Interchange Capital Partners LLC Makes New Investment in Gartner, Inc. $IT

Interchange Capital Partners LLC purchased a new position in shares of Gartner, Inc. (NYSE:IT) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 496 shares of the information technology services provider’s stock, valued at approximately $200,000.

Other institutional investors also recently added to or reduced their stakes in the company. Brighton Jones LLC acquired a new stake in shares of Gartner in the fourth quarter valued at $309,000. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Gartner by 1.2% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 28,612 shares of the information technology services provider’s stock valued at $12,009,000 after buying an additional 352 shares during the period. Exchange Traded Concepts LLC lifted its holdings in shares of Gartner by 482.3% in the first quarter. Exchange Traded Concepts LLC now owns 8,455 shares of the information technology services provider’s stock valued at $3,549,000 after buying an additional 7,003 shares during the period. Sowell Financial Services LLC acquired a new stake in shares of Gartner in the first quarter valued at $774,000. Finally, Sagespring Wealth Partners LLC lifted its holdings in shares of Gartner by 14.9% in the first quarter. Sagespring Wealth Partners LLC now owns 670 shares of the information technology services provider’s stock valued at $281,000 after buying an additional 87 shares during the period. Institutional investors and hedge funds own 91.51% of the company’s stock.

Wall Street Analysts Forecast Growth

IT has been the subject of several research analyst reports. Weiss Ratings restated a “hold (c-)” rating on shares of Gartner in a report on Wednesday, October 8th. UBS Group upped their price objective on Gartner from $270.00 to $280.00 and gave the company a “neutral” rating in a report on Monday, October 6th. Wolfe Research assumed coverage on Gartner in a research report on Wednesday, September 3rd. They set a “peer perform” rating on the stock. BMO Capital Markets cut their target price 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. Finally, Barclays cut their target price on Gartner from $475.00 to $320.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 6th. Three analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $356.89.

Insider Buying and Selling at Gartner

In other Gartner news, Director Jose M. Gutierrez purchased 417 shares of the company’s stock in a transaction that occurred on Monday, August 18th. The shares were purchased at an average cost of $239.80 per share, with a total value of $99,996.60. Following the completion of the transaction, 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. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP John J. Rinello sold 105 shares of the company’s stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $249.71, for a total value of $26,219.55. Following the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. 3.60% of the stock is currently owned by insiders.

Gartner Stock Up 0.6%

Shares of Gartner stock opened at $246.88 on Wednesday. The stock’s fifty day moving average is $247.19 and its 200-day moving average is $348.51. The firm has a market capitalization of $18.70 billion, a PE ratio of 15.19 and a beta of 1.20. The company has a quick ratio of 1.11, a current 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.

Gartner (NYSE:IT) last posted its quarterly earnings results on Tuesday, August 5th. The information technology services provider reported $3.53 earnings per share for the quarter, beating the consensus estimate 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 return on equity of 82.63% and a net margin of 19.71%.Gartner’s quarterly revenue was up 5.7% on a year-over-year basis. During the same period in the previous year, the firm earned $3.22 earnings per share. Gartner has set its FY 2025 guidance at 11.750- EPS. Equities analysts anticipate that Gartner, Inc. will post 12.5 earnings per share 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.