Fernbridge Capital Management LP, a renowned investment firm, has recently increased its holdings in Gartner, Inc. (NYSE:IT) by 46.2% during the first quarter of this year. According to the Securities and Exchange Commission filing, Fernbridge now owns 102,925 shares of Gartner’s stock after acquiring an additional 32,528 shares in this period.
With these increased holdings, Gartner accounts for approximately 3.8% of Fernbridge Capital Management LP’s total portfolio, making it their 11th largest holding.
Based on the most recent SEC filing, Fernbridge Capital Management LP’s ownership in Gartner is estimated to be worth $33,530,000. This demonstrates the investment firm’s confidence in the potential growth and value of Gartner as a part of their overall investment strategy.
Gartner is a prominent information technology services provider listed on the New York Stock Exchange under the ticker symbol IT. The company recently released its quarterly earnings results on August 1st. The report highlighted that Gartner surpassed analysts’ expectations by reporting $2.85 earnings per share (EPS) for the quarter, exceeding estimates by $0.34.
Additionally, Gartner exhibited a return on equity of an impressive 310.25% and a net margin of 16.08%. The company generated $1.50 billion in revenue during the quarter, which outperformed consensus estimates pegged at $1.48 billion.
In comparison to the same period last year when Gartner earned $2.85 EPS, the company experienced a slight decline in profit per share without significantly impacting its financial performance.
Analysts believe that based on these positive figures from past quarters, Gartner will continue to display strong financial results throughout this year. As a group, equities analysts are projecting that Gartner is likely to post around 10.06 earnings per share for the current fiscal year.
Investors and financial experts are eagerly following Gartner’s progress, as the company occupies a prominent position in Fernbridge Capital Management LP’s portfolio. This increased investment by Fernbridge further emphasizes their confidence in Gartner’s potential for growth.
Overall, with its solid financial performance and the support of Fernbridge Capital Management LP, Gartner remains an attractive option for investors interested in the information technology services sector.
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Recent Changes in Hedge Fund and Institutional Investor Positions on Gartner: Stock Performance, Insider Activities, and Analyst Opinions
As of September 10, 2023, hedge funds and institutional investors have made several notable changes in their positions regarding Gartner, a leading provider of information technology services. Johnson Financial Group Inc. purchased a new stake in Gartner during the fourth quarter of the previous year amounting to around $25,000. This was followed by Resurgent Financial Advisors LLC, who also acquired a new stake worth approximately $29,000 during the same period.
Furthermore, IFP Advisors Inc increased its position in Gartner by 24.7% in the first quarter of this year. The firm now owns 450 shares valued at $31,000 after adding an additional 89 shares to its portfolio. Similarly, CoreCap Advisors LLC entered the scene as they acquired a new position in Gartner during the fourth quarter for an estimated value of $34,000. Venturi Wealth Management LLC rounded out the list of recent investors with their acquisition of a new position worth $35,000 during the first quarter. It is interesting to note that hedge funds and other institutional investors now own 90.28% of Gartner’s stock.
Looking at NYSE IT’s trading activity on Friday, it can be observed that the stock reached a price of $354.15 during trading hours. A total of 341,531 shares exchanged hands compared to its average volume of 306,289 shares traded daily. Currently with a market capitalization of $27.91 billion, a PE ratio standing at 30.69, and a beta value measuring 1.24 – signifying higher volatility compared to market benchmarks – Gartner’s stock performance attracts both attention and perplexity.
With regards to its financial health ratios – Gartner holds a current ratio and quick ratio both amounting to only 0.87 as recorded recently indicating limited liquidity reserves – while maintaining a debt-to-equity ratio of 4:18 further highlighting the uncertainties that surround the company and its financial stability. Moreover, Gartner’s stock price has seen a 12-month low of $272.58 and a 12-month high of $377.88 illustrating the volatility and potential for significant fluctuations within the market.
Moving onto recent insider activities, EVP Alwyn Dawkins sold 887 shares of Gartner stock on June 15th at an average price of $356.78 resulting in a total transaction value of $316,463.86. With this sale, Dawkins now directly holds 45,914 shares valued at approximately $16,381,196.92. A similar pattern appeared when EVP Valentin Sribar sold 420 shares on June 13th at an average price of $353.80 totaling to about $148,596 in transaction value. Sribar now directly owns 11,787 shares amounting to approximately $4,170,240.60.
In terms of analyst opinions on Gartner, several research firms have shared their assessments and outlooks on the company’s stock performance. UBS Group initiated coverage on Gartner with a “neutral” rating and set a price objective of $368.00 back in May 31st this year. Meanwhile, StockNews.com assumed coverage on Gartner and assigned it a “hold” rating in August last year.
BMO Capital Markets also chimed in by lowering their price objective from $352.00 to $346.00 in August 3rd’s research report for Gartner’s stock analysis review purposes.
Morgan Stanley took a different approach as they increased their price target from $366 to $372 with an “equal weight” rating provided on August 2nd this year – contributing to mixed reviews within the industry for Gartner’s prospects within the market space.
After examining various research reports from these respected institutions along with other available information sources such as Bloomberg.com – it is evident that the overall average rating for Gartner currently stands at “Hold” with an average target price of $361.00.
When put together, these pieces of information give a glimpse into Gartner’s stock performance and recent activities. However, investing in the stock market remains a course of action fraught with uncertainty and unpredictability.
