Abacus FCF Advisors LLC Buys 31,076 Shares of Gartner, Inc. $IT

Key Points

• Abacus FCF Advisors LLC increased its holdings in Gartner, Inc. by 534.6% during Q2, acquiring 31,076 additional shares, bringing its total to 36,889 shares, valued at approximately $14.9 million.
• Several institutional investors have also made significant moves, with 91.51% of Gartner's stock currently held by hedge funds and institutional investors.
• Analysts have lowered their price targets for Gartner, with Barclays cutting it from $475 to $320, while the consensus rating remains a "Hold" with an average target price of $357.44.

Abacus FCF Advisors LLC grew its holdings in shares of Gartner, Inc. (NYSE:IT - Free Report) by 534.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,889 shares of the information technology services provider's stock after buying an additional 31,076 shares during the quarter. Gartner makes up 2.1% of Abacus FCF Advisors LLC's portfolio, making the stock its 23rd largest position. Abacus FCF Advisors LLC's holdings in Gartner were worth $14,911,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of IT. Vanguard Group Inc. grew its stake in Gartner by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 9,433,449 shares of the information technology services provider's stock valued at $3,959,596,000 after buying an additional 164,810 shares during the last quarter. Generation Investment Management LLP grew its stake in Gartner by 16.5% in the 1st quarter. Generation Investment Management LLP now owns 1,341,342 shares of the information technology services provider's stock valued at $563,015,000 after buying an additional 189,514 shares during the last quarter. JPMorgan Chase & Co. grew its stake in Gartner by 20.5% in the 1st quarter. JPMorgan Chase & Co. now owns 1,245,563 shares of the information technology services provider's stock valued at $522,813,000 after buying an additional 211,842 shares during the last quarter. T. Rowe Price Investment Management Inc. grew its stake in Gartner by 692.2% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 1,066,732 shares of the information technology services provider's stock valued at $447,751,000 after buying an additional 932,077 shares during the last quarter. Finally, Northern Trust Corp grew its stake in Gartner by 11.0% in the 1st quarter. Northern Trust Corp now owns 1,006,655 shares of the information technology services provider's stock valued at $422,533,000 after buying an additional 99,822 shares during the last quarter. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Gartner Stock Down 1.5%

NYSE:IT traded down $3.94 during trading hours on Tuesday, reaching $256.20. The company had a trading volume of 565,473 shares, compared to its average volume of 911,852. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 1.61. The firm has a market cap of $19.40 billion, a price-to-earnings ratio of 15.73 and a beta of 1.20. The business's 50-day simple moving average is $276.26 and its two-hundred day simple moving average is $368.93. Gartner, Inc. has a twelve month low of $223.65 and a twelve month high of $584.01.

Gartner (NYSE:IT - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The information technology services provider reported $3.53 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 analysts' expectations of $1.68 billion. During the same period last year, the company earned $3.22 earnings per share. 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, equities analysts expect that Gartner, Inc. will post 12.5 earnings per share for the current year.

Insider Transactions at Gartner

In other Gartner news, SVP John J. Rinello sold 105 shares of Gartner stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $249.71, for a total value of $26,219.55. Following the sale, the senior vice president owned 3,225 shares of the company's stock, valued at approximately $805,314.75. The trade was a 3.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Jose M. Gutierrez acquired 417 shares of the stock in a transaction on Monday, August 18th. The stock was bought at an average cost of $239.80 per share, for a total transaction of $99,996.60. Following the transaction, the director owned 2,080 shares of the company's stock, valued at approximately $498,784. This trade represents a 25.08% increase in their position. The disclosure for this purchase can be found here. 3.60% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on IT. Barclays cut their price objective on shares of Gartner from $475.00 to $320.00 and set an "overweight" rating for the company in a report on Wednesday, August 6th. Morgan Stanley cut their price target on shares of Gartner from $455.00 to $322.00 and set an "equal weight" rating for the company in a report on Wednesday, August 6th. BMO Capital Markets cut their price target on shares of Gartner from $409.00 to $272.00 and set a "market perform" rating for the company in a report on Wednesday, August 6th. Royal Bank Of Canada assumed coverage on shares of Gartner in a report on Tuesday, September 9th. They set a "sector perform" rating and a $263.00 price target for the company. Finally, The Goldman Sachs Group dropped their price objective on shares of Gartner from $535.00 to $457.00 and set a "buy" rating for the company in a research note on Wednesday, August 6th. Three investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $357.44.

Gartner Company 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.