2,870 Shares in Gartner, Inc. $IT Acquired by Allstate Corp

Allstate Corp acquired a new position in shares of Gartner, Inc. (NYSE:IT) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 2,870 shares of the information technology services provider’s stock, valued at approximately $754,000.

A number of other institutional investors also recently bought and sold shares of IT. Aviva PLC boosted its position in shares of Gartner by 6.1% in the second quarter. Aviva PLC now owns 58,559 shares of the information technology services provider’s stock worth $23,671,000 after acquiring an additional 3,390 shares during the last quarter. Highland Capital Management LLC acquired a new position in Gartner during the third quarter worth approximately $1,502,000. Buttonwood Financial Advisors Inc. purchased a new position in Gartner during the third quarter worth approximately $1,581,000. State of Michigan Retirement System boosted its holdings in shares of Gartner by 10.1% in the 2nd quarter. State of Michigan Retirement System now owns 22,947 shares of the information technology services provider’s stock valued at $9,276,000 after purchasing an additional 2,100 shares during the last quarter. Finally, Edgestream Partners L.P. boosted its holdings in shares of Gartner by 774.5% in the 2nd quarter. Edgestream Partners L.P. now owns 22,080 shares of the information technology services provider’s stock valued at $8,925,000 after purchasing an additional 19,555 shares during the last quarter. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Gartner Stock Performance

Shares of NYSE:IT opened at $236.93 on Friday. The business’s 50-day simple moving average is $238.18 and its 200 day simple moving average is $259.79. The company has a market cap of $17.08 billion, a P/E ratio of 20.78 and a beta of 1.07. The company has a debt-to-equity ratio of 4.42, a quick ratio of 0.88 and a current ratio of 0.88. Gartner, Inc. has a one year low of $221.16 and a one year 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, beating the consensus estimate of $2.41 by $0.35. The company had revenue of $1.52 billion during the quarter, compared to the consensus estimate 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. On average, sell-side analysts forecast that Gartner, Inc. will post 12.5 earnings per share for the current fiscal year.

Insider Activity at Gartner

In other Gartner news, Director Stephen G. Pagliuca bought 43,300 shares of the stock in a transaction dated Wednesday, December 10th. The stock was bought at an average cost of $229.57 per share, for a total transaction of $9,940,381.00. Following the completion of the purchase, the director directly owned 111,613 shares of the company’s stock, valued at approximately $25,622,996.41. The trade was a 63.38% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Claire Herkes sold 367 shares of Gartner stock in a transaction dated Wednesday, December 3rd. The stock was 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 approximately $943,375.44. The trade was 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.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on IT shares. BMO Capital Markets dropped 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 raised their price objective on Gartner from $256.00 to $270.00 and gave the stock a “neutral” rating in a report on Friday, January 9th. Truist Financial set a $300.00 price objective on Gartner in a research note on Wednesday, November 26th. Morgan Stanley cut their price target on shares of Gartner from $281.00 to $275.00 and set an “equal weight” rating on the stock in a report on Wednesday, December 17th. Finally, William Blair reaffirmed an “outperform” rating on shares of Gartner in a research report on Tuesday, October 21st. Four analysts have rated the stock with a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Gartner presently has a consensus rating of “Hold” and an average target price of $309.67.

About Gartner

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.