T. Rowe Price Investment Management Inc. Increases Stock Position in Gartner, Inc. $IT

Key Points

• T. Rowe Price Investment Management Inc. significantly increased its stake in Gartner, Inc. by 692.2% during the first quarter, owning over 1 million shares valued at approximately $447 million.
• Multiple analysts have recently downgraded their price targets for Gartner, with Goldman Sachs lowering its target from $535 to $457, while UBS revised theirs from $480 to $270, reflecting a cautious outlook on the stock.
• Gartner reported a net margin of 19.71% and earnings per share of $3.53 for the last quarter, beating estimates, though its revenue slightly missed expectations at $1.66 billion.

T. Rowe Price Investment Management Inc. raised its holdings in Gartner, Inc. (NYSE:IT - Free Report) by 692.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,066,732 shares of the information technology services provider's stock after purchasing an additional 932,077 shares during the period. T. Rowe Price Investment Management Inc. owned 1.39% of Gartner worth $447,751,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. DAVENPORT & Co LLC lifted its holdings in shares of Gartner by 11.5% in the first quarter. DAVENPORT & Co LLC now owns 921 shares of the information technology services provider's stock valued at $387,000 after purchasing an additional 95 shares in the last quarter. HighPoint Advisor Group LLC lifted its holdings in shares of Gartner by 3.6% in the first quarter. HighPoint Advisor Group LLC now owns 1,145 shares of the information technology services provider's stock valued at $482,000 after purchasing an additional 40 shares in the last quarter. Three Seasons Wealth LLC purchased a new stake in shares of Gartner in the fourth quarter valued at about $731,000. SG Americas Securities LLC lifted its holdings in shares of Gartner by 3.6% in the first quarter. SG Americas Securities LLC now owns 42,389 shares of the information technology services provider's stock valued at $17,792,000 after purchasing an additional 1,484 shares in the last quarter. Finally, Brighton Jones LLC acquired a new position in shares of Gartner in the fourth quarter valued at approximately $309,000. Hedge funds and other institutional investors own 91.51% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on IT shares. The Goldman Sachs Group cut their price objective on shares of Gartner from $535.00 to $457.00 and set a "buy" rating for the company in a research report on Wednesday, August 6th. Barclays cut their price objective on shares of Gartner from $475.00 to $320.00 and set an "overweight" rating for the company in a research report on Wednesday, August 6th. UBS Group reissued a "neutral" rating and issued a $270.00 price objective (down previously from $480.00) on shares of Gartner in a research report on Wednesday, August 6th. Wells Fargo & Company cut their price objective on shares of Gartner from $345.00 to $225.00 and set an "underweight" rating for the company in a research report on Wednesday, August 6th. Finally, BMO Capital Markets cut their price objective on shares of Gartner from $409.00 to $272.00 and set a "market perform" rating for the company in a research report on Wednesday, August 6th. Three equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, Gartner currently has a consensus rating of "Hold" and an average price target of $369.25.

Gartner Stock Performance

Shares of IT stock opened at $242.2950 on Wednesday. Gartner, Inc. has a one year low of $223.65 and a one year high of $584.01. 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 50 day moving average price of $349.10 and a 200 day moving average price of $413.69. The firm has a market capitalization of $18.35 billion, a price-to-earnings ratio of 14.91 and a beta of 1.19.

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

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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