Principal Financial Group Inc. Reduces Stock Position in Gartner, Inc. $IT

Principal Financial Group Inc. reduced its position in Gartner, Inc. (NYSE:IT) by 5.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 89,845 shares of the information technology services provider’s stock after selling 5,417 shares during the quarter. Principal Financial Group Inc.’s holdings in Gartner were worth $14,226,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of IT. Brighton Jones LLC bought a new stake in Gartner during the fourth quarter worth about $309,000. Sivia Capital Partners LLC purchased a new position in Gartner during the second quarter valued at $336,000. Cresset Asset Management LLC grew its holdings in Gartner by 15.2% during 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 purchasing an additional 191 shares during the period. Sei Investments Co. lifted its position in Gartner by 9.2% during 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 purchasing an additional 7,678 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in shares of Gartner by 111.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 95,301 shares of the information technology services provider’s stock valued at $38,523,000 after acquiring an additional 50,251 shares during the last quarter. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Gartner Price Performance

IT opened at $133.41 on Friday. Gartner, Inc. has a twelve month low of $124.25 and a twelve month high of $359.36. The firm has a market cap of $8.93 billion, a price-to-earnings ratio of 13.18, a PEG ratio of 0.73 and a beta of 0.97. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 46.98. The company has a fifty day simple moving average of $144.95 and a 200 day simple moving average of $163.26.

Gartner (NYSE:IT) last posted its quarterly earnings data on Tuesday, May 5th. The information technology services provider reported $3.32 earnings per share for the quarter, beating analysts’ consensus estimates of $2.99 by $0.33. The company had revenue of $1.49 billion during the quarter, compared to analysts’ expectations of $1.51 billion. Gartner had a net margin of 11.44% and a return on equity of 161.39%. The firm’s revenue for the quarter was down 1.5% on a year-over-year basis. During the same period in the prior year, the company posted $2.98 EPS. Gartner has set its FY 2026 guidance at 13.250- EPS. Equities research analysts expect that Gartner, Inc. will post 13.61 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Royal Bank Of Canada reduced their target price 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. Barclays cut their target price on shares of Gartner from $180.00 to $150.00 and set an “equal weight” rating for the company in a research note on Friday, April 10th. 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. UBS Group decreased their target price 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, The Goldman Sachs Group set a $162.00 price target on Gartner in a report on Tuesday, May 5th. Two research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $173.10.

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.