QRG Capital Management Inc. Trims Stock Position in Gartner, Inc. $IT

QRG Capital Management Inc. trimmed its holdings in Gartner, Inc. (NYSE:IT) by 59.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 1,547 shares of the information technology services provider’s stock after selling 2,253 shares during the period. QRG Capital Management Inc.’s holdings in Gartner were worth $407,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Addison Advisors LLC acquired a new position in shares of Gartner in the 2nd quarter valued at $27,000. True Wealth Design LLC lifted its position in Gartner by 1,130.8% in the third quarter. True Wealth Design LLC now owns 160 shares of the information technology services provider’s stock valued at $42,000 after buying an additional 147 shares during the last quarter. Chilton Capital Management LLC purchased a new position in Gartner during the second quarter worth about $47,000. Versant Capital Management Inc boosted its stake in Gartner by 1,284.6% during the third quarter. Versant Capital Management Inc now owns 180 shares of the information technology services provider’s stock worth $47,000 after buying an additional 167 shares during the period. Finally, Osterweis Capital Management Inc. acquired a new stake in shares of Gartner during the second quarter valued at about $48,000. Institutional investors and hedge funds own 91.51% of the company’s stock.

Insider Buying and Selling

In other Gartner news, SVP John J. Rinello sold 220 shares of the business’s stock in a transaction that occurred on Wednesday, December 3rd. The shares were sold at an average price of $229.57, for a total transaction of $50,505.40. Following the completion of the transaction, the senior vice president owned 3,046 shares in the company, valued at $699,270.22. The trade was a 6.74% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Claire Herkes sold 367 shares of the firm’s stock in a transaction on Wednesday, December 3rd. The shares were sold at an average price of $231.56, for a total transaction of $84,982.52. Following the completion of the sale, the executive vice president owned 4,074 shares in the company, valued at $943,375.44. The trade was a 8.26% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 2.30% of the company’s stock.

Gartner Stock Down 2.3%

Gartner stock opened at $231.69 on Friday. The firm has a market capitalization of $16.70 billion, a P/E ratio of 20.32 and a beta of 1.07. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 4.42. Gartner, Inc. has a twelve month low of $221.16 and a twelve month high of $584.01. The stock’s fifty day simple moving average is $238.19 and its 200-day simple moving average is $258.63.

Gartner (NYSE:IT) last released its earnings results on Tuesday, November 4th. The information technology services provider reported $2.76 EPS for the quarter, topping the consensus estimate of $2.41 by $0.35. Gartner had a return on equity of 92.12% and a net margin of 13.71%.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. As a group, equities analysts expect that Gartner, Inc. will post 12.5 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on IT shares. BMO Capital Markets lowered their price objective on shares of Gartner from $272.00 to $254.00 and set a “market perform” rating for the company in a research report on Wednesday, November 5th. Weiss Ratings cut Gartner from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Saturday, October 25th. William Blair reaffirmed an “outperform” rating on shares of Gartner in a research note on Tuesday, October 21st. UBS Group increased their target price on Gartner from $256.00 to $270.00 and gave the stock a “neutral” rating in a research note on Friday, January 9th. Finally, Barclays lowered their target price on Gartner from $270.00 to $260.00 and set an “equal weight” rating for the company in a report on Wednesday, November 5th. Four analysts have rated the stock with a Buy rating, six have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $309.67.

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.