Mirae Asset Global Investments Co. Ltd. Increases Stake in Gartner, Inc. (NYSE:IT)

Posted by Defense World Staff on May 21st, 2023

Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Gartner, Inc. (NYSE:IT – Get Rating) by 62.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 31,189 shares of the information technology services provider’s stock after buying an additional 11,937 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Gartner were worth $10,484,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently modified their holdings of the company. US Bancorp DE grew its holdings in Gartner by 6.0% in the first quarter. US Bancorp DE now owns 2,563 shares of the information technology services provider’s stock worth $762,000 after purchasing an additional 144 shares during the period. Aviva PLC grew its holdings in Gartner by 53.3% in the first quarter. Aviva PLC now owns 42,028 shares of the information technology services provider’s stock worth $12,502,000 after purchasing an additional 14,618 shares during the period. Canada Pension Plan Investment Board grew its holdings in Gartner by 9.5% in the first quarter. Canada Pension Plan Investment Board now owns 27,043 shares of the information technology services provider’s stock worth $8,044,000 after purchasing an additional 2,347 shares during the period. Allianz Asset Management GmbH grew its holdings in Gartner by 25.2% in the first quarter. Allianz Asset Management GmbH now owns 98,889 shares of the information technology services provider’s stock worth $29,415,000 after purchasing an additional 19,892 shares during the period. Finally, Vanguard Group Inc. grew its holdings in Gartner by 1.1% in the first quarter. Vanguard Group Inc. now owns 9,198,161 shares of the information technology services provider’s stock worth $2,736,085,000 after purchasing an additional 102,709 shares during the period. Hedge funds and other institutional investors own 91.86% of the company’s stock.

Gartner Stock Down 0.2 %

Shares of Gartner stock opened at $330.77 on Friday. The company has a market cap of $26.14 billion, a price-to-earnings ratio of 28.54, a price-to-earnings-growth ratio of 4.38 and a beta of 1.28. The company’s 50 day moving average is $311.69 and its 200 day moving average is $328.40. Gartner, Inc. has a twelve month low of $221.39 and a twelve month high of $358.25. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 5.19.

Gartner (NYSE:IT – Get Rating) last issued its quarterly earnings data on Tuesday, May 2nd. The information technology services provider reported $2.88 earnings per share for the quarter, beating analysts’ consensus estimates of $2.04 by $0.84. Gartner had a net margin of 16.56% and a return on equity of 772.55%. The company had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.37 billion. During the same quarter in the prior year, the firm earned $2.33 earnings per share. The firm’s revenue for the quarter was up 11.6% compared to the same quarter last year. Research analysts anticipate that Gartner, Inc. will post 10.05 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. StockNews.com assumed coverage on shares of Gartner in a report on Thursday. They issued a “buy” rating on the stock. Morgan Stanley upped their target price on shares of Gartner from $358.00 to $366.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 8th. BMO Capital Markets dropped their target price on shares of Gartner from $357.00 to $337.00 and set a “market perform” rating on the stock in a research note on Friday, April 21st. Finally, Wells Fargo & Company dropped their target price on shares of Gartner from $387.00 to $380.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 19th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Gartner currently has an average rating of “Hold” and an average target price of $357.86.

Insiders Place Their Bets

In other Gartner news, CMO Kenneth Allard sold 792 shares of the stock in a transaction that occurred on Thursday, May 18th. The shares were sold at an average price of $327.10, for a total value of $259,063.20. Following the transaction, the chief marketing officer now directly owns 5,985 shares in the company, valued at $1,957,693.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO Craig Safian sold 4,510 shares of the stock in a transaction on Monday, March 6th. The shares were sold at an average price of $341.53, for a total value of $1,540,300.30. Following the completion of the sale, the chief financial officer now directly owns 64,282 shares of the company’s stock, valued at $21,954,231.46. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CMO Kenneth Allard sold 792 shares of the stock in a transaction on Thursday, May 18th. The stock was sold at an average price of $327.10, for a total transaction of $259,063.20. Following the completion of the sale, the chief marketing officer now directly owns 5,985 shares of the company’s stock, valued at $1,957,693.50. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 11,058 shares of company stock worth $3,614,028. Company insiders own 3.90% of the company’s stock.

Gartner Company Profile

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Gartner, Inc is a research and advisory company, which equips business leaders with insights, advice, and tools that help build organizations. It operates through the following segments: Research, Consulting, and Conferences. The Research segment provides executives with objective insights and advice through reports, briefings, proprietary tools, access to the firm?s research experts, peer networking services, and membership programs.