Legal & General Group Plc Acquires Shares of 216,379 Gartner, Inc. $IT

Key Points

• Legal & General Group Plc acquired 216,379 Gartner shares worth approximately $28 million, giving it a 0.32% stake. Institutional investors collectively own 91.51% of Gartner, with BlackRock also establishing a substantial new position.
• Analysts maintain a consensus “Hold” rating on Gartner, with an average price target of $187.30. Individual targets range from $150 to $205, reflecting mixed views on the stock’s valuation and prospects.
• Gartner exceeded quarterly expectations, reporting $4.37 EPS versus the $3.76 consensus and $1.68 billion in revenue, although revenue declined 0.6% year over year. Shares opened at $198.22, while insiders have sold $528,731 of stock over the past three months.

Legal & General Group Plc bought a new position in shares of Gartner, Inc. (NYSE:IT - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 216,379 shares of the information technology services provider's stock, valued at approximately $28,047,000. Legal & General Group Plc owned about 0.32% of Gartner as of its most recent SEC filing.

A number of other large investors have also modified their holdings of IT. BlackRock Inc. acquired a new stake in shares of Gartner in the second quarter valued at about $676,246,000. Capital International Investors grew its stake in Gartner by 28.3% during the 4th quarter. Capital International Investors now owns 4,004,093 shares of the information technology services provider's stock valued at $1,010,153,000 after acquiring an additional 884,250 shares in the last quarter. State Street Corp grew its stake in Gartner by 2.8% during the 3rd quarter. State Street Corp now owns 3,510,206 shares of the information technology services provider's stock valued at $922,728,000 after acquiring an additional 96,809 shares in the last quarter. Independent Franchise Partners LLP raised its holdings in Gartner by 3.5% in the 4th quarter. Independent Franchise Partners LLP now owns 3,308,566 shares of the information technology services provider's stock valued at $834,685,000 after acquiring an additional 112,439 shares during the last quarter. Finally, Morgan Stanley raised its holdings in Gartner by 5.8% in the 4th quarter. Morgan Stanley now owns 2,495,575 shares of the information technology services provider's stock valued at $629,585,000 after acquiring an additional 136,233 shares during the last quarter. Hedge funds and other institutional investors own 91.51% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on IT shares. Morgan Stanley set a $177.00 target price on shares of Gartner in a research note on Wednesday, August 5th. Royal Bank Of Canada lifted their price objective on Gartner from $160.00 to $164.00 and gave the stock a "sector perform" rating in a research report on Wednesday, August 5th. Truist Financial set a $205.00 price objective on Gartner in a research note on Wednesday, August 5th. Wells Fargo & Company raised their target price on Gartner from $120.00 to $150.00 and gave the stock an "underweight" rating in a research note on Wednesday, August 5th. Finally, UBS Group lifted their price target on Gartner from $164.00 to $196.00 and gave the stock a "neutral" rating in a report on Wednesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Gartner presently has a consensus rating of "Hold" and a consensus price target of $187.30.

Gartner Stock Performance

Shares of Gartner stock opened at $198.22 on Friday. Gartner, Inc. has a 52 week low of $124.25 and a 52 week high of $265.85. The business's fifty day simple moving average is $157.78 and its 200-day simple moving average is $156.26. The firm has a market cap of $12.52 billion, a PE ratio of 17.78, a price-to-earnings-growth ratio of 0.68 and a beta of 0.94. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 46.98.

Gartner (NYSE:IT - Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The information technology services provider reported $4.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.76 by $0.61. Gartner had a net margin of 11.99% and a return on equity of 525.46%. The firm had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.65 billion. During the same period in the previous year, the firm earned $3.53 EPS. Gartner's revenue was down .6% on a year-over-year basis. Gartner has set its FY 2026 guidance at 14.000- EPS. Equities analysts forecast that Gartner, Inc. will post 14.42 earnings per share for the current year.

Insider Transactions at Gartner

In other news, Director Anne Sutherland Fuchs sold 860 shares of Gartner stock in a transaction on Friday, August 7th. The stock was sold at an average price of $184.30, for a total value of $158,498.00. Following the completion of the sale, the director directly owned 8,097 shares of the company's stock, valued at approximately $1,492,277.10. The trade was a 9.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Akhil Jain sold 700 shares of the business's stock in a transaction on Monday, August 24th. The shares were sold at an average price of $201.73, for a total value of $141,211.00. Following the completion of the sale, the executive vice president owned 8,130 shares in the company, valued at $1,640,064.90. This represents a 7.93% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 2,765 shares of company stock worth $528,731. 2.60% of the stock is currently owned by insiders.

Gartner 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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