AustralianSuper Pty Ltd Buys New Position in Gartner, Inc. $IT

AustralianSuper Pty Ltd bought a new stake in Gartner, Inc. (NYSE:IT) during the second quarter, HoldingsChannel.com reports. The fund bought 54,354 shares of the information technology services provider’s stock, valued at approximately $21,971,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of IT. Ransom Advisory Ltd acquired a new stake in Gartner in the 1st quarter valued at approximately $29,000. Olde Wealth Management LLC acquired a new position in shares of Gartner during the 1st quarter worth approximately $42,000. Chilton Capital Management LLC acquired a new position in shares of Gartner during the 2nd quarter worth approximately $47,000. GW&K Investment Management LLC increased its position in shares of Gartner by 210.8% during the 1st quarter. GW&K Investment Management LLC now owns 115 shares of the information technology services provider’s stock worth $48,000 after purchasing an additional 78 shares during the last quarter. Finally, Wayfinding Financial LLC acquired a new position in shares of Gartner during the 1st quarter worth approximately $55,000. Institutional investors and hedge funds own 91.51% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Royal Bank Of Canada assumed coverage on Gartner in a research report on Tuesday, September 9th. They set a “sector perform” rating and a $263.00 price target on the stock. BMO Capital Markets lowered their price target on Gartner from $409.00 to $272.00 and set a “market perform” rating on the stock in a research report on Wednesday, August 6th. The Goldman Sachs Group lowered their price target on Gartner from $535.00 to $457.00 and set a “buy” rating on the stock in a research report on Wednesday, August 6th. Wells Fargo & Company lowered their price target on Gartner from $345.00 to $225.00 and set an “underweight” rating on the stock in a research report on Wednesday, August 6th. Finally, Barclays set a $270.00 target price on Gartner and gave the stock an “equal weight” rating in a research note on Wednesday, October 22nd. Four equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Gartner has an average rating of “Hold” and a consensus price target of $346.20.

Insider Buying and Selling at Gartner

In related news, SVP John J. Rinello sold 105 shares of the business’s stock in a transaction on Friday, August 22nd. The stock was 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 directly owned 3,225 shares in the company, valued at $805,314.75. The trade was a 3.15% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Jose M. Gutierrez purchased 417 shares of Gartner stock in a transaction that occurred on Monday, August 18th. The stock was purchased at an average price of $239.80 per share, with a total value of $99,996.60. Following the completion of the purchase, the director directly owned 2,080 shares in the company, valued at $498,784. This trade represents a 25.08% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 3.60% of the company’s stock.

Gartner Stock Performance

Shares of NYSE IT opened at $255.75 on Tuesday. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 1.61. Gartner, Inc. has a 12 month low of $223.65 and a 12 month high of $584.01. The stock has a 50 day moving average of $249.06 and a 200-day moving average of $338.54. The company has a market capitalization of $19.37 billion, a P/E ratio of 15.74 and a beta of 1.20.

Gartner (NYSE:IT) last released its quarterly earnings results on Tuesday, August 5th. The information technology services provider reported $3.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.38 by $0.15. The business had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.68 billion. Gartner had a return on equity of 82.63% and a net margin of 19.71%.The firm’s quarterly revenue was up 5.7% on a year-over-year basis. During the same period in the previous year, the company posted $3.22 EPS. Gartner has set its FY 2025 guidance at 11.750- EPS. As a group, equities research analysts predict that Gartner, Inc. will post 12.5 EPS for the current 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.