Corebridge Financial Inc. Lowers Position in Gartner, Inc. (NYSE:IT)

Corebridge Financial Inc. reduced its position in shares of Gartner, Inc. (NYSE:IT) by 0.5% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 21,702 shares of the information technology services provider’s stock after selling 105 shares during the period. Corebridge Financial Inc.’s holdings in Gartner were worth $10,514,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Kestra Investment Management LLC acquired a new position in shares of Gartner during the 4th quarter worth $29,000. SBI Securities Co. Ltd. acquired a new position in Gartner during the fourth quarter worth about $49,000. True Wealth Design LLC increased its holdings in Gartner by 2,350.0% in the third quarter. True Wealth Design LLC now owns 98 shares of the information technology services provider’s stock valued at $50,000 after buying an additional 94 shares in the last quarter. Promus Capital LLC purchased a new position in Gartner in the fourth quarter valued at about $57,000. Finally, Global Retirement Partners LLC lifted its position in shares of Gartner by 14.0% during the 4th quarter. Global Retirement Partners LLC now owns 276 shares of the information technology services provider’s stock valued at $134,000 after acquiring an additional 34 shares during the period. Institutional investors and hedge funds own 91.51% of the company’s stock.

Gartner Price Performance

Gartner stock opened at $426.43 on Thursday. The firm’s 50-day moving average is $497.88 and its two-hundred day moving average is $506.61. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.06 and a quick ratio of 1.06. The stock has a market capitalization of $32.76 billion, a P/E ratio of 26.60, a P/E/G ratio of 3.30 and a beta of 1.29. Gartner, Inc. has a 12-month low of $409.50 and a 12-month high of $584.01.

Gartner (NYSE:IT) last released its earnings results on Tuesday, February 4th. The information technology services provider reported $5.45 EPS for the quarter, topping the consensus estimate of $3.22 by $2.23. Gartner had a net margin of 20.00% and a return on equity of 116.56%. The firm had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.69 billion. During the same period in the previous year, the company earned $3.04 EPS. Gartner’s revenue for the quarter was up 8.1% on a year-over-year basis. Equities analysts predict that Gartner, Inc. will post 12.5 earnings per share for the current year.

Insider Activity at Gartner

In other Gartner news, SVP John J. Rinello sold 90 shares of Gartner stock in a transaction on Monday, February 10th. The shares were sold at an average price of $530.51, for a total value of $47,745.90. Following the transaction, the senior vice president now owns 3,259 shares in the company, valued at $1,728,932.09. This trade represents a 2.69 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Eileen Serra sold 1,200 shares of the business’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $489.77, for a total value of $587,724.00. Following the sale, the director now directly owns 1,627 shares of the company’s stock, valued at approximately $796,855.79. This trade represents a 42.45 % decrease in their position. The disclosure for this sale can be found here. Insiders own 3.60% of the company’s stock.

Analysts Set New Price Targets

IT has been the subject of several research analyst reports. UBS Group dropped their price objective on Gartner from $565.00 to $500.00 and set a “buy” rating for the company in a research note on Tuesday. The Goldman Sachs Group restated a “buy” rating on shares of Gartner in a research report on Tuesday, February 4th. StockNews.com lowered shares of Gartner from a “buy” rating to a “hold” rating in a research report on Friday, March 21st. Wells Fargo & Company dropped their target price on shares of Gartner from $470.00 to $460.00 and set an “underweight” rating for the company in a report on Friday, January 10th. Finally, Barclays raised shares of Gartner from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $525.00 to $600.00 in a report on Friday, January 10th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Gartner presently has an average rating of “Hold” and a consensus target price of $536.63.

Gartner Company Profile

Gartner, Inc operates as a research and advisory company in the United States, Canada, Europe, the Middle East, Africa, and internationally. It operates through three segments: Research, Conferences, and Consulting. The Research segment delivers its research primarily through a subscription service that include on-demand access to published research content, data and benchmarks, and direct access to a network of research experts.