Geode Capital Management LLC Sells 19,561 Shares of Gartner, Inc. $IT

Geode Capital Management LLC reduced its position in Gartner, Inc. (NYSE:IT) by 0.9% during the fourth quarter, Holdings Channel reports. The institutional investor owned 2,218,890 shares of the information technology services provider’s stock after selling 19,561 shares during the quarter. Geode Capital Management LLC’s holdings in Gartner were worth $559,082,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of IT. Brighton Jones LLC bought a new stake in shares of Gartner in the 4th quarter valued at about $309,000. Sivia Capital Partners LLC bought a new stake in shares of Gartner in the 2nd quarter valued at about $336,000. Cresset Asset Management LLC boosted its holdings in shares of Gartner by 15.2% in the 2nd quarter. Cresset Asset Management LLC now owns 1,446 shares of the information technology services provider’s stock valued at $585,000 after buying an additional 191 shares in the last quarter. Sei Investments Co. boosted its holdings in shares of Gartner by 9.2% in the 2nd quarter. Sei Investments Co. now owns 91,205 shares of the information technology services provider’s stock valued at $36,867,000 after buying an additional 7,678 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its holdings in shares of Gartner by 111.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 95,301 shares of the information technology services provider’s stock valued at $38,523,000 after buying an additional 50,251 shares in the last quarter. 91.51% of the stock is currently owned by institutional investors.

Gartner Stock Up 0.8%

IT stock opened at $162.45 on Friday. The firm has a 50 day moving average of $154.16 and a 200 day moving average of $190.02. The stock has a market capitalization of $10.88 billion, a PE ratio of 16.05, a price-to-earnings-growth ratio of 0.89 and a beta of 0.91. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 46.98. Gartner, Inc. has a 52 week low of $139.18 and a 52 week high of $437.84.

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

Analysts Set New Price Targets

A number of research firms have recently weighed in on IT. BMO Capital Markets restated a “market perform” rating on shares of Gartner in a report on Thursday, February 5th. Robert W. Baird set a $240.00 target price on shares of Gartner in a research note on Wednesday, February 4th. Royal Bank Of Canada lowered their target price on shares of Gartner from $175.00 to $160.00 and set a “sector perform” rating for the company in a research note on Wednesday, May 6th. The Goldman Sachs Group set a $162.00 target price on shares of Gartner in a research note on Tuesday, May 5th. Finally, Barclays lowered their target price on shares of Gartner from $180.00 to $150.00 and set an “equal weight” rating for the company in a research note on Friday, April 10th. Two research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Gartner currently 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.