Mirae Asset Global Investments Co. Ltd. Has $4.62 Million Stock Holdings in Gartner, Inc. $IT

Key Points

• Mirae Asset Global Investments Co. Ltd. increased its holdings in Gartner, Inc. by 21.9% during Q2, now owning 11,431 shares valued at approximately $4.62 million.
• Analyst ratings for Gartner show mixed sentiments, with a consensus target price set at $358.56 and three analysts rating the stock as a Buy.
• The company's most recent quarterly earnings report revealed an EPS of $3.53, surpassing analysts' expectations, along with a year-over-year revenue increase of 5.7%.

Mirae Asset Global Investments Co. Ltd. boosted its position in Gartner, Inc. (NYSE:IT - Free Report) by 21.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,431 shares of the information technology services provider's stock after acquiring an additional 2,056 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in Gartner were worth $4,621,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Ransom Advisory Ltd acquired a new position in shares of Gartner during the 1st quarter worth $29,000. Olde Wealth Management LLC acquired a new stake in Gartner in the first quarter valued at about $42,000. GW&K Investment Management LLC grew 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 valued at $48,000 after acquiring an additional 78 shares during the last quarter. Wayfinding Financial LLC acquired a new position in Gartner during the first quarter worth about $55,000. Finally, Bayforest Capital Ltd lifted its holdings in shares of Gartner by 527.3% in the first quarter. Bayforest Capital Ltd now owns 138 shares of the information technology services provider's stock worth $58,000 after acquiring an additional 116 shares during the last quarter. 91.51% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently issued reports on IT. BMO Capital Markets decreased their price target on shares of Gartner from $409.00 to $272.00 and set a "market perform" rating on the stock in a report on Wednesday, August 6th. Wolfe Research started coverage on shares of Gartner in a research note on Wednesday, September 3rd. They set a "peer perform" rating on the stock. UBS Group upped their price target on shares of Gartner from $270.00 to $280.00 and gave the stock a "neutral" rating in a report on Monday. Royal Bank Of Canada began coverage on Gartner in a report on Tuesday, September 9th. They set a "sector perform" rating and a $263.00 price objective on the stock. Finally, Wells Fargo & Company reduced their price objective on Gartner from $345.00 to $225.00 and set an "underweight" rating on the stock in a research report on Wednesday, August 6th. Three investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, Gartner presently has an average rating of "Hold" and a consensus target price of $358.56.

Gartner Stock Performance

NYSE IT opened at $256.48 on Tuesday. The company has a market capitalization of $19.43 billion, a price-to-earnings ratio of 15.78 and a beta of 1.20. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 1.61. Gartner, Inc. has a twelve month low of $223.65 and a twelve month high of $584.01. The stock has a fifty day simple moving average of $256.71 and a 200 day simple moving average of $355.53.

Gartner (NYSE:IT - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The information technology services provider reported $3.53 EPS for the quarter, beating 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 firm had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.68 billion. During the same quarter in the previous year, the company posted $3.22 EPS. The business's revenue was up 5.7% on a year-over-year basis. Gartner has set its FY 2025 guidance at 11.750- EPS. Sell-side analysts expect that Gartner, Inc. will post 12.5 EPS for the current year.

Insider Buying and Selling

In other news, Director Jose M. Gutierrez bought 417 shares of the firm's stock in a transaction on Monday, August 18th. The stock was acquired at an average price of $239.80 per share, with a total value of $99,996.60. Following the transaction, the director owned 2,080 shares of the company's stock, valued at $498,784. This trade represents a 25.08% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP John J. Rinello sold 105 shares of the business's stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $249.71, for a total transaction of $26,219.55. Following the completion of the transaction, the senior vice president owned 3,225 shares in the company, valued at $805,314.75. This trade represents a 3.15% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 3.60% of the company's stock.

Gartner 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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