Gartner, Inc. $IT Stake Boosted by Allworth Financial LP

Allworth Financial LP grew its holdings in shares of Gartner, Inc. (NYSE:IT) by 804.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,085 shares of the information technology services provider’s stock after purchasing an additional 4,523 shares during the period. Allworth Financial LP’s holdings in Gartner were worth $2,056,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of IT. Vanguard Group Inc. boosted its stake in Gartner by 1.8% in the first quarter. Vanguard Group Inc. now owns 9,433,449 shares of the information technology services provider’s stock valued at $3,959,596,000 after acquiring an additional 164,810 shares during the period. Generation Investment Management LLP boosted its position in Gartner by 16.5% during the 1st quarter. Generation Investment Management LLP now owns 1,341,342 shares of the information technology services provider’s stock valued at $563,015,000 after purchasing an additional 189,514 shares during the period. JPMorgan Chase & Co. grew its stake in Gartner by 20.5% during the 1st quarter. JPMorgan Chase & Co. now owns 1,245,563 shares of the information technology services provider’s stock worth $522,813,000 after buying an additional 211,842 shares during the last quarter. T. Rowe Price Investment Management Inc. increased its position in Gartner by 692.2% in the first quarter. T. Rowe Price Investment Management Inc. now owns 1,066,732 shares of the information technology services provider’s stock worth $447,751,000 after buying an additional 932,077 shares during the period. Finally, Northern Trust Corp lifted its stake in Gartner by 11.0% in the first quarter. Northern Trust Corp now owns 1,006,655 shares of the information technology services provider’s stock valued at $422,533,000 after buying an additional 99,822 shares during the last quarter. 91.51% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on IT shares. Morgan Stanley set a $307.00 price objective on shares of Gartner in a report on Monday, October 13th. Weiss Ratings cut Gartner from a “hold (c-)” rating to a “sell (d+)” rating in a report on Saturday, October 25th. BMO Capital Markets decreased their price objective on Gartner from $272.00 to $254.00 and set a “market perform” rating for the company in a report on Wednesday, November 5th. UBS Group lowered their price target on Gartner from $280.00 to $256.00 and set a “neutral” rating on the stock in a report on Wednesday, November 5th. Finally, Truist Financial began coverage on shares of Gartner in a report on Thursday, October 16th. They issued a “buy” rating and a $300.00 price objective for the company. Four research analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $311.67.

Gartner Trading Up 0.2%

Shares of NYSE IT opened at $230.50 on Friday. The company has a debt-to-equity ratio of 1.61, a quick ratio of 1.11 and a current ratio of 1.11. The stock has a market cap of $17.46 billion, a price-to-earnings ratio of 14.18 and a beta of 1.19. The business has a 50 day simple moving average of $246.87 and a 200 day simple moving average of $323.97. Gartner, Inc. has a 52 week low of $222.54 and a 52 week high of $584.01.

Gartner (NYSE:IT) last issued its quarterly earnings data on Tuesday, November 4th. The information technology services provider reported $2.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $1.52 billion. Gartner has set its FY 2025 guidance at 12.650- EPS. On average, research analysts predict that Gartner, Inc. will post 12.5 earnings per share for the current fiscal year.

Insider Activity at Gartner

In other Gartner news, SVP John J. Rinello sold 105 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the senior vice president owned 3,225 shares of the company’s stock, valued at $805,314.75. This represents a 3.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jose M. Gutierrez purchased 417 shares of the company’s stock in a transaction dated Monday, August 18th. The stock was purchased at an average cost of $239.80 per share, for a total transaction of $99,996.60. Following the transaction, the director owned 2,080 shares of the company’s stock, valued at approximately $498,784. This trade represents a 25.08% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 2.30% of the stock is currently owned by insiders.

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.