Weitz Investment Management Inc. Reduces Position in Gartner, Inc. $IT

Weitz Investment Management Inc. cut its holdings in shares of Gartner, Inc. (NYSE:IT) by 77.3% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 24,425 shares of the information technology services provider’s stock after selling 82,950 shares during the quarter. Weitz Investment Management Inc.’s holdings in Gartner were worth $6,162,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. Andra AP fonden boosted its position in shares of Gartner by 121.6% during the fourth quarter. Andra AP fonden now owns 121,920 shares of the information technology services provider’s stock valued at $30,758,000 after buying an additional 66,914 shares during the last quarter. Connecticut Wealth Management LLC boosted its position in shares of Gartner by 3.7% during the fourth quarter. Connecticut Wealth Management LLC now owns 5,542 shares of the information technology services provider’s stock valued at $1,398,000 after buying an additional 196 shares during the last quarter. Aviva PLC boosted its position in shares of Gartner by 2.3% during the fourth quarter. Aviva PLC now owns 64,392 shares of the information technology services provider’s stock valued at $16,245,000 after buying an additional 1,426 shares during the last quarter. Caerus Investment Advisors LLC boosted its position in shares of Gartner by 321.4% during the fourth quarter. Caerus Investment Advisors LLC now owns 3,371 shares of the information technology services provider’s stock valued at $850,000 after buying an additional 2,571 shares during the last quarter. Finally, Xponance LLC boosted its position in shares of Gartner by 2.8% during the fourth quarter. Xponance LLC now owns 18,808 shares of the information technology services provider’s stock valued at $4,745,000 after buying an additional 513 shares during the last quarter. 91.51% of the stock is owned by hedge funds and other institutional investors.

Gartner Trading Down 4.2%

Shares of NYSE:IT opened at $148.45 on Friday. The stock has a market capitalization of $9.94 billion, a price-to-earnings ratio of 14.67, a PEG ratio of 0.85 and a beta of 0.94. The company has a debt-to-equity ratio of 46.98, a quick ratio of 0.94 and a current ratio of 0.94. The stock’s 50-day simple moving average is $155.20 and its two-hundred day simple moving average is $185.57. Gartner, Inc. has a 52-week low of $139.18 and a 52-week high of $416.74.

Gartner (NYSE:IT) last announced its earnings results on Tuesday, May 5th. The information technology services provider reported $3.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.99 by $0.33. The business had revenue of $1.49 billion for the quarter, compared to analysts’ expectations of $1.51 billion. Gartner had a return on equity of 161.39% and a net margin of 11.44%.The business’s revenue for the quarter was down 1.5% on a year-over-year basis. During the same period last year, the firm posted $2.98 earnings per share. Gartner has set its FY 2026 guidance at 13.250- EPS. Analysts expect that Gartner, Inc. will post 13.7 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on IT shares. UBS Group increased their price objective on Gartner from $166.00 to $170.00 and gave the company a “neutral” rating in a research report on Wednesday, May 6th. Morgan Stanley dropped their price objective on Gartner from $200.00 to $183.00 and set an “equal weight” rating on the stock in a research report on Wednesday, May 6th. Barclays dropped their price objective on Gartner from $180.00 to $150.00 and set an “equal weight” rating on the stock in a research report on Friday, April 10th. The Goldman Sachs Group set a $162.00 price objective on Gartner in a research report on Tuesday, May 5th. Finally, Wells Fargo & Company dropped their target price on Gartner from $150.00 to $140.00 and set an “underweight” rating on the stock in a research report on Friday, March 27th. Two investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $176.70.

Gartner 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.