Gartner, Inc. $IT Shares Bought by Merit Financial Group LLC

Merit Financial Group LLC increased its stake in Gartner, Inc. (NYSE:IT) by 122.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,682 shares of the information technology services provider’s stock after acquiring an additional 3,126 shares during the period. Merit Financial Group LLC’s holdings in Gartner were worth $1,494,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Sequoia Financial Advisors LLC boosted its stake in Gartner by 1.8% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 1,725 shares of the information technology services provider’s stock valued at $697,000 after purchasing an additional 31 shares in the last quarter. Verdence Capital Advisors LLC lifted its holdings in shares of Gartner by 2.6% in the second quarter. Verdence Capital Advisors LLC now owns 1,333 shares of the information technology services provider’s stock valued at $539,000 after buying an additional 34 shares during the period. Accurate Wealth Management LLC boosted its stake in Gartner by 2.8% during the second quarter. Accurate Wealth Management LLC now owns 1,308 shares of the information technology services provider’s stock valued at $507,000 after buying an additional 36 shares in the last quarter. EP Wealth Advisors LLC grew its holdings in Gartner by 5.0% during the first quarter. EP Wealth Advisors LLC now owns 800 shares of the information technology services provider’s stock worth $336,000 after acquiring an additional 38 shares during the period. Finally, Apollon Wealth Management LLC raised its position in Gartner by 4.2% in the second quarter. Apollon Wealth Management LLC now owns 965 shares of the information technology services provider’s stock worth $390,000 after acquiring an additional 39 shares in the last quarter. Institutional investors own 91.51% of the company’s stock.

Gartner Stock Down 6.0%

Shares of NYSE:IT opened at $237.12 on Monday. The firm has a 50 day simple moving average of $238.51 and a 200 day simple moving average of $273.89. Gartner, Inc. has a 52 week low of $222.54 and a 52 week high of $584.01. The company has a debt-to-equity ratio of 4.42, a quick ratio of 0.88 and a current ratio of 0.88. The company has a market cap of $17.09 billion, a PE ratio of 20.80 and a beta of 1.07.

Gartner (NYSE:IT) last posted its quarterly earnings data on Tuesday, November 4th. The information technology services provider reported $2.76 earnings per share for the quarter, topping the consensus estimate of $2.41 by $0.35. The firm had revenue of $1.52 billion for the quarter, compared to analysts’ expectations of $1.52 billion. Gartner had a net margin of 13.71% and a return on equity of 92.12%. Gartner has set its FY 2025 guidance at 12.650- EPS. As a group, research analysts expect that Gartner, Inc. will post 12.5 earnings per share for the current year.

Insider Buying and Selling

In other news, SVP John J. Rinello sold 220 shares of the company’s stock in a transaction dated Wednesday, December 3rd. The stock was sold at an average price of $229.57, for a total value of $50,505.40. Following the transaction, the senior vice president owned 3,046 shares in the company, valued at $699,270.22. This represents a 6.74% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Claire Herkes sold 367 shares of the firm’s stock in a transaction that occurred on Wednesday, December 3rd. The stock was sold at an average price of $231.56, for a total transaction of $84,982.52. Following the sale, the executive vice president owned 4,074 shares of the company’s stock, valued at approximately $943,375.44. This represents a 8.26% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 2.30% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Royal Bank Of Canada assumed coverage on shares of Gartner in a research report on Tuesday, September 9th. They set a “sector perform” rating and a $263.00 price objective for the company. Truist Financial set a $300.00 target price on shares of Gartner in a report on Wednesday, November 26th. The Goldman Sachs Group dropped their price target on Gartner from $457.00 to $390.00 and set a “buy” rating on the stock in a report on Wednesday, November 5th. Wells Fargo & Company cut their price objective on Gartner from $231.00 to $218.00 and set an “underweight” rating for the company in a research report on Wednesday, November 5th. Finally, Barclays reduced their price objective on Gartner from $270.00 to $260.00 and set an “equal weight” rating for the company in a research note on Wednesday, November 5th. Four equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $308.11.

Gartner Profile

Gartner, Inc is a global research and advisory firm that provides insights, advice and tools for leaders in IT, finance, HR, customer service and other business functions. Founded in 1979 and headquartered in Stamford, Connecticut, Gartner specializes in helping organizations make informed decisions about technology, operations and strategy through a combination of published research, advisory services, consulting, executive programs and events.

The company’s offerings include proprietary research reports, market forecasts, and analytical frameworks that are widely used by technology buyers and vendors.