Resona Asset Management Co. Ltd. Grows Holdings in Gartner, Inc. $IT

Resona Asset Management Co. Ltd. increased its holdings in shares of Gartner, Inc. (NYSE:IT) by 51.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 248,028 shares of the information technology services provider’s stock after purchasing an additional 83,789 shares during the period. Resona Asset Management Co. Ltd.’s holdings in Gartner were worth $65,068,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Addison Advisors LLC purchased a new stake in shares of Gartner in the second quarter valued at about $27,000. True Wealth Design LLC increased its position in Gartner by 1,130.8% in the 3rd quarter. True Wealth Design LLC now owns 160 shares of the information technology services provider’s stock valued at $42,000 after acquiring an additional 147 shares during the period. Chilton Capital Management LLC acquired a new position in Gartner in the 2nd quarter valued at about $47,000. Versant Capital Management Inc raised its stake in Gartner by 1,284.6% during the 3rd quarter. Versant Capital Management Inc now owns 180 shares of the information technology services provider’s stock valued at $47,000 after acquiring an additional 167 shares during the last quarter. Finally, Osterweis Capital Management Inc. purchased a new stake in Gartner during the 2nd quarter valued at approximately $48,000. 91.51% of the stock is owned by hedge funds and other institutional investors.

Gartner Price Performance

Gartner stock opened at $231.69 on Friday. The company has a market cap of $16.70 billion, a P/E ratio of 20.32 and a beta of 1.07. Gartner, Inc. has a one year low of $221.16 and a one year high of $584.01. The business has a fifty day moving average of $238.19 and a two-hundred day moving average of $258.63. The company has a debt-to-equity ratio of 4.42, a quick ratio of 0.88 and a current ratio of 0.88.

Gartner (NYSE:IT) last posted its quarterly earnings results 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. The business had revenue of $1.52 billion for the quarter, compared to analysts’ expectations of $1.52 billion. Gartner had a net margin of 13.71% and a return on equity of 92.12%. Gartner has set its FY 2025 guidance at 12.650- EPS. As a group, analysts predict that Gartner, Inc. will post 12.5 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have weighed in on IT shares. Morgan Stanley lowered their target price on Gartner from $281.00 to $275.00 and set an “equal weight” rating on the stock in a research note on Wednesday, December 17th. Truist Financial set a $300.00 price objective on shares of Gartner in a research report on Wednesday, November 26th. BMO Capital Markets cut their price objective on shares of Gartner from $272.00 to $254.00 and set a “market perform” rating for the company in a research report on Wednesday, November 5th. Barclays reduced their target price on shares of Gartner from $270.00 to $260.00 and set an “equal weight” rating for the company in a research note on Wednesday, November 5th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Gartner in a research note on Thursday. Four research analysts have rated the stock with a Buy rating, six have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $309.67.

Insiders Place Their Bets

In other Gartner news, EVP Claire Herkes sold 367 shares of the stock in a transaction dated Wednesday, December 3rd. The shares were sold at an average price of $231.56, for a total value of $84,982.52. Following the completion of the transaction, the executive vice president directly owned 4,074 shares of the company’s stock, valued at approximately $943,375.44. This trade represents a 8.26% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP John J. Rinello sold 220 shares of Gartner stock in a transaction that occurred on Wednesday, December 3rd. The shares were sold at an average price of $229.57, for a total transaction of $50,505.40. Following the sale, the senior vice president owned 3,046 shares of the company’s stock, valued at approximately $699,270.22. The trade was a 6.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 2.30% of the stock is currently owned by company insiders.

Gartner Company 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.