Bright Rock Capital Management LLC Acquires New Position in Gartner, Inc. $IT

Bright Rock Capital Management LLC acquired a new stake in Gartner, Inc. (NYSE:IT) during the second quarter, Holdings Channel.com reports. The fund acquired 4,600 shares of the information technology services provider’s stock, valued at approximately $1,859,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Wealth Enhancement Advisory Services LLC grew its stake in shares of Gartner by 22.2% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 34,964 shares of the information technology services provider’s stock worth $13,995,000 after buying an additional 6,352 shares during the last quarter. Mn Services Vermogensbeheer B.V. grew its stake in shares of Gartner by 1.4% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 28,600 shares of the information technology services provider’s stock worth $11,561,000 after purchasing an additional 400 shares during the last quarter. Swedbank AB boosted its position in Gartner by 10.8% during the second quarter. Swedbank AB now owns 62,926 shares of the information technology services provider’s stock valued at $25,436,000 after acquiring an additional 6,151 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in Gartner by 10.2% during the second 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 acquiring an additional 1,150 shares during the last quarter. Finally, Sivia Capital Partners LLC bought a new stake in Gartner during the second quarter valued at $336,000. Institutional investors own 91.51% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on IT. UBS Group reiterated a “neutral” rating and set a $270.00 price objective (down previously from $480.00) on shares of Gartner in a report on Wednesday, August 6th. BMO Capital Markets dropped their price objective 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. Wolfe Research initiated coverage on shares of Gartner in a report on Wednesday, September 3rd. They set a “peer perform” rating on the stock. The Goldman Sachs Group lowered 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. Finally, Barclays lowered their target price 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. Three analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $357.44.

Gartner Trading Up 1.3%

Shares of IT stock opened at $254.05 on Thursday. Gartner, Inc. has a 52-week low of $223.65 and a 52-week high of $584.01. The company has a 50-day simple moving average of $283.55 and a two-hundred day simple moving average of $375.28. The company has a market capitalization of $19.24 billion, a price-to-earnings ratio of 15.63 and a beta of 1.20. The company has a debt-to-equity ratio of 1.61, a quick ratio of 1.11 and a current ratio of 1.11.

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

Insider Buying and Selling

In related news, SVP John J. Rinello sold 105 shares of the company’s stock in a transaction that occurred on 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 in the company, valued at approximately $805,314.75. This represents a 3.15% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Jose M. Gutierrez purchased 417 shares of the company’s stock in a transaction that occurred on Monday, August 18th. The shares were acquired at an average price of $239.80 per share, for a total transaction 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 represents a 25.08% increase in their position. The disclosure for this purchase can be found here. 2.30% of the stock is owned by corporate insiders.

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.