Gartner, Inc. $IT Shares Bought by Phoenix Financial Ltd.

Phoenix Financial Ltd. raised its holdings in Gartner, Inc. (NYSE:IT) by 5.4% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 806 shares of the information technology services provider’s stock after purchasing an additional 41 shares during the quarter. Phoenix Financial Ltd.’s holdings in Gartner were worth $326,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Ransom Advisory Ltd acquired a new position in Gartner in the first quarter valued at $29,000. Olde Wealth Management LLC acquired a new position in Gartner in the first quarter valued at $42,000. GW&K Investment Management LLC increased its stake in Gartner by 210.8% in the first quarter. GW&K Investment Management LLC now owns 115 shares of the information technology services provider’s stock valued at $48,000 after purchasing an additional 78 shares during the period. Wayfinding Financial LLC acquired a new position in Gartner in the first quarter valued at $55,000. Finally, Bayforest Capital Ltd increased its stake in Gartner by 527.3% in the first quarter. Bayforest Capital Ltd now owns 138 shares of the information technology services provider’s stock valued at $58,000 after purchasing an additional 116 shares during the period. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Gartner news, SVP John J. Rinello sold 105 shares of the company’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 transaction, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Jose M. Gutierrez bought 417 shares of the stock in a transaction on Monday, August 18th. The shares were bought at an average price of $239.80 per share, for a total transaction of $99,996.60. Following the completion of the transaction, the director directly owned 2,080 shares of the company’s stock, valued at $498,784. This trade represents a 25.08% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 2.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on IT. Wells Fargo & Company dropped their price target on shares of Gartner from $345.00 to $225.00 and set an “underweight” rating on the stock in a research note on Wednesday, August 6th. Wolfe Research began coverage on shares of Gartner in a research note on Wednesday, September 3rd. They set a “peer perform” rating on the stock. William Blair reiterated an “outperform” rating on shares of Gartner in a research note on Tuesday. BMO Capital Markets dropped their price target on shares of Gartner from $409.00 to $272.00 and set a “market perform” rating on the stock in a research note on Wednesday, August 6th. Finally, Morgan Stanley set a $307.00 price target on shares of Gartner in a research note on Monday, October 13th. Four analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Gartner presently has a consensus rating of “Hold” and an average target price of $346.20.

Gartner Trading Down 2.7%

Shares of IT opened at $251.21 on Thursday. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 1.61. The firm’s 50-day moving average is $248.34 and its two-hundred day moving average is $342.06. Gartner, Inc. has a twelve month low of $223.65 and a twelve month high of $584.01. The firm has a market capitalization of $19.03 billion, a P/E ratio of 15.46 and a beta of 1.20.

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