Bank of Nova Scotia Has $33.04 Million Stock Holdings in Gartner, Inc. $IT

Bank of Nova Scotia increased its holdings in shares of Gartner, Inc. (NYSE:IT) by 34.6% during the 2nd quarter, Holdings Channel.com reports. The fund owned 81,747 shares of the information technology services provider’s stock after acquiring an additional 20,998 shares during the period. Bank of Nova Scotia’s holdings in Gartner were worth $33,044,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in IT. Norges Bank acquired a new stake in Gartner during the second quarter valued at approximately $394,133,000. T. Rowe Price Investment Management Inc. boosted its stake in Gartner by 692.2% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 1,066,732 shares of the information technology services provider’s stock valued at $447,751,000 after buying an additional 932,077 shares in the last quarter. Sustainable Growth Advisers LP grew its position in Gartner by 71.7% in the second quarter. Sustainable Growth Advisers LP now owns 1,161,513 shares of the information technology services provider’s stock valued at $469,507,000 after acquiring an additional 485,188 shares during the period. Nuveen LLC acquired a new position in Gartner during the first quarter worth $128,318,000. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Gartner by 20.5% during the first quarter. JPMorgan Chase & Co. now owns 1,245,563 shares of the information technology services provider’s stock valued at $522,813,000 after acquiring an additional 211,842 shares during the period. Institutional investors and hedge funds own 91.51% of the company’s stock.

Gartner Price Performance

Shares of IT opened at $226.93 on Tuesday. The stock has a market cap of $16.36 billion, a P/E ratio of 19.91 and a beta of 1.08. Gartner, Inc. has a 1 year low of $222.54 and a 1 year high of $584.01. The stock’s 50-day moving average price is $239.22 and its two-hundred day moving average price is $297.64. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 4.42.

Gartner (NYSE:IT) last announced its quarterly earnings results on Tuesday, November 4th. The information technology services provider reported $2.76 earnings per share for the quarter, beating analysts’ consensus estimates of $2.41 by $0.35. Gartner had a net margin of 13.71% and a return on equity of 92.12%. The business had revenue of $1.52 billion for the quarter, compared to the consensus estimate of $1.52 billion. Gartner has set its FY 2025 guidance at 12.650- EPS. On average, equities analysts predict that Gartner, Inc. will post 12.5 earnings per share for the current year.

Insiders Place Their Bets

In other Gartner news, SVP John J. Rinello sold 220 shares of Gartner stock in a transaction dated Wednesday, December 3rd. The stock was sold at an average price of $229.57, for a total transaction of $50,505.40. Following the transaction, the senior vice president directly owned 3,046 shares in the company, valued at approximately $699,270.22. The trade was a 6.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Claire Herkes sold 367 shares of the stock in a transaction dated Wednesday, December 3rd. The stock was sold at an average price of $231.56, for a total value of $84,982.52. Following the completion of the sale, the executive vice president owned 4,074 shares of the company’s stock, valued at $943,375.44. This trade represents a 8.26% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 3.60% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on IT. Morgan Stanley set a $307.00 target price on shares of Gartner in a report on Monday, October 13th. UBS Group set a $256.00 price objective on shares of Gartner and gave the stock a “neutral” rating in a report on Tuesday, November 25th. Barclays decreased their price target on Gartner from $270.00 to $260.00 and set an “equal weight” rating on the stock in a research report on Wednesday, November 5th. Weiss Ratings downgraded Gartner from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Saturday, October 25th. Finally, Royal Bank Of Canada initiated coverage on Gartner in a report on Tuesday, September 9th. They issued a “sector perform” rating and a $263.00 price target on the stock. Four analysts have rated the stock with a Buy rating, six have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $311.67.

About Gartner

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.