Mitsubishi UFJ Asset Management Co. Ltd. Grows Stock Position in Gartner, Inc. $IT

Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of Gartner, Inc. (NYSE:IT) by 7.8% in the 2nd quarter, HoldingsChannel reports. The firm owned 146,950 shares of the information technology services provider’s stock after purchasing an additional 10,644 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Gartner were worth $59,400,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of IT. Applied Finance Capital Management LLC boosted its stake in shares of Gartner by 1.5% in the 1st quarter. Applied Finance Capital Management LLC now owns 1,945 shares of the information technology services provider’s stock valued at $816,000 after buying an additional 29 shares during the period. Allworth Financial LP increased its stake in shares of Gartner by 5.6% during the first quarter. Allworth Financial LP now owns 562 shares of the information technology services provider’s stock worth $235,000 after buying an additional 30 shares during the period. Sequoia Financial Advisors LLC raised its holdings in Gartner by 1.8% in the second quarter. Sequoia Financial Advisors LLC now owns 1,725 shares of the information technology services provider’s stock valued at $697,000 after acquiring an additional 31 shares in the last quarter. Verdence Capital Advisors LLC lifted its stake in Gartner by 2.6% in the second quarter. Verdence Capital Advisors LLC now owns 1,333 shares of the information technology services provider’s stock worth $539,000 after acquiring an additional 34 shares during the last quarter. Finally, Accurate Wealth Management LLC grew its holdings in Gartner by 2.8% during the 2nd quarter. Accurate Wealth Management LLC now owns 1,308 shares of the information technology services provider’s stock worth $507,000 after acquiring an additional 36 shares in the last quarter. Institutional investors and hedge funds own 91.51% of the company’s stock.

Insider Activity at Gartner

In other 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 sale, the senior vice president directly owned 3,225 shares of the company’s stock, valued at approximately $805,314.75. This represents a 3.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jose M. Gutierrez bought 417 shares of the business’s stock in a transaction dated Monday, August 18th. The stock was acquired at an average cost of $239.80 per share, for a total transaction 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 trade represents a 25.08% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 2.30% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on IT. Weiss Ratings lowered shares of Gartner from a “hold (c-)” rating to a “sell (d+)” rating in a report on Saturday, October 25th. Morgan Stanley set a $307.00 target price on Gartner in a report on Monday, October 13th. Royal Bank Of Canada began coverage on Gartner in a report on Tuesday, September 9th. They set a “sector perform” rating and a $263.00 price target for the company. UBS Group lowered their price objective on Gartner from $280.00 to $256.00 and set a “neutral” rating for the company in a research report on Wednesday, November 5th. Finally, BMO Capital Markets dropped their price objective on Gartner from $272.00 to $254.00 and set a “market perform” rating on the stock in a report on Wednesday. Four analysts have rated the stock with a Buy rating, six have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, Gartner presently has a consensus rating of “Hold” and an average target price of $311.67.

Gartner Stock Up 1.8%

IT opened at $230.44 on Monday. Gartner, Inc. has a one year low of $222.54 and a one year high of $584.01. The company has a debt-to-equity ratio of 1.61, a quick ratio of 1.11 and a current ratio of 1.11. The stock has a market capitalization of $17.45 billion, a P/E ratio of 14.18 and a beta of 1.19. The business’s 50-day simple moving average is $248.17 and its 200-day simple moving average is $327.92.

Gartner (NYSE:IT) last announced 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 firm had revenue of $1.52 billion during the quarter, compared to analysts’ expectations of $1.52 billion. Gartner had a return on equity of 82.63% and a net margin of 19.71%. Gartner has set its FY 2025 guidance at 12.650- EPS. Analysts anticipate that Gartner, Inc. will post 12.5 EPS for the current year.

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.