HB Wealth Management LLC Has $650,000 Position in Gartner, Inc. $IT

HB Wealth Management LLC reduced its stake in shares of Gartner, Inc. (NYSE:IT) by 6.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,608 shares of the information technology services provider’s stock after selling 114 shares during the quarter. HB Wealth Management LLC’s holdings in Gartner were worth $650,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Wealth Enhancement Advisory Services LLC boosted its position in Gartner by 22.2% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 34,964 shares of the information technology services provider’s stock worth $13,995,000 after acquiring an additional 6,352 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in Gartner by 10.2% in the 2nd 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 period. Pallas Capital Advisors LLC raised its stake in Gartner by 154.4% in the 2nd quarter. Pallas Capital Advisors LLC now owns 3,445 shares of the information technology services provider’s stock valued at $1,393,000 after acquiring an additional 2,091 shares during the period. Bright Rock Capital Management LLC bought a new position in Gartner during the 2nd quarter worth $1,859,000. Finally, Abacus FCF Advisors LLC increased its position in Gartner by 534.6% during the 2nd 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 period. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently issued reports on IT. Wells Fargo & Company reduced their target price on Gartner from $345.00 to $225.00 and set an “underweight” rating on the stock in a report on Wednesday, August 6th. Barclays dropped their target price on Gartner from $475.00 to $320.00 and set an “overweight” rating for the company in a research report on Wednesday, August 6th. The Goldman Sachs Group dropped their target price on Gartner from $535.00 to $457.00 and set a “buy” rating for the company in a research report on Wednesday, August 6th. Royal Bank Of Canada initiated coverage on Gartner in a research report on Tuesday, September 9th. They set a “sector perform” rating and a $263.00 price objective for the company. Finally, UBS Group reiterated a “neutral” rating and issued a $270.00 target price (down from $480.00) on shares of Gartner in a report on Wednesday, August 6th. Three investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $357.44.

Insider Transactions at Gartner

In other news, SVP John J. Rinello sold 105 shares of the company’s stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $249.71, for a total value of $26,219.55. Following the completion of 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jose M. Gutierrez bought 417 shares of the company’s stock in a transaction that occurred on Monday, August 18th. The shares were bought at an average price of $239.80 per share, with a total value of $99,996.60. Following the completion of the acquisition, the director directly owned 2,080 shares in the company, valued at $498,784. This trade represents a 25.08% increase in their ownership of the stock. The disclosure for this purchase can be found here. 2.30% of the stock is currently owned by corporate insiders.

Gartner Stock Performance

Shares of IT opened at $257.78 on Friday. The company has a debt-to-equity ratio of 1.61, a current ratio of 1.11 and a quick ratio of 1.11. Gartner, Inc. has a 1 year low of $223.65 and a 1 year high of $584.01. The firm has a market cap of $19.52 billion, a PE ratio of 15.86 and a beta of 1.20. The stock’s fifty day moving average price is $258.64 and its two-hundred day moving average price is $357.17.

Gartner (NYSE:IT) last posted its earnings results on Tuesday, August 5th. The information technology services provider reported $3.53 EPS for the quarter, topping the consensus estimate 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 analysts’ expectations of $1.68 billion. During the same period in the previous year, the business earned $3.22 earnings per share. The firm’s revenue was up 5.7% on a year-over-year basis. Gartner has set its FY 2025 guidance at 11.750- EPS. On average, equities research analysts forecast that Gartner, Inc. will post 12.5 EPS 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.