Findlay Park Partners LLP Decreases Position in Gartner, Inc. $IT

Findlay Park Partners LLP lessened its position in shares of Gartner, Inc. (NYSE:IT) by 3.5% during the second quarter, HoldingsChannel reports. The institutional investor owned 417,821 shares of the information technology services provider’s stock after selling 15,100 shares during the quarter. Gartner accounts for about 1.7% of Findlay Park Partners LLP’s holdings, making the stock its 25th biggest position. Findlay Park Partners LLP’s holdings in Gartner were worth $168,892,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. T. Rowe Price Investment Management Inc. boosted its holdings in Gartner by 692.2% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 1,066,732 shares of the information technology services provider’s stock valued at $447,751,000 after purchasing an additional 932,077 shares in the last quarter. Sustainable Growth Advisers LP lifted its position in Gartner by 71.7% during the second quarter. Sustainable Growth Advisers LP now owns 1,161,513 shares of the information technology services provider’s stock worth $469,507,000 after buying an additional 485,188 shares during the period. Nuveen LLC acquired a new stake in shares of Gartner in the first quarter worth approximately $128,318,000. JPMorgan Chase & Co. increased its stake in Gartner by 20.5% during the first quarter. JPMorgan Chase & Co. now owns 1,245,563 shares of the information technology services provider’s stock worth $522,813,000 after acquiring an additional 211,842 shares during the last quarter. Finally, Westfield Capital Management Co. LP raised its stake in shares of Gartner by 1,381.7% in the 2nd quarter. Westfield Capital Management Co. LP now owns 212,927 shares of the information technology services provider’s stock valued at $86,069,000 after acquiring an additional 198,557 shares during the period. 91.51% of the stock is owned by institutional investors and hedge funds.

Gartner Trading Down 1.8%

Shares of NYSE IT opened at $231.16 on Thursday. The firm has a market capitalization of $16.66 billion, a PE ratio of 14.23 and a beta of 1.19. 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 business has a 50-day moving average price of $243.93 and a two-hundred day moving average price of $310.78. Gartner, Inc. has a one year low of $222.54 and a one year high of $584.01.

Gartner (NYSE:IT) last issued its earnings results on Tuesday, November 4th. The information technology services provider reported $2.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.41 by $0.35. The company had revenue of $1.52 billion during the quarter, compared to analyst estimates of $1.52 billion. Gartner had a net margin of 19.71% and a return on equity of 82.63%. Gartner has set its FY 2025 guidance at 12.650- EPS. As a group, analysts predict that Gartner, Inc. will post 12.5 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Wolfe Research initiated coverage on Gartner in a report on Wednesday, September 3rd. They issued a “peer perform” rating for the company. Weiss Ratings lowered Gartner from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Saturday, October 25th. Morgan Stanley set a $307.00 price target on Gartner in a report on Monday, October 13th. BMO Capital Markets decreased their price objective on Gartner from $272.00 to $254.00 and set a “market perform” rating for the company in a report on Wednesday, November 5th. Finally, Barclays reduced their price target on shares of Gartner from $270.00 to $260.00 and set an “equal weight” rating for the company in a research note on Wednesday, November 5th. Four research analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $311.67.

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.