Taikang Asset Management Hong Kong Co Ltd Raises Stock Position in Gartner, Inc. $IT

Key Points

• Taikang Asset Management Hong Kong Co Ltd increased its stake in Gartner, Inc. by 30% during the first quarter, owning a total of 6,693 shares valued at approximately $2.81 million.
• Several analysts have adjusted their price targets for Gartner, with Goldman Sachs lowering it from $535 to $457, indicating a shift in market expectations.
• After the latest earnings report, Gartner posted an EPS of $3.53, beating estimates, but its revenue fell short of expectations at $1.66 billion for the quarter.

Taikang Asset Management Hong Kong Co Ltd boosted its stake in shares of Gartner, Inc. (NYSE:IT - Free Report) by 30.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 6,693 shares of the information technology services provider's stock after purchasing an additional 1,545 shares during the period. Taikang Asset Management Hong Kong Co Ltd's holdings in Gartner were worth $2,809,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the stock. Cary Street Partners Financial LLC purchased a new stake in shares of Gartner during the fourth quarter valued at $27,000. Itau Unibanco Holding S.A. grew its stake in Gartner by 453.3% during the 4th quarter. Itau Unibanco Holding S.A. now owns 83 shares of the information technology services provider's stock valued at $40,000 after purchasing an additional 68 shares during the last quarter. Olde Wealth Management LLC purchased a new position in shares of Gartner in the first quarter worth about $42,000. GW&K Investment Management LLC lifted its holdings in shares of Gartner by 210.8% during the first quarter. GW&K Investment Management LLC now owns 115 shares of the information technology services provider's stock worth $48,000 after purchasing an additional 78 shares during the period. Finally, Wayfinding Financial LLC purchased a new stake in Gartner in the first quarter valued at approximately $55,000. Institutional investors and hedge funds own 91.51% of the company's stock.

Insider Transactions at Gartner

In related news, 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 approximately $498,784. This trade represents a 25.08% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP John J. Rinello sold 105 shares of the business's stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $249.71, for a total value of $26,219.55. Following the completion of the sale, the senior vice president directly owned 3,225 shares in the company, valued at approximately $805,314.75. The trade was a 3.15% decrease in their position. The disclosure for this sale can be found here. 2.30% of the stock is owned by company insiders.

Gartner Price Performance

Shares of NYSE:IT traded up $1.07 during trading on Thursday, reaching $247.43. The stock had a trading volume of 881,773 shares, compared to its average volume of 1,866,382. The company has a debt-to-equity ratio of 1.61, a quick ratio of 1.11 and a current ratio of 1.11. Gartner, Inc. has a 1-year low of $223.65 and a 1-year high of $584.01. The stock has a market cap of $18.74 billion, a PE ratio of 17.04 and a beta of 1.19. The business has a fifty day moving average price of $326.58 and a 200-day moving average price of $400.42.

Gartner (NYSE:IT - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The information technology services provider reported $3.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.38 by $0.15. The company had revenue of $1.66 billion during the quarter, compared to analysts' expectations 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 prior year, the company earned $3.22 EPS. Gartner has set its FY 2025 guidance at 11.750- EPS. On average, equities analysts forecast that Gartner, Inc. will post 12.5 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on IT shares. UBS Group reissued a "neutral" rating and set a $270.00 price target (down from $480.00) on shares of Gartner in a research report on Wednesday, August 6th. Morgan Stanley reduced their target price on shares of Gartner from $455.00 to $322.00 and set an "equal weight" rating for the company in a report on Wednesday, August 6th. Wells Fargo & Company lowered their price target on shares of Gartner from $345.00 to $225.00 and set an "underweight" rating on the stock in a report on Wednesday, August 6th. Barclays decreased their price objective on Gartner from $475.00 to $320.00 and set an "overweight" rating for the company in a report on Wednesday, August 6th. Finally, The Goldman Sachs Group dropped their target price on Gartner from $535.00 to $457.00 and set a "buy" rating on the stock in a report on Wednesday, August 6th. Three research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $369.25.

About Gartner

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.