Voya Investment Management LLC Decreases Stake in Gartner, Inc. $IT

Key Points

• Voya Investment Management LLC has decreased its stake in Gartner, Inc. by 26.0%, holding approximately 0.13% of the company worth $41.3 million after selling 34,662 shares in the first quarter.
• Gartner recently reported $3.53 earnings per share (EPS), surpassing analyst estimates of $3.38, with a revenue of $1.66 billion, showing a 5.7% increase from the previous year.
• Several brokerages have downgraded their price targets for Gartner's shares, with UBS cutting its target from $480.00 to $270.00, indicating a shift in market sentiment.

Voya Investment Management LLC reduced its stake in Gartner, Inc. (NYSE:IT - Free Report) by 26.0% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 98,596 shares of the information technology services provider's stock after selling 34,662 shares during the quarter. Voya Investment Management LLC owned about 0.13% of Gartner worth $41,325,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of IT. Brighton Jones LLC purchased a new position in shares of Gartner in the 4th quarter valued at approximately $309,000. Focus Partners Wealth increased its holdings in Gartner by 5.0% in the 4th quarter. Focus Partners Wealth now owns 3,348 shares of the information technology services provider's stock worth $1,694,000 after buying an additional 159 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Gartner by 2.9% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,106 shares of the information technology services provider's stock worth $6,834,000 after buying an additional 392 shares during the period. Nomura Holdings Inc. acquired a new position in Gartner in the 4th quarter worth approximately $1,442,000. Finally, Man Group plc increased its holdings in Gartner by 39.1% in the 4th quarter. Man Group plc now owns 30,768 shares of the information technology services provider's stock worth $14,906,000 after buying an additional 8,654 shares during the period. 91.51% of the stock is owned by hedge funds and other institutional investors.

Gartner Price Performance

Shares of NYSE IT opened at $247.40 on Friday. The stock has a market capitalization of $18.74 billion, a price-to-earnings ratio of 15.22 and a beta of 1.20. Gartner, Inc. has a 12 month low of $223.65 and a 12 month high of $584.01. The firm's 50 day simple moving average is $292.34 and its 200-day simple moving average is $379.54. 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 released its quarterly earnings results on Tuesday, August 5th. The information technology services provider reported $3.53 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $1.68 billion. During the same quarter last year, the company earned $3.22 EPS. The firm'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. Analysts expect that Gartner, Inc. will post 12.5 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on IT. UBS Group reiterated a "neutral" rating and issued a $270.00 price target (down previously from $480.00) on shares of Gartner in a report on Wednesday, August 6th. Morgan Stanley cut their price target on shares of Gartner from $455.00 to $322.00 and set an "equal weight" rating on the stock in a report on Wednesday, August 6th. The Goldman Sachs Group cut their price target on shares of Gartner from $535.00 to $457.00 and set a "buy" rating on the stock in a report on Wednesday, August 6th. BMO Capital Markets dropped their price objective on shares of Gartner from $409.00 to $272.00 and set a "market perform" rating on the stock in a research note on Wednesday, August 6th. Finally, Wells Fargo & Company dropped their price objective on shares of Gartner from $345.00 to $225.00 and set an "underweight" rating on the stock in a research note on Wednesday, August 6th. Three analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $357.44.

Insiders Place Their Bets

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

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