Adage Capital Partners GP L.L.C. Sells 2,000 Shares of Gartner, Inc. $IT

Key Points

• Adage Capital Partners GP L.L.C. has reduced its position in Gartner, Inc. by 2.8%, selling 2,000 shares in the 1st quarter, bringing their total holdings to 70,100 shares worth approximately $29.4 million.
• Insider trading activity includes Director Jose M. Gutierrez purchasing 417 shares for about $100,000, indicating confidence in the company, while SVP John J. Rinello sold 105 shares.
• Gartner's recent earnings report showed a net margin of 19.71% and a return on equity of 82.63%, though revenue fell short of analysts' expectations.

Adage Capital Partners GP L.L.C. lowered its holdings in shares of Gartner, Inc. (NYSE:IT - Free Report) by 2.8% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 70,100 shares of the information technology services provider's stock after selling 2,000 shares during the period. Adage Capital Partners GP L.L.C. owned about 0.09% of Gartner worth $29,424,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Cary Street Partners Financial LLC acquired a new position in shares of Gartner during the 4th quarter worth $27,000. Olde Wealth Management LLC acquired a new position in shares of Gartner during the 1st quarter worth $42,000. GW&K Investment Management LLC raised its holdings in shares of Gartner by 210.8% during the 1st quarter. GW&K Investment Management LLC now owns 115 shares of the information technology services provider's stock worth $48,000 after buying an additional 78 shares in the last quarter. Wayfinding Financial LLC acquired a new position in shares of Gartner during the 1st quarter worth $55,000. Finally, Bayforest Capital Ltd raised its holdings in shares of Gartner by 527.3% during the 1st quarter. Bayforest Capital Ltd now owns 138 shares of the information technology services provider's stock worth $58,000 after buying an additional 116 shares in the last quarter. Institutional investors and hedge funds own 91.51% of the company's stock.

Insider Transactions at Gartner

In related news, SVP John J. Rinello sold 105 shares of the company's stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $249.71, for a total transaction of $26,219.55. Following the sale, the senior vice president owned 3,225 shares in the company, valued at $805,314.75. This represents a 3.15% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jose M. Gutierrez bought 417 shares of the business's stock in a transaction that occurred on Monday, August 18th. The shares were acquired at an average price of $239.80 per share, for a total transaction of $99,996.60. Following the transaction, the director owned 2,080 shares in the company, valued at $498,784. This represents a 25.08% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 3.60% of the company's stock.

Gartner Trading Down 4.3%

Shares of NYSE IT traded down $10.67 during trading on Wednesday, reaching $235.61. The company had a trading volume of 234,456 shares, compared to its average volume of 846,848. The company's fifty day moving average price is $301.83 and its 200-day moving average price is $384.94. Gartner, Inc. has a 12 month low of $223.65 and a 12 month high of $584.01. The stock has a market cap of $17.84 billion, a P/E ratio of 14.51 and a beta of 1.20. 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 (NYSE:IT - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The information technology services provider reported $3.53 EPS for the quarter, beating analysts' consensus estimates of $3.38 by $0.15. Gartner had a return on equity of 82.63% and a net margin of 19.71%.The firm had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.68 billion. During the same quarter in the previous year, the company posted $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. As a group, research analysts expect that Gartner, Inc. will post 12.5 earnings per share for the current year.

Analyst Ratings Changes

IT has been the subject of a number of research analyst reports. Royal Bank Of Canada assumed coverage on Gartner in a report on Tuesday. They set a "sector perform" rating and a $263.00 price target for the company. BMO Capital Markets lowered their target price on Gartner from $409.00 to $272.00 and set a "market perform" rating for the company in a report on Wednesday, August 6th. The Goldman Sachs Group lowered their target price on Gartner from $535.00 to $457.00 and set a "buy" rating for the company in a report on Wednesday, August 6th. Barclays lowered their target price on Gartner from $475.00 to $320.00 and set an "overweight" rating for the company in a report on Wednesday, August 6th. Finally, UBS Group reaffirmed a "neutral" rating and issued a $270.00 target price (down previously from $480.00) on shares of Gartner in a report on Wednesday, August 6th. Three investment analysts have rated the stock with a Buy rating, six 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 a consensus price target of $357.44.

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.