Spear Holdings RSC Ltd Buys New Holdings in Gartner, Inc. $IT

Key Points

• Spear Holdings RSC Ltd acquired a new stake in Gartner, Inc. valued at approximately $41.9 million, making up about 3.1% of its portfolio.
• Several institutional investors, including Vanguard Group and T. Rowe Price, have significantly increased their holdings in Gartner, which is now owned 91.51% by institutional investors.
• Wall Street analysts have mixed views on Gartner, with a consensus rating of "Hold" and an average price target of $358.56, following recent price target reductions by major firms.

Spear Holdings RSC Ltd bought a new stake in Gartner, Inc. (NYSE:IT - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 103,735 shares of the information technology services provider's stock, valued at approximately $41,932,000. Gartner makes up approximately 3.1% of Spear Holdings RSC Ltd's portfolio, making the stock its 13th biggest holding. Spear Holdings RSC Ltd owned 0.13% of Gartner at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in Gartner by 1.8% in the first quarter. Vanguard Group Inc. now owns 9,433,449 shares of the information technology services provider's stock valued at $3,959,596,000 after purchasing an additional 164,810 shares in the last quarter. Generation Investment Management LLP boosted its holdings in Gartner by 16.5% in the first quarter. Generation Investment Management LLP now owns 1,341,342 shares of the information technology services provider's stock valued at $563,015,000 after purchasing an additional 189,514 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in Gartner by 20.5% in the first quarter. JPMorgan Chase & Co. now owns 1,245,563 shares of the information technology services provider's stock valued at $522,813,000 after purchasing an additional 211,842 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its holdings in Gartner by 692.2% in the first quarter. T. Rowe Price Investment Management Inc. now owns 1,066,732 shares of the information technology services provider's stock valued at $447,751,000 after purchasing an additional 932,077 shares in the last quarter. Finally, Northern Trust Corp boosted its holdings in Gartner by 11.0% in the first quarter. Northern Trust Corp now owns 1,006,655 shares of the information technology services provider's stock valued at $422,533,000 after purchasing an additional 99,822 shares in the last quarter. 91.51% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

IT has been the subject of a number of research analyst reports. Morgan Stanley lowered their price target on Gartner from $455.00 to $322.00 and set an "equal weight" rating for the company in a report on Wednesday, August 6th. Barclays reduced their price objective on Gartner from $475.00 to $320.00 and set an "overweight" rating for the company in a research note on Wednesday, August 6th. Royal Bank Of Canada assumed coverage on Gartner in a research note on Tuesday, September 9th. They issued a "sector perform" rating and a $263.00 price objective for the company. Wells Fargo & Company reduced their price objective on Gartner from $345.00 to $225.00 and set an "underweight" rating for the company in a research note on Wednesday, August 6th. Finally, Weiss Ratings reiterated a "hold (c-)" rating on shares of Gartner in a research note on Saturday, September 27th. Three analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $358.56.

Gartner Stock Performance

Gartner stock opened at $256.48 on Tuesday. The company has a debt-to-equity ratio of 1.61, a quick ratio of 1.11 and a current ratio of 1.11. The company has a market capitalization of $19.43 billion, a price-to-earnings ratio of 15.78 and a beta of 1.20. Gartner, Inc. has a fifty-two week low of $223.65 and a fifty-two week high of $584.01. The stock has a fifty day moving average of $256.71 and a two-hundred day moving average of $355.53.

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

Insider Transactions at Gartner

In other news, SVP John J. Rinello sold 105 shares of the firm's stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $249.71, for a total value of $26,219.55. Following the transaction, the senior vice president directly owned 3,225 shares in the company, valued at $805,314.75. This trade represents a 3.15% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Jose M. Gutierrez acquired 417 shares of the business's stock in a transaction dated Monday, August 18th. The stock was purchased at an average price of $239.80 per share, for a total transaction of $99,996.60. Following the completion of the acquisition, the director owned 2,080 shares in the company, valued at approximately $498,784. This trade represents a 25.08% increase in their ownership of the stock. The disclosure for this purchase can be found here. 3.60% of the stock is currently owned by company insiders.

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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