Assetmark Inc. Lowers Stock Holdings in Gartner, Inc. $IT

Assetmark Inc. decreased its position in Gartner, Inc. (NYSE:IT) by 80.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 540 shares of the information technology services provider’s stock after selling 2,186 shares during the period. Assetmark Inc.’s holdings in Gartner were worth $218,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. Ransom Advisory Ltd acquired a new stake in Gartner during the 1st quarter valued at $29,000. Chilton Capital Management LLC purchased a new stake in shares of Gartner during the second quarter valued at approximately $47,000. GW&K Investment Management LLC boosted its holdings 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 last quarter. Bayforest Capital Ltd lifted its position in shares of Gartner by 527.3% during 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. Finally, WPG Advisers LLC bought a new position in shares of Gartner in the 1st quarter worth about $69,000. Institutional investors and hedge funds own 91.51% of the company’s stock.

Insider Activity at Gartner

In other news, Director Jose M. Gutierrez acquired 417 shares of Gartner stock in a transaction dated Monday, August 18th. The stock was bought at an average price of $239.80 per share, for a total transaction of $99,996.60. Following the completion of the acquisition, the director directly owned 2,080 shares in the company, valued at approximately $498,784. The trade was a 25.08% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP John J. Rinello sold 105 shares of the business’s 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 owned 3,225 shares of the company’s stock, valued at approximately $805,314.75. This trade represents a 3.15% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 2.30% of the company’s stock.

Gartner Trading Up 1.8%

Shares of NYSE:IT opened at $230.44 on Friday. The firm has a market cap of $17.45 billion, a price-to-earnings ratio of 14.18 and a beta of 1.19. Gartner, Inc. has a 12 month low of $222.54 and a 12 month high of $584.01. The company’s fifty day simple moving average is $248.17 and its 200 day simple moving average is $328.48. 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 (NYSE:IT) last issued its quarterly earnings results on Tuesday, November 4th. The information technology services provider reported $2.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.41 by $0.35. Gartner had a net margin of 19.71% and a return on equity of 82.63%. The firm had revenue of $1.52 billion for the quarter, compared to analyst estimates of $1.52 billion. Gartner has set its FY 2025 guidance at 12.650- EPS. As a group, research analysts forecast that Gartner, Inc. will post 12.5 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently commented on IT shares. Morgan Stanley set a $307.00 target price on Gartner in a research report on Monday, October 13th. William Blair reissued an “outperform” rating on shares of Gartner in a research report on Tuesday, October 21st. Royal Bank Of Canada began coverage on Gartner in a report on Tuesday, September 9th. They issued a “sector perform” rating and a $263.00 target price on the stock. Truist Financial started coverage on shares of Gartner in a research note on Thursday, October 16th. They set a “buy” rating and a $300.00 price target on the stock. Finally, Weiss Ratings cut shares of Gartner from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Saturday, October 25th. Four analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $311.67.

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.