Swedbank AB Sells 14,847 Shares of Gartner, Inc. $IT

Key Points

• Swedbank AB reduced its stake in Gartner by 25.7% in the first quarter, selling 14,847 shares and leaving it with 42,883 shares valued at about $6.79 million.
• Gartner reported stronger-than-expected quarterly earnings, posting $3.32 EPS versus the $2.99 consensus, though revenue came in slightly below estimates at $1.49 billion and was down 1.5% year over year.
• Analysts remain cautious on Gartner after multiple target price cuts; the stock now has a consensus rating of “Hold” with an average price target of $173.10.

Swedbank AB decreased its holdings in Gartner, Inc. (NYSE:IT - Free Report) by 25.7% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 42,883 shares of the information technology services provider's stock after selling 14,847 shares during the quarter. Swedbank AB owned 0.06% of Gartner worth $6,790,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of IT. Physician Wealth Advisors Inc. grew its stake in shares of Gartner by 143.9% in the fourth quarter. Physician Wealth Advisors Inc. now owns 100 shares of the information technology services provider's stock worth $25,000 after acquiring an additional 59 shares during the period. DV Equities LLC bought a new position in Gartner during the fourth quarter valued at approximately $25,000. Rakuten Securities Inc. boosted its holdings in Gartner by 1,980.0% in the fourth quarter. Rakuten Securities Inc. now owns 104 shares of the information technology services provider's stock worth $26,000 after purchasing an additional 99 shares during the last quarter. Entrust Financial LLC purchased a new stake in Gartner in the fourth quarter worth approximately $26,000. Finally, Elyxium Wealth LLC bought a new stake in Gartner in the 4th quarter worth approximately $28,000. Institutional investors own 91.51% of the company's stock.

Gartner Stock Performance

IT traded up $0.57 during trading on Friday, hitting $133.26. The company's stock had a trading volume of 1,226,856 shares, compared to its average volume of 1,407,668. The business's 50 day simple moving average is $147.47 and its 200-day simple moving average is $171.02. The firm has a market cap of $8.92 billion, a PE ratio of 13.17, a P/E/G ratio of 0.73 and a beta of 0.97. Gartner, Inc. has a one year low of $124.25 and a one year high of $386.05. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 46.98.

Gartner (NYSE:IT - Get Free Report) last issued its quarterly earnings data on Tuesday, May 5th. The information technology services provider reported $3.32 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.99 by $0.33. Gartner had a net margin of 11.44% and a return on equity of 161.39%. The firm had revenue of $1.49 billion during the quarter, compared to the consensus estimate of $1.51 billion. During the same quarter in the previous year, the firm posted $2.98 EPS. The company's revenue for the quarter 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, sell-side analysts predict that Gartner, Inc. will post 13.65 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Barclays decreased their target price on shares of Gartner from $180.00 to $150.00 and set an "equal weight" rating for the company in a research note on Friday, April 10th. Weiss Ratings lowered Gartner from a "sell (d+)" rating to a "sell (d)" rating in a report on Wednesday, June 24th. Morgan Stanley reduced their price objective on Gartner from $183.00 to $173.00 and set an "equal weight" rating for the company in a research report on Friday. Royal Bank Of Canada lowered their target price on Gartner from $175.00 to $160.00 and set a "sector perform" rating on the stock in a report on Wednesday, May 6th. Finally, Wells Fargo & Company dropped their target price on Gartner from $140.00 to $120.00 and set an "underweight" rating on the stock in a research report on Wednesday, June 24th. Two analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $173.10.

Gartner 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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