Rakuten Investment Management Inc. Purchases New Position in Gartner, Inc. $IT

Rakuten Investment Management Inc. acquired a new position in shares of Gartner, Inc. (NYSE:IT) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 24,716 shares of the information technology services provider’s stock, valued at approximately $6,497,000.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Aviva PLC grew its position in Gartner by 6.1% during the 2nd quarter. Aviva PLC now owns 58,559 shares of the information technology services provider’s stock worth $23,671,000 after acquiring an additional 3,390 shares during the last quarter. Highland Capital Management LLC bought a new position in Gartner in the third quarter valued at about $1,502,000. Buttonwood Financial Advisors Inc. acquired a new stake in shares of Gartner during the third quarter valued at about $1,581,000. State of Michigan Retirement System grew its holdings in shares of Gartner by 10.1% during the second quarter. State of Michigan Retirement System now owns 22,947 shares of the information technology services provider’s stock worth $9,276,000 after purchasing an additional 2,100 shares during the last quarter. Finally, Edgestream Partners L.P. increased its stake in shares of Gartner by 774.5% in the second quarter. Edgestream Partners L.P. now owns 22,080 shares of the information technology services provider’s stock valued at $8,925,000 after buying an additional 19,555 shares during the period. Institutional investors and hedge funds own 91.51% of the company’s stock.

Analysts Set New Price Targets

IT has been the topic of several recent research reports. Truist Financial set a $300.00 target price on shares of Gartner in a research report on Wednesday, November 26th. Wells Fargo & Company cut their price target on shares of Gartner from $231.00 to $218.00 and set an “underweight” rating on the stock in a report on Wednesday, November 5th. BMO Capital Markets reduced their price objective on shares of Gartner from $272.00 to $254.00 and set a “market perform” rating on the stock in a research note on Wednesday, November 5th. William Blair restated an “outperform” rating on shares of Gartner in a report on Tuesday, October 21st. Finally, Weiss Ratings downgraded Gartner from a “hold (c-)” rating to a “sell (d+)” rating in a report on Saturday, October 25th. Four research analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $309.67.

Insider Activity

In other news, EVP Claire Herkes sold 367 shares of the business’s stock in a transaction dated Wednesday, December 3rd. The stock was sold at an average price of $231.56, for a total value of $84,982.52. Following the transaction, the executive vice president directly 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 sale 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 firm’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 directly owned 3,046 shares of the company’s stock, valued at $699,270.22. This represents a 6.74% decrease in their position. The disclosure for this sale is available in the SEC filing. 2.30% of the stock is owned by company insiders.

Gartner Trading Up 1.9%

NYSE:IT opened at $236.93 on Friday. Gartner, Inc. has a 52 week low of $221.16 and a 52 week high of $584.01. The company has a debt-to-equity ratio of 4.42, a quick ratio of 0.88 and a current ratio of 0.88. The firm’s fifty day moving average is $238.18 and its 200-day moving average is $259.79. The firm has a market cap of $17.08 billion, a P/E ratio of 20.78 and a beta of 1.07.

Gartner (NYSE:IT) last announced its 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 during the quarter, compared to the consensus estimate 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. Equities analysts expect that Gartner, Inc. will post 12.5 earnings per share for the current year.

Gartner 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.