Metis Global Partners LLC Lowers Stock Holdings in Gartner, Inc. $IT

Metis Global Partners LLC lessened its stake in Gartner, Inc. (NYSE:IT) by 7.5% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,608 shares of the information technology services provider’s stock after selling 294 shares during the period. Metis Global Partners LLC’s holdings in Gartner were worth $1,458,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Wealth Enhancement Advisory Services LLC lifted its holdings in Gartner by 22.2% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 34,964 shares of the information technology services provider’s stock valued at $13,995,000 after acquiring an additional 6,352 shares during the period. State of Michigan Retirement System grew its stake in shares of Gartner by 10.1% during the 2nd quarter. State of Michigan Retirement System now owns 22,947 shares of the information technology services provider’s stock worth $9,276,000 after purchasing an additional 2,100 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in shares of Gartner by 10.2% in the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 12,433 shares of the information technology services provider’s stock valued at $5,026,000 after purchasing an additional 1,150 shares in the last quarter. Pallas Capital Advisors LLC lifted its stake in shares of Gartner by 154.4% in the second quarter. Pallas Capital Advisors LLC now owns 3,445 shares of the information technology services provider’s stock valued at $1,393,000 after purchasing an additional 2,091 shares during the period. Finally, Abacus FCF Advisors LLC boosted its holdings in Gartner by 534.6% during the second quarter. Abacus FCF Advisors LLC now owns 36,889 shares of the information technology services provider’s stock worth $14,911,000 after buying an additional 31,076 shares in the last quarter. 91.51% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Gartner

In other Gartner news, SVP John J. Rinello sold 105 shares of the firm’s stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $249.71, for a total transaction of $26,219.55. Following the sale, the senior vice president directly owned 3,225 shares of the company’s stock, valued at $805,314.75. This trade represents a 3.15% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jose M. Gutierrez purchased 417 shares of the stock in a transaction dated Monday, August 18th. The shares were purchased at an average price of $239.80 per share, with a total value of $99,996.60. Following the completion of the acquisition, the director owned 2,080 shares of the company’s stock, valued at approximately $498,784. This represents a 25.08% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 2.30% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Wells Fargo & Company dropped their target price on shares of Gartner from $231.00 to $218.00 and set an “underweight” rating for the company in a report on Wednesday, November 5th. Truist Financial initiated coverage on Gartner in a research note on Thursday, October 16th. They issued a “buy” rating and a $300.00 price objective for the company. Barclays reduced their price objective on Gartner from $270.00 to $260.00 and set an “equal weight” rating for the company in a report on Wednesday, November 5th. William Blair reissued an “outperform” rating on shares of Gartner in a report on Tuesday, October 21st. Finally, BMO Capital Markets cut their price target on Gartner from $272.00 to $254.00 and set a “market perform” rating for the company in a research note on Wednesday, November 5th. Four research analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $311.67.

Gartner Price Performance

Shares of NYSE:IT opened at $228.64 on Tuesday. The company has a debt-to-equity ratio of 1.61, a quick ratio of 1.11 and a current ratio of 1.11. The business’s fifty day moving average price is $247.73 and its two-hundred day moving average price is $326.59. The stock has a market cap of $17.32 billion, a PE ratio of 14.07 and a beta of 1.19. Gartner, Inc. has a one year low of $222.54 and a one year high of $584.01.

Gartner (NYSE:IT) last released its quarterly earnings results on Tuesday, November 4th. The information technology services provider reported $2.76 earnings per share for the quarter, topping analysts’ consensus estimates of $2.41 by $0.35. The company had revenue of $1.52 billion during the quarter, compared to analysts’ expectations of $1.52 billion. Gartner had a return on equity of 82.63% and a net margin of 19.71%. Gartner has set its FY 2025 guidance at 12.650- EPS. On average, analysts forecast that Gartner, Inc. will post 12.5 EPS for the current fiscal year.

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.