MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Has $2.59 Million Stock Position in Gartner, Inc. $IT

Key Points

• MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH significantly increased its stake in Gartner, Inc. by 1,767.1% during Q2, bringing its total holdings to 6,404 shares valued at $2.59 million.
• Analysts have a mixed view on Gartner, with Wells Fargo lowering its target price from $345 to $225, while Goldman Sachs maintains a "buy" rating with a reduced target of $457.
• The company reported $3.53 EPS for the last quarter, beating estimates, but revenue of $1.66 billion was slightly below expectations, indicating a 5.7% year-over-year increase.

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH boosted its stake in Gartner, Inc. (NYSE:IT - Free Report) by 1,767.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,404 shares of the information technology services provider's stock after acquiring an additional 6,061 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH's holdings in Gartner were worth $2,589,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of IT. Ransom Advisory Ltd bought a new position in Gartner during the first quarter worth $29,000. Olde Wealth Management LLC acquired a new stake in Gartner during the 1st quarter worth about $42,000. GW&K Investment Management LLC raised its position in shares of Gartner by 210.8% in the 1st 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. Wayfinding Financial LLC acquired a new position in shares of Gartner in the 1st quarter valued at about $55,000. Finally, Bayforest Capital Ltd boosted its position in shares of Gartner by 527.3% during the 1st quarter. Bayforest Capital Ltd now owns 138 shares of the information technology services provider's stock valued at $58,000 after purchasing an additional 116 shares in the last quarter. 91.51% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have weighed in on IT shares. 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. Wolfe Research assumed coverage on shares of Gartner in a research note on Wednesday, September 3rd. They issued a "peer perform" rating for the company. 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. The Goldman Sachs Group reduced their price objective on Gartner from $535.00 to $457.00 and set a "buy" rating for the company in a research note on Wednesday, August 6th. Finally, Royal Bank Of Canada began coverage on Gartner in a research report on Tuesday, September 9th. They set a "sector perform" rating and a $263.00 target price on the stock. Three equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $357.44.

Insider Buying and Selling at Gartner

In other news, SVP John J. Rinello sold 105 shares of the stock in a transaction 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 of the company's stock, valued at $805,314.75. This represents a 3.15% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Jose M. Gutierrez acquired 417 shares of the business's stock in a transaction dated Monday, August 18th. The stock was purchased at an average price of $239.80 per share, with a total value of $99,996.60. Following the completion of the acquisition, the director directly owned 2,080 shares in the company, valued at approximately $498,784. This represents a 25.08% increase in their position. The disclosure for this purchase can be found here. 2.30% of the stock is currently owned by insiders.

Gartner Trading Down 0.2%

Shares of Gartner stock opened at $262.37 on Friday. Gartner, Inc. has a 1 year low of $223.65 and a 1 year high of $584.01. The company has a debt-to-equity ratio of 1.61, a current ratio of 1.11 and a quick ratio of 1.11. The stock has a fifty day moving average price of $270.25 and a 200-day moving average price of $366.00. The firm has a market cap of $19.87 billion, a PE ratio of 16.15 and a beta of 1.20.

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

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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