Hsbc Holdings PLC Makes New Investment in Gartner, Inc. $IT

Hsbc Holdings PLC acquired a new stake in shares of Gartner, Inc. (NYSE:IT) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 98,605 shares of the information technology services provider’s stock, valued at approximately $12,785,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in IT. Ancora Advisors LLC purchased a new stake in shares of Gartner in the 2nd quarter worth $1,122,000. Primecap Management Co. CA bought a new stake in Gartner during the 2nd quarter valued at approximately $15,217,000. Canada Pension Plan Investment Board bought a new stake in shares of Gartner during the second quarter valued at approximately $8,039,000. Legal & General Group Plc purchased a new stake in Gartner in the 2nd quarter worth $28,047,000. Finally, The Manufacturers Life Insurance Company purchased a new stake in shares of Gartner in the second quarter worth about $6,359,000. 91.51% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Anne Sutherland Fuchs sold 860 shares of Gartner stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $184.30, for a total value of $158,498.00. Following the sale, the director owned 8,097 shares in the company, valued at $1,492,277.10. This trade represents a 9.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Yvonne Genovese sold 1,205 shares of Gartner stock in a transaction dated 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 sale, the executive vice president owned 6,208 shares in the company, valued at approximately $1,179,892.48. The trade was a 16.26% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 2,765 shares of company stock valued at $528,731. 2.60% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research analysts recently commented on IT shares. UBS Group increased their price target on shares of Gartner from $164.00 to $196.00 and gave the company a “neutral” rating in a report on Wednesday, August 5th. Wells Fargo & Company boosted their target price on shares of Gartner from $120.00 to $150.00 and gave the company an “underweight” rating in a research note on Wednesday, August 5th. Truist Financial set a $205.00 price objective on Gartner in a research note on Wednesday, August 5th. Weiss Ratings raised shares of Gartner from a “sell (d)” rating to a “sell (d+)” rating in a research report on Thursday, August 13th. Finally, The Goldman Sachs Group lifted their price target on Gartner from $162.00 to $181.00 and gave the company a “neutral” rating in a report on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $187.30.

Gartner Price Performance

NYSE:IT opened at $198.22 on Friday. The firm has a market cap of $12.52 billion, a price-to-earnings ratio of 17.78, a PEG ratio of 0.68 and a beta of 0.94. Gartner, Inc. has a one year low of $124.25 and a one year high of $265.85. The firm’s fifty day moving average is $157.78 and its two-hundred day moving average is $156.26. The company has a debt-to-equity ratio of 46.98, a quick ratio of 0.88 and a current ratio of 0.88.

Gartner (NYSE:IT) last announced its quarterly earnings results on Tuesday, August 4th. The information technology services provider reported $4.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.76 by $0.61. Gartner had a return on equity of 525.46% and a net margin of 11.99%.The company had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.65 billion. During the same period in the previous year, the company posted $3.53 earnings per share. Gartner’s revenue for the quarter was down .6% on a year-over-year basis. Gartner has set its FY 2026 guidance at 14.000- EPS. Research analysts expect that Gartner, Inc. will post 14.42 EPS for the current year.

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.