Hiddenite Capital Partners LP Takes $7.62 Million Position in Gartner, Inc. $IT

Hiddenite Capital Partners LP bought a new position in shares of Gartner, Inc. (NYSE:IT) in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor bought 29,000 shares of the information technology services provider’s stock, valued at approximately $7,623,000. Gartner accounts for approximately 1.4% of Hiddenite Capital Partners LP’s holdings, making the stock its 18th biggest position.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. CFC Planning Co LLC purchased a new stake in Gartner in the 3rd quarter worth $205,000. Resonant Capital Advisors LLC grew its position in shares of Gartner by 23.4% in the third quarter. Resonant Capital Advisors LLC now owns 3,077 shares of the information technology services provider’s stock valued at $809,000 after purchasing an additional 583 shares during the period. Sequoia Financial Advisors LLC increased its stake in shares of Gartner by 21.6% during the third quarter. Sequoia Financial Advisors LLC now owns 2,097 shares of the information technology services provider’s stock worth $551,000 after purchasing an additional 372 shares in the last quarter. Maryland State Retirement & Pension System raised its position in shares of Gartner by 5.0% during the 3rd quarter. Maryland State Retirement & Pension System now owns 3,822 shares of the information technology services provider’s stock worth $1,005,000 after purchasing an additional 181 shares during the last quarter. Finally, Occidental Asset Management LLC raised its position in shares of Gartner by 40.4% during the 3rd quarter. Occidental Asset Management LLC now owns 1,658 shares of the information technology services provider’s stock worth $436,000 after purchasing an additional 477 shares during the last quarter. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Claire Herkes sold 367 shares of the business’s stock in a transaction dated Wednesday, December 3rd. The shares were sold at an average price of $231.56, for a total value of $84,982.52. Following the sale, the executive vice president directly owned 4,074 shares in the company, valued at $943,375.44. The trade was a 8.26% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Stephen G. Pagliuca purchased 43,300 shares of Gartner stock in a transaction on Wednesday, December 10th. The stock was acquired at an average cost of $229.57 per share, for a total transaction of $9,940,381.00. Following the acquisition, the director directly owned 111,613 shares of the company’s stock, valued at approximately $25,622,996.41. This represents a 63.38% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders own 2.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on IT. 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 note on Wednesday, November 5th. Truist Financial set a $300.00 price target on Gartner in a research note on Wednesday, November 26th. William Blair reiterated an “outperform” rating on shares of Gartner in a research report on Tuesday, October 21st. Weiss Ratings cut Gartner from a “hold (c-)” rating to a “sell (d+)” rating in a report on Saturday, October 25th. Finally, Barclays decreased their price objective on Gartner from $270.00 to $260.00 and set an “equal weight” rating on the stock in a report 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 issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $309.67.

Gartner Stock Performance

Shares of IT opened at $231.00 on Monday. The stock has a 50 day moving average price of $238.15 and a 200 day moving average price of $262.59. Gartner, Inc. has a 52-week low of $222.54 and a 52-week high of $584.01. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 4.42. The company has a market capitalization of $16.65 billion, a price-to-earnings ratio of 20.26 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, beating the consensus estimate of $2.41 by $0.35. The business had revenue of $1.52 billion during the quarter, compared to the consensus estimate of $1.52 billion. Gartner had a return on equity of 92.12% and a net margin of 13.71%.Gartner has set its FY 2025 guidance at 12.650- EPS. Research analysts predict that Gartner, Inc. will post 12.5 EPS for the current fiscal year.

Gartner Company 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.