Northwest & Ethical Investments L.P. Purchases 1,326 Shares of Gartner, Inc. $IT

Key Points

• Northwest & Ethical Investments L.P. increased its stake in Gartner, Inc. by 236.8% in the 1st quarter, acquiring an additional 1,326 shares, bringing their total holdings to 1,886 shares valued at approximately $790,000.
• Multiple brokerages have cut their price targets for Gartner, with Barclays lowering it from $475.00 to $320.00 and Wells Fargo reducing it from $345.00 to $225.00, reflecting varying perspectives on the stock's future performance.
• Gartner reported earnings of $3.53 EPS for the latest quarter, exceeding analyst expectations, while revenue was $1.66 billion, slightly below the consensus estimate.

Northwest & Ethical Investments L.P. lifted its position in Gartner, Inc. (NYSE:IT - Free Report) by 236.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,886 shares of the information technology services provider's stock after acquiring an additional 1,326 shares during the quarter. Northwest & Ethical Investments L.P.'s holdings in Gartner were worth $790,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. DAVENPORT & Co LLC grew its stake in shares of Gartner by 11.5% in the 1st quarter. DAVENPORT & Co LLC now owns 921 shares of the information technology services provider's stock worth $387,000 after acquiring an additional 95 shares in the last quarter. HighPoint Advisor Group LLC grew its stake in shares of Gartner by 3.6% in the 1st quarter. HighPoint Advisor Group LLC now owns 1,145 shares of the information technology services provider's stock worth $482,000 after acquiring an additional 40 shares in the last quarter. Three Seasons Wealth LLC bought a new stake in shares of Gartner in the 4th quarter worth $731,000. SG Americas Securities LLC grew its stake in shares of Gartner by 3.6% in the 1st quarter. SG Americas Securities LLC now owns 42,389 shares of the information technology services provider's stock worth $17,792,000 after acquiring an additional 1,484 shares in the last quarter. Finally, Brighton Jones LLC bought a new stake in shares of Gartner in the 4th quarter worth $309,000. Institutional investors own 91.51% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on IT. Barclays cut their price target on shares of Gartner from $475.00 to $320.00 and set an "overweight" rating on the stock in a report on Wednesday, August 6th. Wells Fargo & Company cut their price target on shares of Gartner from $345.00 to $225.00 and set an "underweight" rating on the stock in a report on Wednesday, August 6th. BMO Capital Markets cut 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. The Goldman Sachs Group cut their price target on shares of Gartner from $535.00 to $457.00 and set a "buy" rating on the stock in a report on Wednesday, August 6th. Finally, Morgan Stanley cut their price target on shares of Gartner from $455.00 to $322.00 and set an "equal weight" rating on the stock 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 issued a Sell rating to the stock. According to MarketBeat.com, Gartner has an average rating of "Hold" and an average price target of $369.25.

Gartner Price Performance

NYSE IT opened at $242.2950 on Wednesday. The company has a market cap of $18.35 billion, a PE ratio of 14.91 and a beta of 1.19. Gartner, Inc. has a 52 week low of $223.65 and a 52 week high of $584.01. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 1.61. The firm's 50-day simple moving average is $349.10 and its two-hundred day simple moving average is $413.69.

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

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.

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