United Services Automobile Association Takes Position in Gartner, Inc. $IT

Key Points

• The United Services Automobile Association has invested approximately $714,000 in Gartner, Inc. by acquiring 1,708 shares of the company.
• Gartner reported a quarterly earnings per share of $3.53, exceeding the consensus estimate of $3.38, with a revenue of $1.66 billion.
• Institutional investors and hedge funds collectively own 91.51% of Gartner's stock, indicating a strong institutional interest in the company.

United Services Automobile Association bought a new position in shares of Gartner, Inc. (NYSE:IT - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 1,708 shares of the information technology services provider's stock, valued at approximately $714,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of IT. Olde Wealth Management LLC acquired a new position in Gartner during the 1st quarter worth $42,000. GW&K Investment Management LLC lifted its position in Gartner by 210.8% during the 1st quarter. GW&K Investment Management LLC now owns 115 shares of the information technology services provider's stock worth $48,000 after acquiring an additional 78 shares during the last quarter. Wayfinding Financial LLC acquired a new position in Gartner during the 1st quarter worth $55,000. Bayforest Capital Ltd raised its position in shares of Gartner by 527.3% during the first quarter. Bayforest Capital Ltd now owns 138 shares of the information technology services provider's stock valued at $58,000 after buying an additional 116 shares during the last quarter. Finally, WPG Advisers LLC acquired a new position in shares of Gartner during the first quarter valued at about $69,000. Institutional investors and hedge funds own 91.51% of the company's stock.

Gartner Price Performance

NYSE:IT traded up $6.28 during mid-day trading on Friday, hitting $247.40. The company's stock had a trading volume of 2,214,210 shares, compared to its average volume of 1,281,129. Gartner, Inc. has a fifty-two week low of $223.65 and a fifty-two 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. The company has a market capitalization of $18.74 billion, a price-to-earnings ratio of 15.22 and a beta of 1.20. The stock has a fifty day moving average of $292.34 and a 200-day moving average of $379.54.

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

Analyst Ratings Changes

A number of brokerages have recently commented on IT. Barclays cut their price objective on shares of Gartner from $475.00 to $320.00 and set an "overweight" rating for the company in a research report on Wednesday, August 6th. Morgan Stanley cut their price objective on shares of Gartner from $455.00 to $322.00 and set an "equal weight" rating for the company in a research report on Wednesday, August 6th. UBS Group reaffirmed a "neutral" rating and set a $270.00 price objective (down previously from $480.00) on shares of Gartner in a research report on Wednesday, August 6th. Royal Bank Of Canada began coverage on shares of Gartner in a research report on Tuesday, September 9th. They set a "sector perform" rating and a $263.00 price objective for the company. Finally, The Goldman Sachs Group cut their price objective on shares of Gartner from $535.00 to $457.00 and set a "buy" rating for the company in a research report on Wednesday, August 6th. Three investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $357.44.

Insider Activity

In other news, Director Jose M. Gutierrez acquired 417 shares of the firm's stock in a transaction on Monday, August 18th. The shares were purchased at an average cost 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 of the company's stock, valued at $498,784. This represents a 25.08% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP John J. Rinello sold 105 shares of the company's 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 sale, the senior vice president directly owned 3,225 shares in the company, valued at $805,314.75. This represents a 3.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.30% of the stock is currently owned by corporate insiders.

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.