Connor Clark & Lunn Investment Management Ltd. Invests $30.29 Million in Gartner, Inc. $IT

Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Gartner, Inc. (NYSE:IT) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 233,703 shares of the information technology services provider’s stock, valued at approximately $30,293,000. Connor Clark & Lunn Investment Management Ltd. owned 0.35% of Gartner at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. Oppenheimer Asset Management Inc. purchased a new position in shares of Gartner during the second quarter worth approximately $2,872,000. Plato Investment Management Ltd raised its stake in shares of Gartner by 293.4% during the fourth quarter. Plato Investment Management Ltd now owns 9,002 shares of the information technology services provider’s stock valued at $2,282,000 after acquiring an additional 6,714 shares in the last quarter. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Gartner in the fourth quarter valued at approximately $3,318,000. Wedge Capital Management L L P NC grew its stake in Gartner by 34.1% in the second quarter. Wedge Capital Management L L P NC now owns 54,196 shares of the information technology services provider’s stock worth $7,025,000 after purchasing an additional 13,776 shares in the last quarter. Finally, Bank of America Corp DE grew its stake in Gartner by 60.1% in the first quarter. Bank of America Corp DE now owns 773,771 shares of the information technology services provider’s stock worth $122,519,000 after purchasing an additional 290,499 shares in the last quarter. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Gartner Stock Performance

Shares of NYSE:IT opened at $202.70 on Tuesday. The firm has a 50 day moving average of $152.74 and a 200 day moving average of $155.13. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 46.98. The company has a market capitalization of $12.80 billion, a price-to-earnings ratio of 18.18, a price-to-earnings-growth ratio of 0.68 and a beta of 0.94. Gartner, Inc. has a 52 week low of $124.25 and a 52 week high of $265.85.

Gartner (NYSE:IT) last announced its earnings results on Tuesday, August 4th. The information technology services provider reported $4.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.76 by $0.61. Gartner had a return on equity of 525.46% and a net margin of 11.99%.The business had revenue of $1.68 billion for the quarter, compared to analysts’ expectations of $1.65 billion. During the same quarter last year, the firm earned $3.53 EPS. The business’s revenue for the quarter was down .6% on a year-over-year basis. Gartner has set its FY 2026 guidance at 14.000- EPS. On average, sell-side analysts predict that Gartner, Inc. will post 14.42 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. UBS Group lifted their target price on Gartner from $164.00 to $196.00 and gave the company a “neutral” rating in a research report on Wednesday, August 5th. BMO Capital Markets dropped their price target on Gartner from $214.00 to $206.00 and set a “market perform” rating on the stock in a research report on Tuesday, August 18th. The Goldman Sachs Group raised their price target on Gartner from $162.00 to $181.00 and gave the company a “neutral” rating in a research note on Wednesday, August 5th. Truist Financial set a $205.00 price objective on Gartner in a report on Wednesday, August 5th. Finally, Morgan Stanley set a $177.00 price objective on shares of Gartner in a research note on Wednesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $187.30.

Insiders Place Their Bets

In other Gartner news, EVP Yvonne Genovese sold 1,205 shares of the business’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $190.06, for a total value of $229,022.30. Following the completion of the transaction, the executive vice president directly owned 6,208 shares in the company, valued at approximately $1,179,892.48. The trade was a 16.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Anne Sutherland Fuchs sold 860 shares of the business’s stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $184.30, for a total transaction of $158,498.00. Following the completion of the transaction, the director owned 8,097 shares of the company’s stock, valued at $1,492,277.10. This represents a 9.60% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 2.60% of the company’s stock.

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.