Sumitomo Mitsui Trust Group Inc. Has $82.53 Million Stock Position in Gartner, Inc. $IT

Sumitomo Mitsui Trust Group Inc. increased its position in Gartner, Inc. (NYSE:IT) by 11.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 204,179 shares of the information technology services provider’s stock after purchasing an additional 20,547 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 0.27% of Gartner worth $82,533,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC boosted its holdings in 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. Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings 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 worth $5,026,000 after buying an additional 1,150 shares during the last quarter. Pallas Capital Advisors LLC boosted its holdings in Gartner by 154.4% during the second quarter. Pallas Capital Advisors LLC now owns 3,445 shares of the information technology services provider’s stock worth $1,393,000 after buying an additional 2,091 shares during the last quarter. Bright Rock Capital Management LLC bought a new position in Gartner during the second quarter worth about $1,859,000. 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 during the last quarter. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Jose M. Gutierrez bought 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, with a total value of $99,996.60. Following the transaction, the director owned 2,080 shares in the company, valued at $498,784. This represents a 25.08% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP John J. Rinello sold 105 shares of Gartner stock in a transaction that occurred 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 completion of 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 disclosure for this sale can be found here. 3.60% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Wolfe Research assumed coverage on Gartner in a report on Wednesday, September 3rd. They set a “peer perform” rating on the stock. Morgan Stanley set a $307.00 target price on Gartner in a report on Monday, October 13th. Truist Financial initiated coverage on Gartner in a report on Thursday, October 16th. They set a “buy” rating and a $300.00 target price on the stock. The Goldman Sachs Group cut their price objective on Gartner from $535.00 to $457.00 and set a “buy” rating on the stock in a report on Wednesday, August 6th. Finally, BMO Capital Markets cut their price objective on Gartner from $409.00 to $272.00 and set a “market perform” rating on the stock in a report on Wednesday, August 6th. Four analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Gartner currently has a consensus rating of “Hold” and an average price target of $346.20.

Gartner Trading Down 0.2%

NYSE:IT opened at $250.40 on Monday. Gartner, Inc. has a fifty-two week low of $223.65 and a fifty-two week high of $584.01. The company has a debt-to-equity ratio of 1.61, a current ratio of 1.11 and a quick ratio of 1.11. The stock has a market capitalization of $18.97 billion, a PE ratio of 15.41 and a beta of 1.20. The business’s 50-day simple moving average is $248.73 and its 200-day simple moving average is $339.59.

Gartner (NYSE:IT) last announced its earnings results on Tuesday, August 5th. The information technology services provider reported $3.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.38 by $0.15. Gartner had a return on equity of 82.63% and a net margin of 19.71%.The business had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.68 billion. During the same quarter last year, the firm earned $3.22 EPS. Gartner’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. Sell-side analysts expect 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.