AlphaGrep UK Ltd purchased a new stake in Gartner, Inc. (NYSE:IT - Free Report) during the second quarter, according to its most recent filing with the SEC. The fund purchased 5,458 shares of the information technology services provider's stock, valued at approximately $707,000.
Other institutional investors have also recently made changes to their positions in the company. Syon Capital LLC boosted its position in shares of Gartner by 5.3% during the 2nd quarter. Syon Capital LLC now owns 1,623 shares of the information technology services provider's stock valued at $210,000 after acquiring an additional 82 shares during the last quarter. NEOS Investment Management LLC lifted its holdings in shares of Gartner by 5.7% in the 2nd quarter. NEOS Investment Management LLC now owns 10,390 shares of the information technology services provider's stock valued at $1,347,000 after acquiring an additional 560 shares during the last quarter. Nykredit A S purchased a new position in Gartner in the second quarter worth about $292,000. Two Sigma Securities LLC purchased a new stake in Gartner during the second quarter valued at approximately $630,000. Finally, Mufg Securities Americas Inc. raised its position in Gartner by 3.5% during the second quarter. Mufg Securities Americas Inc. now owns 2,017 shares of the information technology services provider's stock valued at $261,000 after purchasing an additional 68 shares during the period. Hedge funds and other institutional investors own 91.51% of the company's stock.
Wall Street Analysts Forecast Growth
A number of research analysts have weighed in on IT shares. Weiss Ratings upgraded shares of Gartner from a "sell (d)" rating to a "sell (d+)" rating in a research report on Thursday, August 13th. Wells Fargo & Company upped their target price on shares of Gartner from $120.00 to $150.00 and gave the stock an "underweight" rating in a research note on Wednesday, August 5th. The Goldman Sachs Group lifted their price target on shares of Gartner from $162.00 to $181.00 and gave the company a "neutral" rating in a research note on Wednesday, August 5th. Royal Bank Of Canada boosted their price target on Gartner from $160.00 to $164.00 and gave the company a "sector perform" rating in a report on Wednesday, August 5th. Finally, UBS Group upped their target price on Gartner from $164.00 to $196.00 and gave the stock a "neutral" rating in a report on Wednesday, August 5th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $187.30.
View Our Latest Stock Analysis on IT
Gartner Trading Down 4.7%
IT stock opened at $186.19 on Friday. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 46.98. Gartner, Inc. has a 52-week low of $124.25 and a 52-week high of $265.85. The company's 50-day simple moving average is $163.98 and its 200-day simple moving average is $157.41. The firm has a market cap of $11.76 billion, a P/E ratio of 16.70, a PEG ratio of 0.67 and a beta of 0.96.
Gartner (NYSE:IT - Get Free Report) last posted its quarterly earnings data on Tuesday, August 4th. The information technology services provider reported $4.37 EPS for the quarter, beating analysts' consensus estimates of $3.76 by $0.61. The business had revenue of $1.68 billion during the quarter, compared to analysts' expectations of $1.65 billion. Gartner had a return on equity of 525.46% and a net margin of 11.99%.The business's revenue was down .6% compared to the same quarter last year. During the same period in the previous year, the business earned $3.53 earnings per share. Gartner has set its FY 2026 guidance at 14.000- EPS. As a group, equities analysts forecast that Gartner, Inc. will post 14.42 EPS for the current fiscal year.
Insider Activity at Gartner
In related news, EVP Yvonne Genovese sold 1,205 shares of the company's stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $190.06, for a total transaction of $229,022.30. Following the completion of the transaction, the executive vice president owned 6,208 shares in the company, valued at $1,179,892.48. This represents a 16.26% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Akhil Jain sold 700 shares of Gartner stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $201.73, for a total value of $141,211.00. Following the completion of the sale, the executive vice president owned 8,130 shares in the company, valued at approximately $1,640,064.90. The trade was a 7.93% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 6,043 shares of company stock worth $1,172,858 over the last three months. Company insiders own 2.60% of the company's stock.
Gartner Company Profile
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Free Report)
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.
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