Parallel Advisors LLC Has $264,000 Stock Position in Gartner, Inc. $IT

Parallel Advisors LLC reduced its holdings in Gartner, Inc. (NYSE:IT) by 16.4% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 654 shares of the information technology services provider’s stock after selling 128 shares during the quarter. Parallel Advisors LLC’s holdings in Gartner were worth $264,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Ransom Advisory Ltd bought a new stake in shares of Gartner during the first quarter valued at approximately $29,000. Olde Wealth Management LLC purchased a new position in shares of Gartner during the first quarter valued at approximately $42,000. GW&K Investment Management LLC boosted its position in shares of Gartner by 210.8% during 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 buying an additional 78 shares during the last quarter. Wayfinding Financial LLC purchased a new position in shares of Gartner during the first quarter valued at approximately $55,000. Finally, Bayforest Capital Ltd boosted its position in Gartner by 527.3% in the first quarter. Bayforest Capital Ltd now owns 138 shares of the information technology services provider’s stock worth $58,000 after purchasing an additional 116 shares during the last quarter. Institutional investors own 91.51% of the company’s stock.

Analyst Ratings Changes

IT has been the topic of a number of analyst reports. Wolfe Research initiated coverage on Gartner in a research note on Wednesday, September 3rd. They set a “peer perform” rating on the stock. The Goldman Sachs Group reduced their price objective on Gartner from $535.00 to $457.00 and set a “buy” rating for the company in a research report on Wednesday, August 6th. Morgan Stanley reduced their target price on Gartner from $455.00 to $322.00 and set an “equal weight” rating for the company in a report on Wednesday, August 6th. UBS Group reaffirmed a “neutral” rating and issued a $270.00 price objective (down previously from $480.00) on shares of Gartner in a report on Wednesday, August 6th. Finally, Wells Fargo & Company lowered their target price on Gartner from $345.00 to $225.00 and set an “underweight” rating on the stock in a research report on Wednesday, August 6th. Three analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $357.44.

Insider Activity at Gartner

In other news, SVP John J. Rinello sold 105 shares of the company’s stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $249.71, for a total transaction of $26,219.55. Following the sale, the senior vice president owned 3,225 shares of the company’s stock, valued at approximately $805,314.75. This represents a 3.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jose M. Gutierrez bought 417 shares of the stock in a transaction that occurred on Monday, August 18th. The shares were purchased at an average price of $239.80 per share, with a total value of $99,996.60. Following the purchase, the director owned 2,080 shares of the company’s stock, valued at approximately $498,784. This represents a 25.08% increase in their position. The disclosure for this purchase can be found here. Insiders own 3.60% of the company’s stock.

Gartner Price Performance

NYSE IT opened at $256.55 on Monday. 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’s fifty day moving average price is $278.51 and its 200 day moving average price is $370.48. Gartner, Inc. has a 1 year low of $223.65 and a 1 year high of $584.01. The company has a market cap of $19.43 billion, a price-to-earnings ratio of 15.79 and a beta of 1.20.

Gartner (NYSE:IT) last released its quarterly earnings data 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 return on equity of 82.63% and a net margin of 19.71%.The business had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.68 billion. During the same quarter last year, the business posted $3.22 EPS. The company’s revenue was up 5.7% on a year-over-year basis. Gartner has set its FY 2025 guidance at 11.750- EPS. As a group, equities research analysts forecast that Gartner, Inc. will post 12.5 earnings per share for the current year.

About Gartner

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.