Northern Trust Corp Increases Stake in Gartner, Inc. $IT

Key Points

• Northern Trust Corp increased its stake in Gartner, Inc. by 11.0% in Q1, owning approximately 1.31% of the company, worth about $422.5 million.
• Gartner's latest earnings report revealed an EPS of $3.53, exceeding estimates, and a revenue increase of 5.7% year-over-year.
• Wall Street analysts have revised Gartner's target prices downward, with estimates now ranging from $225.00 to $320.00, indicating a cautious outlook.

Northern Trust Corp increased its position in Gartner, Inc. (NYSE:IT - Free Report) by 11.0% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 1,006,655 shares of the information technology services provider's stock after acquiring an additional 99,822 shares during the quarter. Northern Trust Corp owned about 1.31% of Gartner worth $422,533,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in IT. Cary Street Partners Financial LLC purchased a new stake in Gartner in the 4th quarter worth about $27,000. Itau Unibanco Holding S.A. increased its holdings in Gartner by 453.3% in the 4th quarter. Itau Unibanco Holding S.A. now owns 83 shares of the information technology services provider's stock worth $40,000 after acquiring an additional 68 shares during the last quarter. Olde Wealth Management LLC purchased a new stake in Gartner in the 1st quarter worth about $42,000. GW&K Investment Management LLC increased its holdings in 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 during the last quarter. Finally, Wayfinding Financial LLC purchased a new position in Gartner during the 1st quarter valued at about $55,000. Hedge funds and other institutional investors own 91.51% of the company's stock.

Gartner Stock Up 1.4%

Shares of NYSE IT opened at $242.2950 on Wednesday. Gartner, Inc. has a 12 month low of $223.65 and a 12 month high of $584.01. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 1.61. The firm has a market capitalization of $18.35 billion, a price-to-earnings ratio of 14.91 and a beta of 1.19. The business has a 50-day moving average of $349.10 and a 200-day moving average of $413.69.

Gartner (NYSE:IT - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The information technology services provider reported $3.53 EPS for the quarter, topping the consensus estimate of $3.38 by $0.15. Gartner had a return on equity of 82.63% and a net margin of 19.71%.The company had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.68 billion. During the same quarter in the previous year, the firm earned $3.22 earnings per share. Gartner'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 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Wells Fargo & Company reduced 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. Barclays reduced their target price on Gartner from $475.00 to $320.00 and set an "overweight" rating for the company in a report on Wednesday, August 6th. UBS Group reaffirmed 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. BMO Capital Markets reduced their target price on Gartner from $409.00 to $272.00 and set a "market perform" rating for the company in a report on Wednesday, August 6th. Finally, Morgan Stanley reduced their target price on Gartner from $455.00 to $322.00 and set an "equal weight" rating for the company in a report on Wednesday, August 6th. Three equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $369.25.

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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