Trexquant Investment LP Has $18.10 Million Holdings in Gartner, Inc. $IT

Key Points

• Trexquant Investment LP significantly increased its stake in Gartner, Inc. by 390.9% in the first quarter, owning 43,111 shares valued at approximately $18.1 million.
• Multiple analysts have downgraded their price targets for Gartner, with Barclays lowering its target from $475 to $320 and Morgan Stanley from $455 to $322.
• Gartner reported a Q2 earnings per share of $3.53, surpassing analysts’ expectations of $3.38, indicating a 5.7% year-over-year revenue increase despite challenges.

Trexquant Investment LP increased its position in Gartner, Inc. (NYSE:IT - Free Report) by 390.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 43,111 shares of the information technology services provider's stock after acquiring an additional 34,329 shares during the quarter. Trexquant Investment LP owned about 0.06% of Gartner worth $18,095,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of IT. OMERS ADMINISTRATION Corp increased its stake in Gartner by 5.4% during the first quarter. OMERS ADMINISTRATION Corp now owns 19,728 shares of the information technology services provider's stock worth $8,281,000 after acquiring an additional 1,010 shares during the last quarter. BNP Paribas Financial Markets grew its position in shares of Gartner by 13.1% during the 1st quarter. BNP Paribas Financial Markets now owns 441,757 shares of the information technology services provider's stock worth $185,423,000 after buying an additional 51,285 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its position in shares of Gartner by 28.0% in the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 34,643 shares of the information technology services provider's stock worth $14,541,000 after purchasing an additional 7,578 shares during the period. Taikang Asset Management Hong Kong Co Ltd lifted its holdings in Gartner by 30.0% during the first quarter. Taikang Asset Management Hong Kong Co Ltd now owns 6,693 shares of the information technology services provider's stock worth $2,809,000 after buying an additional 1,545 shares during the period. Finally, Thematics Asset Management boosted its position in Gartner by 16.8% during the first quarter. Thematics Asset Management now owns 9,309 shares of the information technology services provider's stock valued at $3,907,000 after purchasing an additional 1,342 shares in the last quarter. Institutional investors own 91.51% of the company's stock.

Insider Activity

In other news, SVP John J. Rinello sold 105 shares of the business's stock in a transaction dated 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 owned 3,225 shares of the company's stock, valued at approximately $805,314.75. The trade was a 3.15% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jose M. Gutierrez acquired 417 shares of the stock in a transaction that occurred on Monday, August 18th. The shares were bought at an average price of $239.80 per share, with a total value of $99,996.60. Following the completion of the purchase, the director owned 2,080 shares in the company, valued at $498,784. The trade was a 25.08% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 3.60% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on IT shares. Morgan Stanley decreased their price target on Gartner from $455.00 to $322.00 and set an "equal weight" rating for the company in a research note on Wednesday, August 6th. UBS Group restated 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. Barclays dropped their price target on shares of Gartner from $475.00 to $320.00 and set an "overweight" rating on the stock in a research note on Wednesday, August 6th. Wells Fargo & Company reduced their target price on Gartner from $345.00 to $225.00 and set an "underweight" rating for the company in a report on Wednesday, August 6th. Finally, BMO Capital Markets dropped 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 note on Wednesday, August 6th. Three investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, Gartner has a consensus rating of "Hold" and an average price target of $369.25.

Gartner Stock Performance

Shares of IT stock traded down $3.95 during mid-day trading on Wednesday, hitting $246.96. The stock had a trading volume of 288,983 shares, compared to its average volume of 836,612. The company's 50-day simple moving average is $317.80 and its 200-day simple moving average is $394.06. Gartner, Inc. has a fifty-two week low of $223.65 and a fifty-two week high of $584.01. The firm has a market cap of $18.70 billion, a PE ratio of 15.19 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 earnings results on Tuesday, August 5th. The information technology services provider reported $3.53 earnings per share for the quarter, beating the consensus estimate of $3.38 by $0.15. The company 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%.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 earnings per share. Gartner has set its FY 2025 guidance at 11.750- EPS. Sell-side analysts anticipate that Gartner, Inc. will post 12.5 earnings per share 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.