Raymond James Financial Inc. Lowers Holdings in Gartner, Inc. $IT

Key Points

• Raymond James Financial Inc. reduced its stake in Gartner, Inc. by 2.4%, owning 333,358 shares valued at approximately $139.9 million as of the latest filing.
• Gartner's stock price has experienced a decline of 1.8%, with analysts adjusting target prices downward, including Morgan Stanley's cut from $455 to $322.
• In its recent earnings report, Gartner reported earnings of $3.53 per share, surpassing estimates, but revenue slightly fell short of expectations at $1.66 billion.

Raymond James Financial Inc. lessened its stake in Gartner, Inc. (NYSE:IT - Free Report) by 2.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 333,358 shares of the information technology services provider's stock after selling 8,203 shares during the quarter. Raymond James Financial Inc. owned 0.43% of Gartner worth $139,924,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of IT. Cary Street Partners Financial LLC purchased a new position in shares of Gartner in the 4th quarter worth about $27,000. Itau Unibanco Holding S.A. raised its position 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 buying an additional 68 shares during the last quarter. Olde Wealth Management LLC purchased a new position in Gartner in the 1st quarter worth about $42,000. GW&K Investment Management LLC raised its position 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 buying an additional 78 shares during the last quarter. Finally, Wayfinding Financial LLC purchased a new position in Gartner in the 1st quarter worth about $55,000. Hedge funds and other institutional investors own 91.51% of the company's stock.

Gartner Trading Down 1.8%

Shares of NYSE:IT opened at $238.75 on Monday. The stock has a 50 day moving average of $356.35 and a 200 day moving average of $417.02. The company has a market cap of $18.38 billion, a PE ratio of 14.69 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. 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 announced its quarterly earnings data on Tuesday, August 5th. The information technology services provider reported $3.53 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.38 by $0.15. The company had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.68 billion. Gartner had a return on equity of 82.63% and a net margin of 19.71%. The firm's revenue was up 5.7% on a year-over-year basis. During the same period in the previous year, the company posted $3.22 EPS. As a group, equities research analysts expect that Gartner, Inc. will post 12.5 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on IT. Morgan Stanley decreased their target price on Gartner from $455.00 to $322.00 and set an "equal weight" rating for the company in a research report on Wednesday, August 6th. Wells Fargo & Company decreased their target price on Gartner from $345.00 to $225.00 and set an "underweight" rating for the company in a research report on Wednesday, August 6th. UBS Group reissued a "neutral" rating and issued a $270.00 target price (down previously from $480.00) on shares of Gartner in a research report on Wednesday, August 6th. The Goldman Sachs Group cut their price target on Gartner from $535.00 to $457.00 and set a "buy" rating for the company in a research note on Wednesday, August 6th. Finally, BMO Capital Markets cut their price target on Gartner from $409.00 to $272.00 and set a "market perform" rating for the company in a research note on Wednesday, August 6th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat, Gartner currently has an average rating of "Hold" and an average target price 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.

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