Resona Asset Management Co. Ltd. Sells 218,512 Shares of Gartner, Inc. $IT

Resona Asset Management Co. Ltd. lessened its stake in Gartner, Inc. (NYSE:IT) by 89.4% during the 1st quarter, Holdings Channel.com reports. The firm owned 26,001 shares of the information technology services provider’s stock after selling 218,512 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in Gartner were worth $4,120,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Physician Wealth Advisors Inc. boosted its stake in Gartner by 143.9% in the fourth quarter. Physician Wealth Advisors Inc. now owns 100 shares of the information technology services provider’s stock valued at $25,000 after acquiring an additional 59 shares in the last quarter. DV Equities LLC acquired a new position in shares of Gartner during the fourth quarter worth $25,000. Rakuten Securities Inc. lifted its holdings in shares of Gartner by 1,980.0% during the 4th quarter. Rakuten Securities Inc. now owns 104 shares of the information technology services provider’s stock valued at $26,000 after purchasing an additional 99 shares during the last quarter. Entrust Financial LLC acquired a new stake in shares of Gartner in the 4th quarter worth $26,000. Finally, Elyxium Wealth LLC acquired a new stake in shares of Gartner in the 4th quarter worth $28,000. 91.51% of the stock is owned by hedge funds and other institutional investors.

Gartner Stock Performance

Shares of IT opened at $133.26 on Monday. The company has a debt-to-equity ratio of 46.98, a quick ratio of 0.94 and a current ratio of 0.94. The stock has a 50-day moving average of $147.47 and a two-hundred day moving average of $170.46. The stock has a market cap of $8.92 billion, a P/E ratio of 13.17, a P/E/G ratio of 0.73 and a beta of 0.97. Gartner, Inc. has a one year low of $124.25 and a one year high of $386.05.

Gartner (NYSE:IT) last announced its quarterly earnings data on Tuesday, May 5th. The information technology services provider reported $3.32 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $1.49 billion during the quarter, compared to analysts’ expectations of $1.51 billion. During the same period last year, the business posted $2.98 earnings per share. The company’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. As a group, research analysts predict that Gartner, Inc. will post 13.65 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on IT shares. Weiss Ratings lowered Gartner from a “sell (d+)” rating to a “sell (d)” rating in a research report on Wednesday, June 24th. Barclays lowered their price target on Gartner from $180.00 to $150.00 and set an “equal weight” rating for the company 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 on the stock in a report on Friday, June 12th. The Goldman Sachs Group set a $162.00 price objective on shares of Gartner in a research report on Tuesday, May 5th. Finally, Morgan Stanley lowered 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 note on Friday. Two research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, Gartner currently has an average rating of “Hold” and an average target price of $173.10.

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.