Teza Capital Management LLC Sells 1,069 Shares of Gartner, Inc. $IT

Key Points

• Teza Capital Management LLC reduced its holdings in Gartner, Inc. by 40.4%, selling 1,069 shares during the first quarter, leaving it with 1,579 shares valued at approximately $663,000.
• Analysts have significantly adjusted their price targets for Gartner, with BMO Capital Markets lowering it from $409.00 to $272.00, and Barclays from $475.00 to $320.00, reflecting a cautious outlook on the stock.
• Despite a 5.7% year-over-year revenue increase, Gartner reported earnings per share of $3.53 for the latest quarter, beating estimates but falling short on revenue expectations.

Teza Capital Management LLC reduced its position in shares of Gartner, Inc. (NYSE:IT - Free Report) by 40.4% in the first quarter, according to its most recent filing with the SEC. The fund owned 1,579 shares of the information technology services provider's stock after selling 1,069 shares during the quarter. Teza Capital Management LLC's holdings in Gartner were worth $663,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. DAVENPORT & Co LLC boosted its position in shares of Gartner by 11.5% during the 1st quarter. DAVENPORT & Co LLC now owns 921 shares of the information technology services provider's stock valued at $387,000 after acquiring an additional 95 shares during the last quarter. HighPoint Advisor Group LLC boosted its stake in Gartner by 3.6% during the first quarter. HighPoint Advisor Group LLC now owns 1,145 shares of the information technology services provider's stock worth $482,000 after buying an additional 40 shares during the period. SG Americas Securities LLC increased its position in Gartner by 3.6% during 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 acquiring an additional 1,484 shares during the last quarter. Brighton Jones LLC bought a new position in Gartner during the fourth quarter valued at $309,000. Finally, Wealth Enhancement Advisory Services LLC raised its stake in shares of Gartner by 1.2% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 28,612 shares of the information technology services provider's stock valued at $12,009,000 after acquiring an additional 352 shares during the period. 91.51% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

IT has been the subject of a number of recent analyst reports. BMO Capital Markets dropped their price target on shares of Gartner from $409.00 to $272.00 and set a "market perform" rating for the company in a research note on Wednesday, August 6th. Morgan Stanley decreased their target price on Gartner from $455.00 to $322.00 and set an "equal weight" rating for the company in a research report on Wednesday, August 6th. Wolfe Research started coverage on Gartner in a research report on Wednesday. They set a "peer perform" rating for the company. UBS Group reiterated a "neutral" rating and set a $270.00 target price (down from $480.00) on shares of Gartner in a research report on Wednesday, August 6th. Finally, Barclays decreased their target price on Gartner from $475.00 to $320.00 and set an "overweight" rating for the company in a research report on Wednesday, August 6th. Three analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Gartner currently has an average rating of "Hold" and a consensus target price of $369.25.

Gartner Stock Performance

Shares of Gartner stock opened at $245.79 on Friday. The firm has a market cap of $18.62 billion, a P/E ratio of 15.13 and a beta of 1.20. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 1.61. Gartner, Inc. has a 12 month low of $223.65 and a 12 month high of $584.01. The stock's fifty day moving average price is $308.20 and its 200-day moving average price is $388.40.

Gartner (NYSE:IT - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The information technology services provider reported $3.53 EPS for the quarter, beating the consensus estimate of $3.38 by $0.15. The firm 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% on a year-over-year basis. During the same quarter last year, the firm posted $3.22 earnings per share. Gartner has set its FY 2025 guidance at 11.750- EPS. On average, equities research analysts expect that Gartner, Inc. will post 12.5 earnings per share for the current fiscal year.

Insider Buying and Selling at Gartner

In other news, SVP John J. Rinello sold 105 shares of the firm's stock in a transaction on Friday, August 22nd. The stock was 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. This trade represents a 3.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Jose M. Gutierrez purchased 417 shares of the business's stock in a transaction dated Monday, August 18th. The shares were purchased at an average price of $239.80 per share, for a total transaction of $99,996.60. Following the purchase, 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 position. The disclosure for this purchase can be found here. Company insiders own 2.30% of the company's stock.

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.

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