AustralianSuper Pty Ltd Makes New Investment in Gartner, Inc. $IT

AustralianSuper Pty Ltd acquired a new position in shares of Gartner, Inc. (NYSE:IT) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 54,354 shares of the information technology services provider’s stock, valued at approximately $21,971,000. AustralianSuper Pty Ltd owned approximately 0.07% of Gartner at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of IT. T. Rowe Price Investment Management Inc. raised its stake in Gartner by 692.2% during the first quarter. T. Rowe Price Investment Management Inc. now owns 1,066,732 shares of the information technology services provider’s stock worth $447,751,000 after acquiring an additional 932,077 shares in the last quarter. Nuveen LLC acquired a new stake in shares of Gartner in the first quarter valued at $128,318,000. JPMorgan Chase & Co. raised its holdings in shares of Gartner by 20.5% in the first quarter. JPMorgan Chase & Co. now owns 1,245,563 shares of the information technology services provider’s stock valued at $522,813,000 after buying an additional 211,842 shares during the last quarter. Generation Investment Management LLP lifted its position in Gartner by 16.5% during the 1st quarter. Generation Investment Management LLP now owns 1,341,342 shares of the information technology services provider’s stock worth $563,015,000 after buying an additional 189,514 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in Gartner by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 9,433,449 shares of the information technology services provider’s stock worth $3,959,596,000 after acquiring an additional 164,810 shares during the last quarter. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Gartner

In other news, SVP John J. Rinello sold 105 shares of the firm’s stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $249.71, for a total transaction of $26,219.55. Following the sale, the senior vice president owned 3,225 shares of the company’s stock, valued at $805,314.75. This trade represents a 3.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Jose M. Gutierrez bought 417 shares of the company’s stock in a transaction that occurred on Monday, August 18th. The stock was purchased at an average cost of $239.80 per share, for a total transaction of $99,996.60. Following the transaction, the director owned 2,080 shares in the company, valued at $498,784. The trade was a 25.08% increase in their position. The disclosure for this purchase can be found here. Company insiders own 3.60% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on IT shares. William Blair reaffirmed an “outperform” rating on shares of Gartner in a research note on Tuesday, October 21st. BMO Capital Markets lowered their price target on shares of Gartner from $409.00 to $272.00 and set a “market perform” rating for the company in a report on Wednesday, August 6th. Royal Bank Of Canada assumed coverage on Gartner in a report on Tuesday, September 9th. They set a “sector perform” rating and a $263.00 price objective on the stock. Truist Financial assumed coverage on Gartner in a research report on Thursday, October 16th. They issued a “buy” rating and a $300.00 price objective on the stock. Finally, Barclays set a $270.00 price target on Gartner and gave the company an “equal weight” rating in a research note on Wednesday, October 22nd. Four 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’s stock. According to data from MarketBeat.com, Gartner has an average rating of “Hold” and a consensus price target of $346.20.

Gartner Price Performance

Shares of IT opened at $255.75 on Tuesday. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 1.61. Gartner, Inc. has a 1 year low of $223.65 and a 1 year high of $584.01. The stock has a market cap of $19.37 billion, a P/E ratio of 15.74 and a beta of 1.20. The stock’s 50-day moving average price is $249.06 and its two-hundred day moving average price is $338.54.

Gartner (NYSE:IT) last released its quarterly earnings results on Tuesday, August 5th. The information technology services provider reported $3.53 EPS for the quarter, topping analysts’ consensus estimates of $3.38 by $0.15. The company had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.68 billion. Gartner had a return on equity of 82.63% and a net margin of 19.71%.Gartner’s revenue was up 5.7% compared to the same quarter last year. During the same quarter last year, the firm posted $3.22 earnings per share. Gartner has set its FY 2025 guidance at 11.750- EPS. On average, equities analysts predict that Gartner, Inc. will post 12.5 earnings per share for the current year.

About Gartner

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.