Resona Asset Management Co. Ltd. Sells 218,512 Shares of Gartner, Inc. $IT

Key Points

• Resona Asset Management cut its Gartner stake by 89.4% in the first quarter, selling 218,512 shares and leaving it with 26,001 shares valued at about $4.12 million.
• Gartner reported better-than-expected earnings for the latest quarter, with EPS of $3.32 versus estimates of $2.99, though revenue came in slightly below forecasts and was down 1.5% year over year.
• Analysts remain cautious: several firms lowered price targets, and the stock currently has a Hold consensus with an average target price of $173.10.

Resona Asset Management Co. Ltd. lowered its position in Gartner, Inc. (NYSE:IT - Free Report) by 89.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 26,001 shares of the information technology services provider's stock after selling 218,512 shares during the quarter. Resona Asset Management Co. Ltd.'s holdings in Gartner were worth $4,120,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in IT. Brighton Jones LLC bought a new stake in Gartner in the fourth quarter worth about $309,000. Sivia Capital Partners LLC bought a new position in shares of Gartner during the second quarter valued at approximately $336,000. Cresset Asset Management LLC grew its stake in shares of Gartner by 15.2% during the second quarter. Cresset Asset Management LLC now owns 1,446 shares of the information technology services provider's stock valued at $585,000 after buying an additional 191 shares during the last quarter. Sei Investments Co. raised its holdings in shares of Gartner by 9.2% in the second quarter. Sei Investments Co. now owns 91,205 shares of the information technology services provider's stock worth $36,867,000 after buying an additional 7,678 shares during the period. Finally, The Manufacturers Life Insurance Company raised its holdings in shares of Gartner by 111.5% in the second quarter. The Manufacturers Life Insurance Company now owns 95,301 shares of the information technology services provider's stock worth $38,523,000 after buying an additional 50,251 shares during the period. Institutional investors own 91.51% of the company's stock.

Gartner Stock Up 0.0%

Shares of Gartner stock opened at $133.26 on Monday. The company has a debt-to-equity ratio of 46.98, a current ratio of 0.94 and a quick ratio of 0.94. The stock has a market cap of $8.92 billion, a price-to-earnings ratio of 13.17, a PEG ratio of 0.73 and a beta of 0.97. The firm's 50-day moving average is $147.47 and its two-hundred day moving average is $170.46. Gartner, Inc. has a 1 year low of $124.25 and a 1 year high of $386.05.

Gartner (NYSE:IT - Get Free Report) last posted its quarterly earnings results on Tuesday, May 5th. The information technology services provider reported $3.32 EPS for the quarter, beating the consensus estimate of $2.99 by $0.33. Gartner had a net margin of 11.44% and a return on equity of 161.39%. The business had revenue of $1.49 billion during the quarter, compared to analyst estimates of $1.51 billion. During the same quarter in the previous year, the business posted $2.98 EPS. The company's quarterly revenue was down 1.5% compared to the same quarter last year. Gartner has set its FY 2026 guidance at 13.250- EPS. As a group, research analysts expect that Gartner, Inc. will post 13.65 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on IT. Barclays dropped their price objective on Gartner from $180.00 to $150.00 and set an "equal weight" rating for the company in a report on Friday, April 10th. The Goldman Sachs Group set a $162.00 target price on Gartner in a research report on Tuesday, May 5th. Weiss Ratings cut shares of Gartner from a "sell (d+)" rating to a "sell (d)" rating in a report on Wednesday, June 24th. Wells Fargo & Company decreased their price objective on shares of Gartner from $140.00 to $120.00 and set an "underweight" rating for the company in a report on Wednesday, June 24th. Finally, Morgan Stanley reduced their target price on shares of Gartner from $183.00 to $173.00 and set an "equal weight" rating on the stock in a research report on Friday. Two analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $173.10.

Gartner Company Profile

Gartner, Inc is a global research and advisory firm that provides insights, advice and tools for leaders in IT, finance, HR, customer service and other business functions. Founded in 1979 and headquartered in Stamford, Connecticut, Gartner specializes in helping organizations make informed decisions about technology, operations and strategy through a combination of published research, advisory services, consulting, executive programs and events.

The company's offerings include proprietary research reports, market forecasts, and analytical frameworks that are widely used by technology buyers and vendors.

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