Gartner, Inc. $IT Shares Bought by Mutual Advisors LLC

Mutual Advisors LLC raised its stake in Gartner, Inc. (NYSE:IT) by 96.2% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,179 shares of the information technology services provider’s stock after purchasing an additional 578 shares during the quarter. Mutual Advisors LLC’s holdings in Gartner were worth $477,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in shares of Gartner by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 9,433,449 shares of the information technology services provider’s stock valued at $3,959,596,000 after purchasing an additional 164,810 shares during the last quarter. Generation Investment Management LLP lifted its holdings in shares of Gartner by 16.5% during the 1st quarter. Generation Investment Management LLP now owns 1,341,342 shares of the information technology services provider’s stock valued at $563,015,000 after acquiring an additional 189,514 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Gartner by 20.5% during the 1st 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 in the last quarter. T. Rowe Price Investment Management Inc. lifted its holdings in shares of Gartner by 692.2% during 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 acquiring an additional 932,077 shares in the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of Gartner by 11.0% during the 1st quarter. Northern Trust Corp now owns 1,006,655 shares of the information technology services provider’s stock valued at $422,533,000 after acquiring an additional 99,822 shares in the last quarter. Institutional investors and hedge funds own 91.51% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on IT shares. BMO Capital Markets reduced their target price on shares of Gartner from $409.00 to $272.00 and set a “market perform” rating on the stock in a report on Wednesday, August 6th. The Goldman Sachs Group reduced their target price on shares of Gartner from $535.00 to $457.00 and set a “buy” rating on the stock in a report on Wednesday, August 6th. Morgan Stanley set a $307.00 target price on shares of Gartner in a report on Monday, October 13th. Royal Bank Of Canada assumed coverage on shares of Gartner in a report on Tuesday, September 9th. They set a “sector perform” rating and a $263.00 target price on the stock. Finally, Barclays cut their price objective on shares of Gartner from $475.00 to $320.00 and set an “overweight” rating on the stock in a report on Wednesday, August 6th. Four analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Gartner presently has a consensus rating of “Hold” and a consensus target price of $351.20.

Insider Activity

In other news, SVP John J. Rinello sold 105 shares of the business’s stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $249.71, for a total value of $26,219.55. Following the completion of the sale, the senior vice president owned 3,225 shares of the company’s stock, valued at approximately $805,314.75. The trade was a 3.15% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jose M. Gutierrez bought 417 shares of the company’s stock in a transaction dated Monday, August 18th. The stock was bought at an average cost of $239.80 per share, with a total value of $99,996.60. Following the transaction, the director directly owned 2,080 shares in the company, valued at approximately $498,784. The trade was a 25.08% increase in their position. The disclosure for this purchase can be found here. 3.60% of the stock is currently owned by insiders.

Gartner Stock Performance

Shares of IT stock opened at $235.63 on Monday. Gartner, Inc. has a 12 month low of $223.65 and a 12 month high of $584.01. The company has a debt-to-equity ratio of 1.61, a current ratio of 1.11 and a quick ratio of 1.11. The firm has a market capitalization of $17.85 billion, a P/E ratio of 14.50 and a beta of 1.20. The company’s fifty day moving average price is $247.30 and its two-hundred day moving average price is $344.28.

Gartner (NYSE:IT) last issued its quarterly earnings data on Tuesday, August 5th. The information technology services provider reported $3.53 EPS for the quarter, topping analysts’ consensus estimates of $3.38 by $0.15. The firm had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.68 billion. Gartner had a net margin of 19.71% and a return on equity of 82.63%. The firm’s revenue was up 5.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.22 EPS. Gartner has set its FY 2025 guidance at 11.750- EPS. On average, research analysts anticipate that Gartner, Inc. will post 12.5 earnings per share for the current fiscal year.

Gartner 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.