The Manufacturers Life Insurance Company Has $18.91 Million Stake in Gartner, Inc. $IT

Key Points

• The Manufacturers Life Insurance Company reduced its stake in Gartner, Inc. by 2.7%, selling 1,261 shares during the 1st quarter, bringing its total ownership to 45,050 shares valued at approximately $18.9 million.
• Gartner reported earnings of $3.53 per share, exceeding estimates, though revenue fell short of expectations at $1.66 billion, reflecting a 5.7% year-over-year increase.
• Analyst ratings have been downgraded, with Wells Fargo and others lowering price targets, indicating a consensus rating of "Hold" and expected price target of $369.25.

The Manufacturers Life Insurance Company cut its position in shares of Gartner, Inc. (NYSE:IT - Free Report) by 2.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,050 shares of the information technology services provider's stock after selling 1,261 shares during the period. The Manufacturers Life Insurance Company owned 0.06% of Gartner worth $18,909,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in IT. Brighton Jones LLC acquired a new position in shares of Gartner during the 4th quarter valued at about $309,000. Mercer Global Advisors Inc. ADV lifted its position in shares of Gartner by 2.9% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 4,454 shares of the information technology services provider's stock worth $2,158,000 after buying an additional 124 shares during the period. Aptus Capital Advisors LLC raised its position in Gartner by 49.8% in the 4th quarter. Aptus Capital Advisors LLC now owns 1,300 shares of the information technology services provider's stock valued at $630,000 after purchasing an additional 432 shares during the last quarter. Algert Global LLC bought a new position in Gartner in the 4th quarter valued at $2,259,000. Finally, Baird Financial Group Inc. raised its position in shares of Gartner by 2.0% during the fourth quarter. Baird Financial Group Inc. now owns 16,281 shares of the information technology services provider's stock worth $7,888,000 after acquiring an additional 326 shares during the last quarter. Institutional investors and hedge funds own 91.51% of the company's stock.

Insider Transactions at Gartner

In related news, SVP John J. Rinello sold 105 shares of the stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $249.71, for a total transaction of $26,219.55. Following the completion of the transaction, the senior vice president directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jose M. Gutierrez purchased 417 shares of Gartner stock in a transaction that occurred on Monday, August 18th. The shares were bought at an average cost of $239.80 per share, with a total value of $99,996.60. Following the completion of the transaction, the director directly owned 2,080 shares of the company's stock, valued at approximately $498,784. The trade was a 25.08% increase in their position. The disclosure for this purchase can be found here. 2.30% of the stock is currently owned by company insiders.

Gartner Trading Up 3.8%

Shares of Gartner stock traded up $9.06 during trading hours on Friday, hitting $245.79. The company's stock had a trading volume of 1,304,551 shares, compared to its average volume of 1,429,579. Gartner, Inc. has a 12 month low of $223.65 and a 12 month high of $584.01. The stock has a 50 day moving average of $308.20 and a 200 day moving average of $388.40. The company has a market capitalization of $18.62 billion, a PE ratio of 15.13 and a beta of 1.20. The company has a debt-to-equity ratio of 1.61, a current ratio of 1.11 and a quick ratio of 1.11.

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

Analyst Ratings Changes

IT has been the subject of a number of recent research reports. Wells Fargo & Company dropped their target price on Gartner from $345.00 to $225.00 and set an "underweight" rating for the company in a research report on Wednesday, August 6th. UBS Group restated a "neutral" rating and set a $270.00 target price (down previously from $480.00) on shares of Gartner in a research report on Wednesday, August 6th. Wolfe Research initiated coverage on Gartner in a research report on Wednesday. They set a "peer perform" rating for the company. Morgan Stanley dropped 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. Finally, The Goldman Sachs Group decreased their price objective on Gartner from $535.00 to $457.00 and set a "buy" rating for the company in a research note on Wednesday, August 6th. Three research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, Gartner has a consensus rating of "Hold" and a consensus price target of $369.25.

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.