Legal & General Group Plc Takes Position in Gartner, Inc. $IT

Legal & General Group Plc acquired a new stake in Gartner, Inc. (NYSE:IT) in the second quarter, Holdings Channel reports. The firm acquired 216,379 shares of the information technology services provider’s stock, valued at approximately $28,047,000.

A number of other hedge funds also recently added to or reduced their stakes in IT. DV Equities LLC purchased a new position in Gartner in the 4th quarter valued at approximately $25,000. Entrust Financial LLC purchased a new stake in shares of Gartner during the fourth quarter worth $26,000. Bell Investment Advisors Inc increased its position in shares of Gartner by 75.5% during the first quarter. Bell Investment Advisors Inc now owns 172 shares of the information technology services provider’s stock worth $27,000 after acquiring an additional 74 shares during the period. Elyxium Wealth LLC purchased a new stake in shares of Gartner during the fourth quarter worth $28,000. Finally, Activest Wealth Management raised its stake in shares of Gartner by 11,600.0% in the fourth quarter. Activest Wealth Management now owns 117 shares of the information technology services provider’s stock valued at $30,000 after acquiring an additional 116 shares in the last quarter. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Gartner Price Performance

IT stock opened at $198.22 on Friday. The business has a 50 day moving average price of $157.78 and a 200 day moving average price of $156.26. The stock has a market cap of $12.52 billion, a price-to-earnings ratio of 17.78, a PEG ratio of 0.68 and a beta of 0.94. Gartner, Inc. has a fifty-two week low of $124.25 and a fifty-two week high of $265.85. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 46.98.

Gartner (NYSE:IT) last announced its quarterly earnings results on Tuesday, August 4th. The information technology services provider reported $4.37 EPS for the quarter, beating the consensus estimate of $3.76 by $0.61. Gartner had a net margin of 11.99% and a return on equity of 525.46%. The company had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.65 billion. During the same period in the prior year, the firm posted $3.53 earnings per share. The firm’s revenue was down .6% on a year-over-year basis. Gartner has set its FY 2026 guidance at 14.000- EPS. Equities research analysts anticipate that Gartner, Inc. will post 14.42 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Akhil Jain sold 700 shares of the stock in a transaction on Monday, August 24th. The shares were sold at an average price of $201.73, for a total value of $141,211.00. Following the transaction, the executive vice president directly owned 8,130 shares of the company’s stock, valued at $1,640,064.90. This trade represents a 7.93% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Yvonne Genovese sold 1,205 shares of Gartner stock in a transaction on Monday, August 10th. The stock was sold at an average price of $190.06, for a total transaction of $229,022.30. Following the sale, the executive vice president owned 6,208 shares in the company, valued at $1,179,892.48. This represents a 16.26% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 2,765 shares of company stock worth $528,731. Corporate insiders own 2.60% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on the company. Truist Financial set a $205.00 target price on Gartner in a research note on Wednesday, August 5th. Morgan Stanley set a $177.00 price target on Gartner in a research report on Wednesday, August 5th. Royal Bank Of Canada lifted their price objective on Gartner from $160.00 to $164.00 and gave the company a “sector perform” rating in a research note on Wednesday, August 5th. The Goldman Sachs Group boosted their price objective on Gartner from $162.00 to $181.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 5th. Finally, Wells Fargo & Company upped their target price on shares of Gartner from $120.00 to $150.00 and gave the stock an “underweight” rating in a research note on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $187.30.

About Gartner

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.