Swedbank AB Sells 14,847 Shares of Gartner, Inc. $IT

Swedbank AB reduced its position in Gartner, Inc. (NYSE:IT) by 25.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 42,883 shares of the information technology services provider’s stock after selling 14,847 shares during the quarter. Swedbank AB’s holdings in Gartner were worth $6,790,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Wall Street Analyst Weigh In

A number of research analysts recently commented on IT shares. Barclays lowered their price target on Gartner from $180.00 to $150.00 and set an “equal weight” rating on the stock in a report on Friday, April 10th. UBS Group cut their price objective on shares of Gartner from $170.00 to $164.00 and set a “neutral” rating for the company in a report on Friday, June 12th. Wells Fargo & Company reduced their price objective on shares of Gartner from $140.00 to $120.00 and set an “underweight” rating on the stock in a research report on Wednesday, June 24th. Weiss Ratings downgraded shares of Gartner from a “sell (d+)” rating to a “sell (d)” rating in a report on Wednesday, June 24th. Finally, Morgan Stanley dropped their target price on shares of Gartner from $183.00 to $173.00 and set an “equal weight” rating for the company in a research report on Friday. Two equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $173.10.

Gartner Price Performance

Shares of NYSE:IT traded up $0.57 during mid-day trading on Friday, reaching $133.26. The stock had a trading volume of 1,226,856 shares, compared to its average volume of 1,407,668. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 46.98. The company has a market cap of $8.92 billion, a P/E ratio of 13.17, a price-to-earnings-growth ratio of 0.73 and a beta of 0.97. Gartner, Inc. has a 1 year low of $124.25 and a 1 year high of $386.05. The business’s 50 day moving average price is $147.47 and its 200 day moving average price is $171.02.

Gartner (NYSE:IT) last released its quarterly earnings results on Tuesday, May 5th. The information technology services provider reported $3.32 earnings per share for the quarter, beating the consensus estimate of $2.99 by $0.33. Gartner had a return on equity of 161.39% and a net margin of 11.44%.The business had revenue of $1.49 billion during the quarter, compared to analysts’ expectations of $1.51 billion. During the same quarter last year, the business posted $2.98 EPS. The firm’s revenue for the quarter was down 1.5% compared to the same quarter last year. Gartner has set its FY 2026 guidance at 13.250- EPS. Research analysts expect that Gartner, Inc. will post 13.65 EPS for the current fiscal year.

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.