3,156 Shares in Gartner, Inc. $IT Acquired by Westpac Banking Corp

Westpac Banking Corp purchased a new position in Gartner, Inc. (NYSE:IT) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,156 shares of the information technology services provider’s stock, valued at approximately $409,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Oppenheimer Asset Management Inc. bought a new stake in Gartner during the 2nd quarter valued at $2,872,000. Plato Investment Management Ltd raised its holdings in Gartner by 293.4% during the fourth quarter. Plato Investment Management Ltd now owns 9,002 shares of the information technology services provider’s stock worth $2,282,000 after buying an additional 6,714 shares during the last quarter. Ashton Thomas Private Wealth LLC bought a new position in shares of Gartner in the fourth quarter valued at $3,318,000. Wedge Capital Management L L P NC lifted its stake in shares of Gartner by 34.1% in the second quarter. Wedge Capital Management L L P NC now owns 54,196 shares of the information technology services provider’s stock valued at $7,025,000 after buying an additional 13,776 shares in the last quarter. Finally, Bank of America Corp DE lifted its stake in shares of Gartner by 60.1% in the first quarter. Bank of America Corp DE now owns 773,771 shares of the information technology services provider’s stock valued at $122,519,000 after buying an additional 290,499 shares in the last quarter. Institutional investors and hedge funds own 91.51% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on IT shares. UBS Group boosted their target price on shares of Gartner from $164.00 to $196.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 5th. Zacks Research raised shares of Gartner from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 6th. Royal Bank Of Canada lifted their price target on Gartner from $160.00 to $164.00 and gave the company a “sector perform” rating in a research note on Wednesday, August 5th. Wells Fargo & Company boosted their price objective on Gartner from $120.00 to $150.00 and gave the stock an “underweight” rating in a report on Wednesday, August 5th. Finally, BMO Capital Markets lowered their price objective on Gartner from $214.00 to $206.00 and set a “market perform” rating for the company in a research note on Tuesday, August 18th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $187.30.

Gartner Stock Performance

NYSE IT opened at $195.92 on Friday. The company has a fifty day moving average price of $151.55 and a 200-day moving average price of $155.15. The firm has a market cap of $12.37 billion, a price-to-earnings ratio of 17.57, a PEG ratio of 0.65 and a beta of 0.94. The company has a debt-to-equity ratio of 46.98, a current ratio of 0.88 and a quick ratio of 0.88. Gartner, Inc. has a 1 year low of $124.25 and a 1 year high of $265.85.

Gartner (NYSE:IT) last released its quarterly earnings results on Tuesday, August 4th. The information technology services provider reported $4.37 earnings per share for the quarter, beating analysts’ consensus estimates 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 last year, the firm earned $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. As a group, equities research analysts predict that Gartner, Inc. will post 14.42 EPS for the current fiscal year.

Insider Activity

In other news, EVP Yvonne Genovese sold 1,205 shares of the company’s stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $190.06, for a total value of $229,022.30. Following the completion of the transaction, the executive vice president directly owned 6,208 shares of the company’s stock, valued at $1,179,892.48. This represents a 16.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Anne Sutherland Fuchs sold 860 shares of the company’s stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $184.30, for a total value of $158,498.00. Following the completion of the transaction, the director directly owned 8,097 shares of the company’s stock, valued at approximately $1,492,277.10. This represents a 9.60% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 2.60% of the company’s stock.

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.