Vinva Investment Management Ltd has increased its stake in Gartner, Inc. (NYSE: IT) by 20.1% during the second quarter, according to the firm’s latest 13F filing with the U.S. Securities and Exchange Commission. The investment management company now holds 5,100 shares of the information technology services provider, valued at approximately $2.05 million.
The increase in holdings comes as several other institutional investors have also adjusted their positions in Gartner. Sequoia Financial Advisors LLC raised its stake by 1.8% during the same quarter, acquiring an additional 31 shares to reach a total of 1,725 shares, worth about $697,000. Likewise, Verdence Capital Advisors LLC boosted its holdings by 2.6%, now owning 1,333 shares valued at $539,000 after adding 34 shares.
Other notable changes include Accurate Wealth Management LLC, which raised its stake by 2.8% to hold 1,308 shares worth $507,000, and EP Wealth Advisors LLC, which increased its position by 5.0%, owning 800 shares valued at $336,000. Cary Street Partners Investment Advisory LLC also enhanced its position by 7.9%, now holding 535 shares valued at $225,000. Collectively, institutional investors and hedge funds now own approximately 91.51% of Gartner’s stock.
Gartner’s Stock Performance and Analyst Ratings
As of the latest trading session, Gartner shares opened at $232.18. The company’s financial indicators include a debt-to-equity ratio of 1.61, a quick ratio of 1.11, and a current ratio of 1.11. Gartner’s stock has fluctuated significantly over the past year, reaching a fifty-two week low of $222.54 and a high of $584.01. The company’s market capitalization stands at $16.73 billion, with a price-to-earnings ratio of 14.29 and a beta of 1.19. Additionally, the stock’s fifty-day moving average is $243.00, while the 200-day moving average is $308.74.
Analysts have recently shared varied perspectives on Gartner’s stock. William Blair reiterated an “outperform” rating on October 21, 2023. Conversely, Wells Fargo & Company lowered its target price from $231.00 to $218.00, assigning an “underweight” rating. UBS Group set a target price of $256.00 and a “neutral” rating, while Truist Financial and Morgan Stanley established price targets of $300.00 and $307.00, respectively.
Currently, four analysts rate the stock as a Buy, six recommend holding, and two suggest selling. Data from MarketBeat.com provides a consensus rating of “Hold” with an average price target of $311.67.
About Gartner, Inc.
Gartner, Inc. operates as a research and advisory company with a global presence, including operations in the United States, Canada, Europe, the Middle East, and Africa. The company is structured into three main segments: Research, Conferences, and Consulting. Its Research segment primarily delivers insights through a subscription service, offering clients on-demand access to published research content, data, benchmarks, and direct communication with research experts.
As institutional interest in Gartner continues to grow, the company’s performance and strategic direction will be closely monitored by financial analysts and investors alike.
