Gartner, Inc. $IT Shares Acquired by Price T Rowe Associates Inc. MD

Key Points

• Price T Rowe Associates Inc. MD increased its holdings in Gartner, Inc. by 4.2% in Q1, now owning 355,196 shares valued at approximately $149 million.
• Gartner reported $3.53 EPS in its latest quarter, exceeding expectations, but revenue was slightly below forecasts at $1.66 billion.
• Recent analyst ratings have resulted in multiple target price reductions for Gartner, with Goldman Sachs setting a new price target of $457.00 while maintaining a "buy" rating.

Price T Rowe Associates Inc. MD increased its stake in Gartner, Inc. (NYSE:IT - Free Report) by 4.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 355,196 shares of the information technology services provider's stock after buying an additional 14,191 shares during the period. Price T Rowe Associates Inc. MD owned about 0.46% of Gartner worth $149,091,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in IT. Brighton Jones LLC bought a new stake in shares of Gartner in the fourth quarter worth $309,000. OneDigital Investment Advisors LLC increased its stake in shares of Gartner by 2.3% in the fourth quarter. OneDigital Investment Advisors LLC now owns 1,496 shares of the information technology services provider's stock worth $725,000 after buying an additional 33 shares during the last quarter. Kovitz Investment Group Partners LLC bought a new stake in shares of Gartner in the fourth quarter worth $705,000. Susquehanna Fundamental Investments LLC bought a new stake in shares of Gartner in the fourth quarter worth $690,000. Finally, Johnson Financial Group Inc. increased its stake in shares of Gartner by 11.7% in the fourth quarter. Johnson Financial Group Inc. now owns 515 shares of the information technology services provider's stock worth $250,000 after buying an additional 54 shares during the last quarter. Institutional investors own 91.51% of the company's stock.

Insider Buying and Selling at Gartner

In other news, Director Jose M. Gutierrez purchased 417 shares of Gartner stock in a transaction dated Monday, August 18th. The stock was bought 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 owned 2,080 shares in the company, valued at $498,784. The trade was a 25.08% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP John J. Rinello sold 105 shares of the business's stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $249.71, for a total transaction of $26,219.55. Following the transaction, the senior vice president directly owned 3,225 shares of the company's stock, valued at approximately $805,314.75. This trade represents a 3.15% decrease in their position. The disclosure for this sale can be found here. Insiders own 2.30% of the company's stock.

Analysts Set New Price Targets

IT has been the subject of a number of research analyst reports. The Goldman Sachs Group dropped their price target on shares of Gartner from $535.00 to $457.00 and set a "buy" rating for the company in a research note on Wednesday, August 6th. Morgan Stanley dropped their price target on shares of Gartner from $455.00 to $322.00 and set an "equal weight" rating for the company in a research note on Wednesday, August 6th. UBS Group reaffirmed a "neutral" rating and issued a $270.00 price objective (down previously from $480.00) on shares of Gartner in a report on Wednesday, August 6th. BMO Capital Markets decreased their price objective on shares of Gartner from $409.00 to $272.00 and set a "market perform" rating for the company in a report on Wednesday, August 6th. Finally, Barclays decreased their price objective on shares of Gartner from $475.00 to $320.00 and set an "overweight" rating for the company in a report on Wednesday, August 6th. Three investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $369.25.

Gartner Stock Performance

Gartner stock traded up $1.07 during mid-day trading on Thursday, reaching $247.43. The company's stock had a trading volume of 881,773 shares, compared to its average volume of 838,335. Gartner, Inc. has a twelve month low of $223.65 and a twelve month high of $584.01. The firm has a market cap of $18.74 billion, a price-to-earnings ratio of 15.23 and a beta of 1.19. 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 business has a 50 day moving average price of $329.61 and a 200-day moving average price of $402.36.

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