bought 417 shares of the firm's stock in a transaction that occurred on Monday, August 18th. The shares were bought at an average cost of $239.80 per share, with a total value of $99,996.60. Following the acquisition, the director owned 2,080 shares in the company, valued at $498,784. This trade represents a 25.08% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP John J. Rinello sold 105 shares of the firm's stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $249.71, for a total value of $26,219.55. Following the completion of the transaction, the senior vice president directly 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 disclosure for this sale can be found here. 2.30% of the stock is currently owned by company 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.

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