Union Bancaire Privee UBP SA Makes New Investment in Gartner, Inc. $IT

Key Points

• Union Bancaire Privee UBP SA has acquired a new position in Gartner, purchasing 1,055 shares valued at approximately $427,000 during Q2.
• Research analysts have significantly lowered their price targets for Gartner, with Wells Fargo cutting its target from $345 to $225 and others following suit.
• Gartner's stock has recently experienced a 4.7% decline, and it reported an earnings beat of $3.53 EPS, though revenue was slightly below estimates at $1.66 billion.

Union Bancaire Privee UBP SA acquired a new position in shares of Gartner, Inc. (NYSE:IT - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 1,055 shares of the information technology services provider's stock, valued at approximately $427,000.

Several other institutional investors have also modified their holdings of IT. Brighton Jones LLC acquired a new position in shares of Gartner in the fourth quarter worth about $309,000. Parallel Advisors LLC lifted its stake in shares of Gartner by 6.1% in the first quarter. Parallel Advisors LLC now owns 782 shares of the information technology services provider's stock worth $328,000 after acquiring an additional 45 shares in the last quarter. Fifth Third Wealth Advisors LLC lifted its stake in shares of Gartner by 7.4% in the first quarter. Fifth Third Wealth Advisors LLC now owns 655 shares of the information technology services provider's stock worth $275,000 after acquiring an additional 45 shares in the last quarter. Merit Financial Group LLC lifted its stake in shares of Gartner by 15.6% in the first quarter. Merit Financial Group LLC now owns 1,842 shares of the information technology services provider's stock worth $773,000 after acquiring an additional 249 shares in the last quarter. Finally, Contravisory Investment Management Inc. lifted its stake in shares of Gartner by 3.7% in the first quarter. Contravisory Investment Management Inc. now owns 2,028 shares of the information technology services provider's stock worth $851,000 after acquiring an additional 73 shares in the last quarter. Institutional investors and hedge funds own 91.51% of the company's stock.

Insider Activity at Gartner

In related news, SVP John J. Rinello sold 105 shares of the stock in a transaction that occurred 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 completion of the transaction, the senior vice president directly owned 3,225 shares of the company's stock, valued at $805,314.75. This represents a 3.15% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Jose M. Gutierrez acquired 417 shares of the firm's stock in a transaction that occurred on Monday, August 18th. The stock was acquired at an average cost of $239.80 per share, with a total value of $99,996.60. Following the completion of 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 ownership of the stock. The disclosure for this purchase can be found here. 2.30% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Wells Fargo & Company cut 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. UBS Group restated a "neutral" rating and set a $270.00 price objective (down previously from $480.00) on shares of Gartner in a research note on Wednesday, August 6th. The Goldman Sachs Group cut their price objective on Gartner from $535.00 to $457.00 and set a "buy" rating on the stock in a research note on Wednesday, August 6th. Royal Bank Of Canada started coverage on Gartner in a research note on Tuesday, September 9th. They set a "sector perform" rating and a $263.00 price objective on the stock. Finally, BMO Capital Markets cut their price objective 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. Three research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, Gartner currently has an average rating of "Hold" and an average price target of $357.44.

Gartner Stock Down 4.7%

NYSE:IT opened at $250.58 on Thursday. The firm has a market capitalization of $18.98 billion, a PE ratio of 15.42 and a beta of 1.20. The stock has a 50 day moving average of $262.58 and a 200-day moving average of $360.51. Gartner, Inc. has a 52 week low of $223.65 and a 52 week high of $584.01. 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 (NYSE:IT - Get Free Report) last posted its 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 company had revenue of $1.66 billion during 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 was up 5.7% compared to the same quarter last year. During the same period in the prior 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 EPS 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.

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