Illinois Municipal Retirement Fund cut its stake in Gartner, Inc. (NYSE:IT – Free Report) by 17.3% in the first quarter, Holdings Channel reports. The fund owned 32,737 shares of the information technology services provider’s stock after selling 6,837 shares during the period. Illinois Municipal Retirement Fund’s holdings in Gartner were worth $5,184,000 at the end of the most recent quarter.
Other institutional investors have also modified their holdings of the company. Brighton Jones LLC acquired a new position in Gartner in the 4th quarter valued at about $309,000. Sivia Capital Partners LLC purchased a new stake in shares of Gartner during the 2nd quarter valued at approximately $336,000. Cresset Asset Management LLC lifted its holdings in Gartner by 15.2% in the second quarter. Cresset Asset Management LLC now owns 1,446 shares of the information technology services provider’s stock valued at $585,000 after acquiring an additional 191 shares during the last quarter. Sei Investments Co. lifted its holdings in Gartner by 9.2% in the second quarter. Sei Investments Co. now owns 91,205 shares of the information technology services provider’s stock valued at $36,867,000 after acquiring an additional 7,678 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its position in Gartner by 111.5% in the second quarter. The Manufacturers Life Insurance Company now owns 95,301 shares of the information technology services provider’s stock worth $38,523,000 after acquiring an additional 50,251 shares during the period. Hedge funds and other institutional investors own 91.51% of the company’s stock.
Analyst Upgrades and Downgrades
IT has been the subject of several recent analyst reports. The Goldman Sachs Group set a $162.00 target price on Gartner in a research note on Tuesday, May 5th. Royal Bank Of Canada lowered their price target on Gartner from $175.00 to $160.00 and set a “sector perform” rating for the company in a report on Wednesday, May 6th. Weiss Ratings raised Gartner from a “sell (d)” rating to a “sell (d+)” rating in a research report on Wednesday. Morgan Stanley reduced their price objective on shares of Gartner from $183.00 to $173.00 and set an “equal weight” rating on the stock in a report on Friday, July 10th. Finally, Wells Fargo & Company decreased their target price on shares of Gartner from $140.00 to $120.00 and set an “underweight” rating on the stock in a research report on Wednesday, June 24th. Two analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Gartner currently has an average rating of “Hold” and a consensus target price of $173.10.
Gartner Stock Performance
Shares of IT stock opened at $140.45 on Friday. Gartner, Inc. has a 52 week low of $124.25 and a 52 week high of $361.20. The stock has a market capitalization of $9.40 billion, a PE ratio of 13.88, a P/E/G ratio of 0.77 and a beta of 0.97. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 46.98. The firm has a 50 day moving average of $145.97 and a two-hundred day moving average of $167.07.
Gartner (NYSE:IT – Get Free Report) last issued its quarterly earnings results on Tuesday, May 5th. The information technology services provider reported $3.32 earnings per share for the quarter, topping the consensus estimate of $2.99 by $0.33. Gartner had a return on equity of 161.39% and a net margin of 11.44%.The company had revenue of $1.49 billion for the quarter, compared to the consensus estimate of $1.51 billion. During the same quarter in the prior year, the business earned $2.98 EPS. Gartner’s revenue was down 1.5% on a year-over-year basis. Gartner has set its FY 2026 guidance at 13.250- EPS. On average, research analysts predict that Gartner, Inc. will post 13.61 EPS for the current fiscal year.
Gartner Company Profile
Gartner, Inc is a global research and advisory firm that provides insights, advice and tools for leaders in IT, finance, HR, customer service and other business functions. Founded in 1979 and headquartered in Stamford, Connecticut, Gartner specializes in helping organizations make informed decisions about technology, operations and strategy through a combination of published research, advisory services, consulting, executive programs and events.
The company’s offerings include proprietary research reports, market forecasts, and analytical frameworks that are widely used by technology buyers and vendors.
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