Independent Franchise Partners LLP lifted its stake in shares of Gartner, Inc. (NYSE:IT – Free Report) by 3.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,308,566 shares of the information technology services provider’s stock after acquiring an additional 112,439 shares during the quarter. Gartner makes up approximately 5.3% of Independent Franchise Partners LLP’s holdings, making the stock its 3rd biggest position. Independent Franchise Partners LLP’s holdings in Gartner were worth $834,685,000 at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in IT. Capital International Investors bought a new position in shares of Gartner during the 3rd quarter valued at approximately $820,113,000. J. Stern & Co. LLP boosted its stake in Gartner by 8,182.0% in the 4th quarter. J. Stern & Co. LLP now owns 1,536,890 shares of the information technology services provider’s stock worth $387,727,000 after purchasing an additional 1,518,333 shares during the period. Norges Bank bought a new position in Gartner in the 4th quarter worth approximately $299,576,000. Northwestern Mutual Wealth Management Co. boosted its stake in Gartner by 108,812.1% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,025,952 shares of the information technology services provider’s stock worth $258,827,000 after purchasing an additional 1,025,010 shares during the period. Finally, Bamco Inc. NY boosted its stake in Gartner by 18.3% in the 3rd quarter. Bamco Inc. NY now owns 4,322,113 shares of the information technology services provider’s stock worth $1,136,154,000 after purchasing an additional 669,352 shares during the period. 91.51% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
Several research firms have weighed in on IT. Wells Fargo & Company dropped their price target on Gartner from $150.00 to $140.00 and set an “underweight” rating for the company in a research note on Friday, March 27th. Barclays dropped their price target on Gartner from $180.00 to $150.00 and set an “equal weight” rating for the company in a research note on Friday, April 10th. The Goldman Sachs Group set a $162.00 price target on Gartner in a research note on Tuesday, May 5th. UBS Group dropped their price target on Gartner from $170.00 to $164.00 and set a “neutral” rating for the company in a research note on Friday, June 12th. Finally, Royal Bank Of Canada dropped their price target on Gartner from $175.00 to $160.00 and set a “sector perform” rating for the company in a research note on Wednesday, May 6th. Two analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $176.10.
Gartner Stock Down 6.1%
Shares of IT opened at $133.61 on Thursday. The stock has a market capitalization of $8.94 billion, a price-to-earnings ratio of 13.20, a price-to-earnings-growth ratio of 0.78 and a beta of 0.94. Gartner, Inc. has a 1 year low of $133.26 and a 1 year high of $409.76. The business’s 50 day simple moving average is $154.01 and its 200-day simple moving average is $183.03. The company has a debt-to-equity ratio of 46.98, a current ratio of 0.94 and a quick ratio of 0.94.
Gartner (NYSE:IT – Get Free Report) last issued its quarterly earnings data on Tuesday, May 5th. The information technology services provider reported $3.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.99 by $0.33. The business had revenue of $1.49 billion for the quarter, compared to analysts’ expectations of $1.51 billion. Gartner had a return on equity of 161.39% and a net margin of 11.44%.The company’s revenue for the quarter was down 1.5% on a year-over-year basis. During the same period in the prior year, the firm earned $2.98 EPS. Gartner has set its FY 2026 guidance at 13.250- EPS. As a group, equities analysts expect that Gartner, Inc. will post 13.67 earnings per share 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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