Resona Asset Management Co. Ltd. Raises Position in Gartner, Inc. $IT

Resona Asset Management Co. Ltd. grew its holdings in shares of Gartner, Inc. (NYSE:IT) by 19.3% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 164,239 shares of the information technology services provider’s stock after purchasing an additional 26,605 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in Gartner were worth $66,321,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. Applied Finance Capital Management LLC lifted its stake in shares of Gartner by 1.5% during the 1st quarter. Applied Finance Capital Management LLC now owns 1,945 shares of the information technology services provider’s stock worth $816,000 after purchasing an additional 29 shares during the period. Allworth Financial LP lifted its stake in shares of Gartner by 5.6% during the 1st quarter. Allworth Financial LP now owns 562 shares of the information technology services provider’s stock worth $235,000 after purchasing an additional 30 shares during the period. Sequoia Financial Advisors LLC lifted its stake in shares of Gartner by 1.8% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 1,725 shares of the information technology services provider’s stock worth $697,000 after purchasing an additional 31 shares during the period. Verdence Capital Advisors LLC lifted its stake in shares of Gartner by 2.6% during the 2nd quarter. Verdence Capital Advisors LLC now owns 1,333 shares of the information technology services provider’s stock worth $539,000 after purchasing an additional 34 shares during the period. Finally, Accurate Wealth Management LLC lifted its stake in shares of 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 purchasing an additional 36 shares during the period. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Insider Activity

In related news, Director Jose M. Gutierrez acquired 417 shares of the business’s stock in a transaction on Monday, August 18th. The shares were bought at an average cost of $239.80 per share, with a total value of $99,996.60. Following the completion of the transaction, the director directly owned 2,080 shares of the company’s stock, valued at $498,784. This trade represents a 25.08% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP John J. Rinello sold 105 shares of Gartner stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $249.71, for a total value of $26,219.55. Following the sale, the senior vice president directly owned 3,225 shares in the company, valued at approximately $805,314.75. The trade was a 3.15% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 3.60% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. William Blair reissued an “outperform” rating on shares of Gartner in a research note on Tuesday, October 21st. UBS Group cut their target price on Gartner from $280.00 to $256.00 and set a “neutral” rating on the stock in a research report on Wednesday. Wells Fargo & Company cut their target price on Gartner from $231.00 to $218.00 and set an “underweight” rating on the stock in a research report on Wednesday. Barclays cut their target price on Gartner from $270.00 to $260.00 and set an “equal weight” rating on the stock in a research report on Wednesday. Finally, The Goldman Sachs Group cut their target price on Gartner from $457.00 to $390.00 and set a “buy” rating on the stock in a research report on Wednesday. Four analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $311.67.

Gartner Trading Up 4.4%

NYSE:IT opened at $237.14 on Thursday. The business’s 50-day moving average is $249.01 and its two-hundred day moving average is $330.84. 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, Inc. has a 12 month low of $223.23 and a 12 month high of $584.01. The firm has a market capitalization of $17.96 billion, a PE ratio of 14.59 and a beta of 1.19.

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

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.