Massachusetts Financial Services Co. MA Has $69.11 Million Stake in Gartner, Inc. $IT

Massachusetts Financial Services Co. MA reduced its stake in shares of Gartner, Inc. (NYSE:IT) by 56.4% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 262,901 shares of the information technology services provider’s stock after selling 339,411 shares during the period. Massachusetts Financial Services Co. MA owned 0.35% of Gartner worth $69,109,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in IT. Norges Bank bought a new position in shares of Gartner during the second quarter worth about $394,133,000. AQR Capital Management LLC boosted its holdings in Gartner by 304.5% in the second quarter. AQR Capital Management LLC now owns 660,186 shares of the information technology services provider’s stock valued at $266,860,000 after acquiring an additional 496,957 shares during the last quarter. Sustainable Growth Advisers LP increased its position in Gartner by 71.7% during the 2nd quarter. Sustainable Growth Advisers LP now owns 1,161,513 shares of the information technology services provider’s stock valued at $469,507,000 after purchasing an additional 485,188 shares during the period. Pacer Advisors Inc. raised its holdings in Gartner by 150.6% during the 3rd quarter. Pacer Advisors Inc. now owns 712,252 shares of the information technology services provider’s stock worth $187,230,000 after purchasing an additional 428,089 shares during the last quarter. Finally, Qube Research & Technologies Ltd lifted its position in shares of Gartner by 98.6% in the 2nd quarter. Qube Research & Technologies Ltd now owns 682,062 shares of the information technology services provider’s stock worth $275,703,000 after purchasing an additional 338,615 shares during the period. Institutional investors own 91.51% of the company’s stock.

Gartner Price Performance

IT stock opened at $221.69 on Wednesday. The stock has a market capitalization of $15.98 billion, a PE ratio of 19.45 and a beta of 1.07. The company’s 50-day moving average is $238.00 and its 200-day moving average is $260.14. The company has a debt-to-equity ratio of 4.42, a current ratio of 0.88 and a quick ratio of 0.88. Gartner, Inc. has a 1 year low of $221.16 and a 1 year high of $584.01.

Gartner (NYSE:IT) last issued its earnings results on Tuesday, November 4th. The information technology services provider reported $2.76 EPS for the quarter, beating analysts’ consensus estimates of $2.41 by $0.35. Gartner had a return on equity of 92.12% and a net margin of 13.71%.The business had revenue of $1.52 billion during the quarter, compared to analyst estimates of $1.52 billion. Gartner has set its FY 2025 guidance at 12.650- EPS. Equities research analysts expect that Gartner, Inc. will post 12.5 EPS for the current fiscal year.

Insider Activity

In other news, Director Stephen G. Pagliuca bought 43,300 shares of the stock in a transaction dated Wednesday, December 10th. The shares were bought at an average cost of $229.57 per share, with a total value of $9,940,381.00. Following the completion of the transaction, the director directly owned 111,613 shares of the company’s stock, valued at $25,622,996.41. This trade represents a 63.38% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Claire Herkes sold 367 shares of Gartner stock in a transaction on Wednesday, December 3rd. The shares were sold at an average price of $231.56, for a total transaction of $84,982.52. Following the completion of the sale, the executive vice president directly owned 4,074 shares of the company’s stock, valued at approximately $943,375.44. The trade was a 8.26% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 3.60% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on IT shares. Truist Financial set a $300.00 price objective on shares of Gartner in a research report on Wednesday, November 26th. Barclays cut their price target on shares of Gartner from $270.00 to $260.00 and set an “equal weight” rating on the stock in a research report on Wednesday, November 5th. BMO Capital Markets decreased their price target on Gartner from $272.00 to $254.00 and set a “market perform” rating for the company in a report on Wednesday, November 5th. The Goldman Sachs Group dropped their price objective on Gartner from $457.00 to $390.00 and set a “buy” rating on the stock in a research note on Wednesday, November 5th. Finally, William Blair reaffirmed an “outperform” rating on shares of Gartner in a research note on Tuesday, October 21st. Four investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, Gartner has an average rating of “Hold” and an average target price of $309.67.

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.