Gartner, Inc. $IT Stock Holdings Lifted by Thematics Asset Management

Key Points

• Thematics Asset Management has increased its stake in Gartner, Inc. by 16.8%, bringing its total investment to approximately $3.91 million after acquiring 1,342 additional shares during the first quarter.
• Gartner's recent earnings report showed earnings per share of $3.53, exceeding analysts' expectations, with a revenue of $1.66 billion, although slightly below the consensus estimate.
• Several research firms have lowered their price targets for Gartner, with Wells Fargo reducing it from $345.00 to $225.00 and UBS lowering theirs to $270.00, amid mixed analyst ratings for the stock.

Thematics Asset Management increased its stake in shares of Gartner, Inc. (NYSE:IT - Free Report) by 16.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,309 shares of the information technology services provider's stock after buying an additional 1,342 shares during the quarter. Thematics Asset Management's holdings in Gartner were worth $3,907,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Cary Street Partners Financial LLC purchased a new stake in Gartner in the 4th quarter valued at approximately $27,000. Itau Unibanco Holding S.A. boosted its holdings in Gartner by 453.3% in 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 in the last quarter. Olde Wealth Management LLC purchased a new stake in Gartner in the 1st quarter valued at approximately $42,000. GW&K Investment Management LLC boosted its holdings in Gartner by 210.8% in the 1st quarter. GW&K Investment Management LLC now owns 115 shares of the information technology services provider's stock valued at $48,000 after purchasing an additional 78 shares in the last quarter. Finally, Wayfinding Financial LLC purchased a new stake in Gartner in the 1st quarter valued at approximately $55,000. Hedge funds and other institutional investors own 91.51% of the company's stock.

Gartner Price Performance

Shares of Gartner stock traded up $1.07 during trading on Thursday, hitting $247.43. 881,773 shares of the company were exchanged, compared to its average volume of 838,335. Gartner, Inc. has a fifty-two week low of $223.65 and a fifty-two week high of $584.01. The stock has a market capitalization of $18.74 billion, a price-to-earnings ratio of 15.23 and a beta of 1.19. The firm has a 50 day moving average price of $329.61 and a 200 day moving average price of $402.36. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 1.61.

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

Insiders Place Their Bets

In other news, Director Jose M. Gutierrez acquired 417 shares of the company's stock in a transaction dated Monday, August 18th. The stock was acquired at an average cost of $239.80 per share, for a total transaction of $99,996.60. Following the acquisition, the director directly owned 2,080 shares in the company, valued at approximately $498,784. This represents a 25.08% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP John J. Rinello sold 105 shares of the company's stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $249.71, for a total value of $26,219.55. Following the sale, the senior vice president owned 3,225 shares of the company's stock, valued at approximately $805,314.75. The trade was a 3.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.30% of the company's stock.

Wall Street Analysts Forecast Growth

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