Magnetar Financial LLC Purchases 18,951 Shares of Gartner, Inc. $IT

Key Points

• Magnetar Financial LLC significantly increased its holdings in Gartner, Inc. by 188.8%, acquiring an additional 18,951 shares, bringing their total to 28,986 shares worth approximately $12.17 million.
• Multiple institutional investors have made recent transactions involving Gartner stock, with 91.51% of the company owned by such investors, indicating strong market interest.
• Analysts have revised their target prices for Gartner, with estimates ranging from a low of $225 to a high of $535, reflecting varied perspectives on the company's future performance.

Magnetar Financial LLC raised its position in shares of Gartner, Inc. (NYSE:IT - Free Report) by 188.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,986 shares of the information technology services provider's stock after acquiring an additional 18,951 shares during the quarter. Magnetar Financial LLC's holdings in Gartner were worth $12,167,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Cary Street Partners Financial LLC purchased a new position in shares of Gartner during the 4th quarter worth approximately $27,000. Itau Unibanco Holding S.A. raised its stake in Gartner by 453.3% during the 4th quarter. Itau Unibanco Holding S.A. now owns 83 shares of the information technology services provider's stock valued at $40,000 after acquiring an additional 68 shares during the last quarter. Olde Wealth Management LLC purchased a new stake in shares of Gartner in the first quarter valued at about $42,000. GW&K Investment Management LLC raised its position in Gartner by 210.8% in the first quarter. GW&K Investment Management LLC now owns 115 shares of the information technology services provider's stock worth $48,000 after acquiring an additional 78 shares in the last quarter. Finally, Wayfinding Financial LLC acquired a new position in Gartner during the first quarter worth $55,000. Hedge funds and other institutional investors own 91.51% of the company's stock.

Gartner Stock Down 0.1%

NYSE:IT traded down $0.37 during trading hours on Tuesday, hitting $250.82. 1,057,310 shares of the company's stock traded hands, compared to its average volume of 840,146. The stock's fifty day moving average price is $320.80 and its two-hundred day moving average price is $395.06. The firm has a market cap of $19.00 billion, a P/E ratio of 15.44 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, Inc. has a twelve month low of $223.65 and a twelve month high of $584.01.

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

Insider Transactions at Gartner

In related news, Director Jose M. Gutierrez acquired 417 shares of the business's stock in a transaction on Monday, August 18th. The stock was bought at an average cost of $239.80 per share, with a total value of $99,996.60. Following the completion of the acquisition, the director owned 2,080 shares in the company, valued at $498,784. The trade was a 25.08% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP John J. Rinello sold 105 shares of the stock in a transaction dated 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. This represents a 3.15% decrease in their position. The disclosure for this sale can be found here. 3.60% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages recently commented on IT. BMO Capital Markets dropped their price target on shares of Gartner from $409.00 to $272.00 and set a "market perform" rating for the company in a research report on Wednesday, August 6th. Wells Fargo & Company dropped their target price on Gartner from $345.00 to $225.00 and set an "underweight" rating on the stock in a research report on Wednesday, August 6th. Morgan Stanley reduced their price objective on shares of Gartner from $455.00 to $322.00 and set an "equal weight" rating on the stock in a research note on Wednesday, August 6th. Barclays lowered their price target on Gartner from $475.00 to $320.00 and set an "overweight" rating for the company in a report on Wednesday, August 6th. Finally, UBS Group reaffirmed a "neutral" rating and set a $270.00 target price (down from $480.00) on shares of Gartner in a report on Wednesday, August 6th. Three equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $369.25.

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.