Mitsubishi UFJ Trust & Banking Corp Sells 13,558 Shares of Gartner, Inc. $IT

Mitsubishi UFJ Trust & Banking Corp reduced its stake in shares of Gartner, Inc. (NYSE:IT) by 12.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 91,160 shares of the information technology services provider’s stock after selling 13,558 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned about 0.12% of Gartner worth $23,963,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. UniSuper Management Pty Ltd grew its holdings in Gartner by 16.0% during the third quarter. UniSuper Management Pty Ltd now owns 19,898 shares of the information technology services provider’s stock valued at $5,231,000 after purchasing an additional 2,749 shares during the period. Teacher Retirement System of Texas boosted its position in shares of Gartner by 55.1% during the third quarter. Teacher Retirement System of Texas now owns 128,473 shares of the information technology services provider’s stock worth $33,772,000 after purchasing an additional 45,653 shares in the last quarter. UNIVEST FINANCIAL Corp grew its holdings in shares of Gartner by 49.5% in the 3rd quarter. UNIVEST FINANCIAL Corp now owns 6,226 shares of the information technology services provider’s stock valued at $1,637,000 after buying an additional 2,062 shares during the period. Spear Holdings RSC Ltd increased its position in shares of Gartner by 27.1% in the 3rd quarter. Spear Holdings RSC Ltd now owns 131,800 shares of the information technology services provider’s stock valued at $34,646,000 after buying an additional 28,065 shares in the last quarter. Finally, Andina Capital Management LLC raised its stake in Gartner by 93.4% during the 3rd quarter. Andina Capital Management LLC now owns 1,717 shares of the information technology services provider’s stock worth $451,000 after buying an additional 829 shares during the period. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Gartner Price Performance

Shares of IT opened at $236.28 on Tuesday. The stock has a market capitalization of $17.03 billion, a P/E ratio of 20.73 and a beta of 1.07. Gartner, Inc. has a twelve month low of $221.16 and a twelve month high of $584.01. The company has a 50 day moving average of $238.39 and a 200-day moving average of $255.63. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 4.42.

Gartner (NYSE:IT) last announced its quarterly earnings data on Tuesday, November 4th. The information technology services provider reported $2.76 EPS 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 analyst estimates 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, equities research analysts forecast that Gartner, Inc. will post 12.5 EPS for the current fiscal year.

Insider Activity

In other Gartner news, EVP Claire Herkes sold 367 shares of the business’s stock in a transaction that occurred on Wednesday, December 3rd. The stock was sold at an average price of $231.56, for a total transaction of $84,982.52. Following the transaction, the executive vice president owned 4,074 shares of the company’s stock, valued at $943,375.44. The trade was a 8.26% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP John J. Rinello sold 220 shares of the company’s stock in a transaction that occurred on Wednesday, December 3rd. The stock was sold at an average price of $229.57, for a total value of $50,505.40. Following the sale, the senior vice president owned 3,046 shares in the company, valued at approximately $699,270.22. This represents a 6.74% decrease in their position. The disclosure for this sale is available in the SEC filing. 3.60% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on IT. William Blair reissued an “outperform” rating on shares of Gartner in a research note on Tuesday, October 21st. Wells Fargo & Company decreased their price objective on Gartner from $231.00 to $218.00 and set an “underweight” rating for the company in a research report on Wednesday, November 5th. Morgan Stanley lowered their target price on Gartner from $281.00 to $275.00 and set an “equal weight” rating for the company in a research note on Wednesday, December 17th. UBS Group lifted their price target on shares of Gartner from $256.00 to $270.00 and gave the company a “neutral” rating in a research note on Friday, January 9th. Finally, The Goldman Sachs Group reduced their price target on shares of Gartner from $457.00 to $390.00 and set a “buy” rating for the company in a report on Wednesday, November 5th. Four research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Gartner presently has an average rating of “Hold” and an average target price of $309.67.

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.