National Pension Service Has $48.03 Million Holdings in Gartner, Inc. $IT

Key Points

• The National Pension Service increased its stake in Gartner, Inc. by 9.8%, acquiring an additional 10,168 shares during the first quarter, bringing its total ownership to 114,427 shares, valued at approximately $48 million.
• Gartner recently reported an EPS of $3.53 for the last quarter, surpassing analysts' expectations, with a year-over-year revenue growth of 5.7%.
• Multiple analysts have revised their price targets for Gartner, with Barclays and UBS Group lowering their targets to $320 and $270 respectively, indicating a cautious outlook on the stock's performance.

National Pension Service raised its stake in Gartner, Inc. (NYSE:IT - Free Report) by 9.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 114,427 shares of the information technology services provider's stock after buying an additional 10,168 shares during the period. National Pension Service owned approximately 0.15% of Gartner worth $48,030,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. GAMMA Investing LLC boosted its position in Gartner by 40,841.0% during the first quarter. GAMMA Investing LLC now owns 499,071 shares of the information technology services provider's stock worth $209,480,000 after acquiring an additional 497,852 shares during the last quarter. Nuveen LLC acquired a new position in shares of Gartner in the 1st quarter valued at $128,318,000. BNP Paribas Financial Markets boosted its holdings in shares of Gartner by 184.6% in the 4th quarter. BNP Paribas Financial Markets now owns 390,472 shares of the information technology services provider's stock valued at $189,172,000 after purchasing an additional 253,288 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Gartner by 20.5% in the 1st quarter. JPMorgan Chase & Co. now owns 1,245,563 shares of the information technology services provider's stock valued at $522,813,000 after purchasing an additional 211,842 shares during the last quarter. Finally, Millennium Management LLC boosted its holdings in shares of Gartner by 178.0% in the 4th quarter. Millennium Management LLC now owns 297,277 shares of the information technology services provider's stock valued at $144,022,000 after purchasing an additional 190,326 shares during the last quarter. 91.51% of the stock is owned by hedge funds and other institutional investors.

Gartner Price Performance

Shares of NYSE:IT traded up $0.46 during trading on Monday, reaching $239.15. The company had a trading volume of 1,923,728 shares, compared to its average volume of 802,770. The firm's fifty day moving average is $356.35 and its 200 day moving average is $417.02. The firm has a market capitalization of $18.41 billion, a PE ratio of 14.72 and a beta of 1.19. Gartner, Inc. has a twelve month low of $223.65 and a twelve month high of $584.01. 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 released 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 net margin of 19.71% and a return on equity of 82.63%. The business had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $1.68 billion. During the same period in the previous year, the firm earned $3.22 EPS. The business's revenue for the quarter was up 5.7% on a year-over-year basis. On average, equities analysts forecast that Gartner, Inc. will post 12.5 EPS for the current year.

Wall Street Analyst Weigh In

IT has been the topic of several recent research reports. UBS Group restated a "neutral" rating and set a $270.00 target price (down previously from $480.00) on shares of Gartner in a report on Wednesday, August 6th. The Goldman Sachs Group dropped their price target on shares of Gartner from $535.00 to $457.00 and set a "buy" rating on the stock in a research note on Wednesday, August 6th. Barclays dropped their price target on shares of Gartner from $475.00 to $320.00 and set an "overweight" rating on the stock in a research note on Wednesday, August 6th. Wells Fargo & Company dropped their price target on shares of Gartner from $345.00 to $225.00 and set an "underweight" rating on the stock in a research note on Wednesday, August 6th. Finally, Morgan Stanley dropped their price target 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. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus 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.