Principal Financial Group Inc. Lowers Stake in Gartner, Inc. $IT

Principal Financial Group Inc. reduced its stake in shares of Gartner, Inc. (NYSE:IT) by 93.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 99,558 shares of the information technology services provider’s stock after selling 1,524,475 shares during the period. Principal Financial Group Inc. owned approximately 0.13% of Gartner worth $26,171,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. Aviva PLC increased its holdings in shares of Gartner by 6.1% during the 2nd quarter. Aviva PLC now owns 58,559 shares of the information technology services provider’s stock worth $23,671,000 after acquiring an additional 3,390 shares during the last quarter. Buttonwood Financial Advisors Inc. acquired a new stake in Gartner during the 3rd quarter worth approximately $1,581,000. Highland Capital Management LLC bought a new stake in shares of Gartner in the 3rd quarter valued at about $1,502,000. Resona Asset Management Co. Ltd. increased its position in Gartner by 51.0% during the 3rd quarter. Resona Asset Management Co. Ltd. now owns 248,028 shares of the information technology services provider’s stock valued at $65,068,000 after purchasing an additional 83,789 shares during the period. Finally, Laurus Global Equity Management Inc. bought a new stake in Gartner in the 3rd quarter valued at about $3,833,000. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on IT shares. Royal Bank Of Canada set a $175.00 price objective on Gartner in a report on Wednesday. Morgan Stanley dropped their target price on shares of Gartner from $275.00 to $200.00 and set an “equal weight” rating on the stock in a report on Wednesday. Wells Fargo & Company dropped their price target on shares of Gartner from $218.00 to $150.00 and set an “underweight” rating on the stock in a research note on Wednesday. Barclays cut their price objective on Gartner from $260.00 to $180.00 and set an “equal weight” rating for the company in a research report on Thursday. Finally, Truist Financial reduced their target price on shares of Gartner from $300.00 to $170.00 and set a “buy” rating on the stock in a report on Friday. Four research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $190.70.

Insider Transactions at Gartner

In other news, SVP John J. Rinello sold 220 shares of the company’s 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 completion of the transaction, the senior vice president directly owned 3,046 shares of the company’s stock, valued at $699,270.22. This represents a 6.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Claire Herkes sold 367 shares of the firm’s stock in a transaction dated Wednesday, December 3rd. The shares were sold at an average price of $231.56, for a total value of $84,982.52. Following the completion of the transaction, the executive vice president owned 4,074 shares of the company’s stock, valued at $943,375.44. The trade was a 8.26% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 2.30% of the company’s stock.

Gartner Stock Performance

Shares of IT stock opened at $156.29 on Friday. The company has a debt-to-equity ratio of 4.42, a quick ratio of 0.88 and a current ratio of 0.88. The stock has a market capitalization of $11.27 billion, a price-to-earnings ratio of 16.20 and a beta of 1.06. Gartner, Inc. has a one year low of $139.18 and a one year high of $535.94. The company’s 50-day simple moving average is $231.12 and its 200-day simple moving average is $246.30.

Gartner (NYSE:IT) last issued its quarterly earnings results on Tuesday, February 3rd. The information technology services provider reported $3.94 EPS for the quarter, beating analysts’ consensus estimates of $3.50 by $0.44. The company had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.75 billion. Gartner had a return on equity of 83.48% and a net margin of 11.22%.The company’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same period last year, the company earned $5.45 earnings per share. Gartner has set its FY 2026 guidance at 12.300- EPS. Equities analysts anticipate that Gartner, Inc. will post 12.5 earnings per share for the current fiscal 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.