Mitsubishi UFJ Asset Management Co. Ltd. Increases Stake in Gartner, Inc. $IT

Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of Gartner, Inc. (NYSE:IT) by 7.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 146,950 shares of the information technology services provider’s stock after purchasing an additional 10,644 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.19% of Gartner worth $59,400,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of IT. Brighton Jones LLC acquired a new position in Gartner during the fourth quarter worth about $309,000. Allworth Financial LP lifted its stake in Gartner by 5.6% in the 1st quarter. Allworth Financial LP now owns 562 shares of the information technology services provider’s stock worth $235,000 after purchasing an additional 30 shares in the last quarter. Alps Advisors Inc. boosted its holdings in shares of Gartner by 11.4% during the 1st quarter. Alps Advisors Inc. now owns 780 shares of the information technology services provider’s stock worth $327,000 after purchasing an additional 80 shares during the last quarter. Xponance Inc. grew its position in shares of Gartner by 0.3% in the first quarter. Xponance Inc. now owns 17,811 shares of the information technology services provider’s stock valued at $7,476,000 after purchasing an additional 61 shares in the last quarter. Finally, New York State Common Retirement Fund grew its position in shares of Gartner by 1.2% in the first quarter. New York State Common Retirement Fund now owns 43,236 shares of the information technology services provider’s stock valued at $18,148,000 after purchasing an additional 500 shares in the last quarter. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Gartner Price Performance

Shares of IT opened at $230.44 on Monday. The firm has a 50-day simple moving average of $248.17 and a two-hundred day simple moving average of $327.92. The stock has a market cap of $17.45 billion, a PE ratio of 14.18 and a beta of 1.19. Gartner, Inc. has a 1-year low of $222.54 and a 1-year high of $584.01. The company has a debt-to-equity ratio of 1.61, a current ratio of 1.11 and a quick ratio of 1.11.

Gartner (NYSE:IT) last posted its quarterly earnings data on Tuesday, November 4th. The information technology services provider reported $2.76 earnings per share for the quarter, topping analysts’ consensus estimates of $2.41 by $0.35. Gartner had a net margin of 19.71% and a return on equity of 82.63%. The firm had revenue of $1.52 billion during the quarter, compared to analysts’ expectations of $1.52 billion. Gartner has set its FY 2025 guidance at 12.650- EPS. As a group, analysts forecast that Gartner, Inc. will post 12.5 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. The Goldman Sachs Group lowered 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. UBS Group reduced their price target on Gartner from $280.00 to $256.00 and set a “neutral” rating on the stock in a report on Wednesday, November 5th. William Blair reissued an “outperform” rating on shares of Gartner in a research report on Tuesday, October 21st. Barclays cut their price objective on shares of Gartner from $270.00 to $260.00 and set an “equal weight” rating for the company in a research report on Wednesday. Finally, Morgan Stanley set a $307.00 target price on shares of Gartner in a research note on Monday, October 13th. Four equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $311.67.

Insider Buying and Selling at Gartner

In related 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 completion of the transaction, the senior vice president directly owned 3,225 shares in the company, valued at $805,314.75. This trade represents a 3.15% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Jose M. Gutierrez bought 417 shares of the company’s stock in a transaction on Monday, August 18th. The stock was purchased at an average cost of $239.80 per share, with a total value of $99,996.60. Following the completion of the transaction, the director owned 2,080 shares in the company, valued at $498,784. This represents a 25.08% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Company insiders own 2.30% of the company’s stock.

Gartner Profile

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.