Quantbot Technologies LP Purchases 12,282 Shares of Gartner, Inc. $IT

Key Points

• Quantbot Technologies LP significantly increased its stake in Gartner, Inc. by acquiring an additional 12,282 shares, bringing its total holdings to 26,227 shares valued at approximately $11 million.
• Institutional investors currently own 91.51% of Gartner's stock, reflecting a strong interest in the company from major financial entities.
• Recent analyst reports show a downward revision of target prices for Gartner’s shares, with BMO Capital Markets reducing their target from $409 to $272, prompting a "market perform" rating.

Quantbot Technologies LP increased its holdings in shares of Gartner, Inc. (NYSE:IT - Free Report) by 88.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 26,227 shares of the information technology services provider's stock after buying an additional 12,282 shares during the quarter. Quantbot Technologies LP's holdings in Gartner were worth $11,009,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Brighton Jones LLC acquired a new stake in Gartner during the 4th quarter valued at approximately $309,000. Jump Financial LLC lifted its stake in shares of Gartner by 86.1% in the 4th quarter. Jump Financial LLC now owns 1,446 shares of the information technology services provider's stock valued at $701,000 after purchasing an additional 669 shares during the period. NewEdge Advisors LLC lifted its stake in shares of Gartner by 3.4% in the 4th quarter. NewEdge Advisors LLC now owns 4,285 shares of the information technology services provider's stock valued at $2,076,000 after purchasing an additional 142 shares during the period. Marshall Wace LLP lifted its stake in shares of Gartner by 701.5% in the 4th quarter. Marshall Wace LLP now owns 7,574 shares of the information technology services provider's stock valued at $3,669,000 after purchasing an additional 6,629 shares during the period. Finally, First Trust Advisors LP lifted its stake in shares of Gartner by 108.5% in the 4th quarter. First Trust Advisors LP now owns 45,772 shares of the information technology services provider's stock valued at $22,175,000 after purchasing an additional 23,815 shares during the period. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

IT has been the subject of several analyst reports. BMO Capital Markets decreased their target price on shares of Gartner from $409.00 to $272.00 and set a "market perform" rating for the company in a research note on Wednesday, August 6th. Wells Fargo & Company decreased their target price on shares of Gartner from $345.00 to $225.00 and set an "underweight" rating for the company in a research note on Wednesday, August 6th. Barclays cut their price target 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. UBS Group reissued a "neutral" rating and issued a $270.00 price target (down previously from $480.00) on shares of Gartner in a report on Wednesday, August 6th. Finally, The Goldman Sachs Group cut their price target on shares of Gartner from $535.00 to $457.00 and set a "buy" rating for the company in a report on Wednesday, August 6th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $369.25.

Gartner Stock Performance

Shares of IT opened at $238.75 on Monday. 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 cap of $18.38 billion, a PE ratio of 14.69 and a beta of 1.19. The company's 50 day simple moving average is $356.35 and its 200-day simple moving average is $417.02. Gartner, Inc. has a 12-month low of $223.65 and a 12-month high of $584.01.

Gartner (NYSE:IT - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The information technology services provider reported $3.53 earnings per share 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 firm had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.68 billion. During the same period last year, the company earned $3.22 earnings per share. The company's revenue for the quarter was up 5.7% on a year-over-year basis. As a group, equities analysts predict that Gartner, Inc. will post 12.5 EPS for the current year.

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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