111 Capital Cuts Stake in Gartner, Inc. $IT

Key Points

• 111 Capital reduced its stake in Gartner, Inc. by 32.8% during the second quarter, resulting in ownership of 2,236 shares valued at approximately $904,000.
• Gartner received a mix of ratings from analysts, with a consensus rating of "Hold" and an average price target of $357.44.
• Insider transactions included Director Jose M. Gutierrez purchasing 417 shares, while SVP John J. Rinello sold 105 shares, reflecting varying confidence levels among company leaders.

111 Capital lessened its holdings in shares of Gartner, Inc. (NYSE:IT - Free Report) by 32.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,236 shares of the information technology services provider's stock after selling 1,089 shares during the quarter. 111 Capital's holdings in Gartner were worth $904,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in IT. Applied Finance Capital Management LLC lifted its holdings in shares of Gartner by 1.5% in the first quarter. Applied Finance Capital Management LLC now owns 1,945 shares of the information technology services provider's stock worth $816,000 after buying an additional 29 shares in the last quarter. Allworth Financial LP increased its holdings in Gartner by 5.6% in the 1st quarter. Allworth Financial LP now owns 562 shares of the information technology services provider's stock valued at $235,000 after acquiring an additional 30 shares during the last quarter. Brighton Jones LLC lifted its stake in Gartner by 4.9% in the 1st quarter. Brighton Jones LLC now owns 668 shares of the information technology services provider's stock worth $280,000 after purchasing an additional 31 shares in the last quarter. Resonant Capital Advisors LLC boosted its holdings in shares of Gartner by 1.6% during the 1st quarter. Resonant Capital Advisors LLC now owns 2,324 shares of the information technology services provider's stock valued at $975,000 after purchasing an additional 36 shares during the last quarter. Finally, Accurate Wealth Management LLC grew its position in shares of 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 purchasing an additional 36 shares in the last quarter. 91.51% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Royal Bank Of Canada initiated coverage on Gartner in a research report on Tuesday, September 9th. They issued a "sector perform" rating and a $263.00 target price on the stock. Weiss Ratings reiterated a "hold (c-)" rating on shares of Gartner in a research report on Saturday, September 27th. Barclays reduced their price target on shares of Gartner from $475.00 to $320.00 and set an "overweight" rating on the stock in a research report on Wednesday, August 6th. UBS Group reiterated a "neutral" rating and set a $270.00 price objective (down previously from $480.00) on shares of Gartner in a research report on Wednesday, August 6th. Finally, Wolfe Research began coverage on shares of Gartner in a research note on Wednesday, September 3rd. They issued a "peer perform" rating for the company. Three equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $357.44.

Insider Activity

In other Gartner news, Director Jose M. Gutierrez bought 417 shares of the company's stock in a transaction on Monday, August 18th. The stock was acquired at an average price of $239.80 per share, for a total transaction of $99,996.60. Following the completion of the transaction, the director directly owned 2,080 shares of the company's stock, valued at approximately $498,784. This represents a 25.08% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP John J. Rinello sold 105 shares of the company's stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $249.71, for a total value of $26,219.55. Following the transaction, the senior vice president directly owned 3,225 shares in the company, valued at approximately $805,314.75. This represents a 3.15% decrease in their position. The disclosure for this sale can be found here. 2.30% of the stock is owned by company insiders.

Gartner Stock Up 0.2%

NYSE IT opened at $257.78 on Friday. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 1.61. Gartner, Inc. has a 52 week low of $223.65 and a 52 week high of $584.01. The firm has a market capitalization of $19.52 billion, a price-to-earnings ratio of 15.86 and a beta of 1.20. The company has a fifty day moving average of $258.64 and a two-hundred day moving average of $357.17.

Gartner (NYSE:IT - Get Free Report) last released its earnings results on Tuesday, August 5th. The information technology services provider reported $3.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.38 by $0.15. Gartner had a net margin of 19.71% and a return on equity of 82.63%. The firm had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.68 billion. During the same quarter last year, the business earned $3.22 EPS. The business's revenue was up 5.7% on a year-over-year basis. Gartner has set its FY 2025 guidance at 11.750- EPS. On average, analysts predict that Gartner, Inc. will post 12.5 earnings per share for the current year.

Gartner Profile

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.

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