Swedbank AB Has $25.44 Million Stock Position in Gartner, Inc. $IT

Key Points

• Swedbank AB increased its stake in Gartner, Inc. by 10.8% in the second quarter, owning $25.44 million worth of shares after acquiring an additional 6,151 shares.
• Gartner reported $3.53 earnings per share for the last quarter, surpassing estimates, with revenue of $1.66 billion which is a 5.7% year-on-year increase.
• Analysts have recently downgraded Gartner's stock price targets, with Wells Fargo cutting theirs from $345.00 to $225.00, indicating a more cautious outlook on the company's performance.

Swedbank AB lifted its holdings in shares of Gartner, Inc. (NYSE:IT - Free Report) by 10.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 62,926 shares of the information technology services provider's stock after purchasing an additional 6,151 shares during the quarter. Swedbank AB owned 0.08% of Gartner worth $25,436,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the business. Applied Finance Capital Management LLC increased its holdings in shares of Gartner by 1.5% during the first quarter. Applied Finance Capital Management LLC now owns 1,945 shares of the information technology services provider's stock worth $816,000 after purchasing an additional 29 shares during the period. Allworth Financial LP increased its holdings in shares of Gartner by 5.6% during the first quarter. Allworth Financial LP now owns 562 shares of the information technology services provider's stock worth $235,000 after purchasing an additional 30 shares during the period. Brighton Jones LLC increased its holdings in shares of Gartner by 4.9% during the first quarter. Brighton Jones LLC now owns 668 shares of the information technology services provider's stock worth $280,000 after purchasing an additional 31 shares during the period. Siemens Fonds Invest GmbH increased its holdings in shares of Gartner by 4.0% during the fourth quarter. Siemens Fonds Invest GmbH now owns 854 shares of the information technology services provider's stock worth $415,000 after purchasing an additional 33 shares during the period. Finally, Resonant Capital Advisors LLC increased its holdings in shares of Gartner by 1.6% during the first quarter. Resonant Capital Advisors LLC now owns 2,324 shares of the information technology services provider's stock worth $975,000 after purchasing an additional 36 shares during the period. 91.51% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently issued reports on IT. Wells Fargo & Company decreased their price objective on shares of Gartner from $345.00 to $225.00 and set an "underweight" rating on the stock in a research note on Wednesday, August 6th. Morgan Stanley decreased their price objective on shares of Gartner from $455.00 to $322.00 and set an "equal weight" rating on the stock in a research note on Wednesday, August 6th. Wolfe Research began coverage on shares of Gartner in a research note on Wednesday, September 3rd. They issued a "peer perform" rating on the stock. Royal Bank Of Canada began coverage on shares of Gartner in a research note on Tuesday, September 9th. They issued a "sector perform" rating and a $263.00 price objective on the stock. Finally, Barclays decreased their price objective on shares of Gartner from $475.00 to $320.00 and set an "overweight" rating on the stock in a research note on Wednesday, August 6th. Three equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $357.44.

Gartner Price Performance

Shares of NYSE IT traded down $2.16 during midday trading on Tuesday, reaching $257.97. 181,976 shares of the company were exchanged, compared to its average volume of 909,997. The stock has a market cap of $19.54 billion, a P/E ratio of 15.94 and a beta of 1.20. The stock's 50-day moving average price is $276.26 and its 200-day moving average price is $368.93. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 1.61. Gartner, Inc. has a one year low of $223.65 and a one year 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 EPS for the quarter, topping analysts' consensus estimates of $3.38 by $0.15. The company had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.68 billion. Gartner had a net margin of 19.71% and a return on equity of 82.63%. Gartner's revenue was up 5.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.22 earnings per share. Gartner has set its FY 2025 guidance at 11.750- EPS. On average, sell-side analysts anticipate that Gartner, Inc. will post 12.5 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, SVP John J. Rinello sold 105 shares of Gartner 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 owned 3,225 shares in the company, valued at approximately $805,314.75. The trade was a 3.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jose M. Gutierrez bought 417 shares of the company's stock in a transaction that occurred on 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 acquisition, the director owned 2,080 shares of the company's stock, valued at $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 insiders.

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.