AlphaQuest LLC Raises Stake in Gartner, Inc. $IT

Key Points

• AlphaQuest LLC increased its stake in Gartner, Inc. by 32% during Q2, now owning 5,473 shares valued at approximately $2.2 million.
• Institutional investors hold 91.51% of Gartner's shares, indicating strong institutional interest in the company.
• Gartner's latest earnings report revealed earnings per share of $3.53, beating estimates, with a year-over-year revenue increase of 5.7%.

AlphaQuest LLC grew its stake in shares of Gartner, Inc. (NYSE:IT - Free Report) by 32.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,473 shares of the information technology services provider's stock after buying an additional 1,328 shares during the period. AlphaQuest LLC's holdings in Gartner were worth $2,212,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Ransom Advisory Ltd bought a new stake in shares of Gartner during the first quarter valued at approximately $29,000. Olde Wealth Management LLC bought a new stake in shares of Gartner during the first quarter valued at approximately $42,000. GW&K Investment Management LLC raised its position in shares of Gartner by 210.8% during the first quarter. GW&K Investment Management LLC now owns 115 shares of the information technology services provider's stock valued at $48,000 after buying an additional 78 shares during the last quarter. Wayfinding Financial LLC bought a new stake in shares of Gartner during the first quarter valued at approximately $55,000. Finally, Bayforest Capital Ltd raised its position in shares of Gartner by 527.3% during the first quarter. Bayforest Capital Ltd now owns 138 shares of the information technology services provider's stock valued at $58,000 after buying an additional 116 shares during the last quarter. Institutional investors own 91.51% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on IT shares. Truist Financial started coverage on shares of Gartner in a research report on Thursday, October 16th. They issued a "buy" rating and a $300.00 price target on the stock. Weiss Ratings restated a "hold (c-)" rating on shares of Gartner in a research report on Wednesday, October 8th. William Blair reiterated an "outperform" rating on shares of Gartner in a research report on Tuesday. Morgan Stanley set a $307.00 price objective on shares of Gartner in a research report on Monday, October 13th. Finally, Wells Fargo & Company cut their price objective on shares of Gartner from $345.00 to $225.00 and set an "underweight" rating on the stock in a research report on Wednesday, August 6th. Four investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Gartner has a consensus rating of "Hold" and an average target price of $346.20.

Insider Transactions at Gartner

In other Gartner news, Director Jose M. Gutierrez acquired 417 shares of the stock in a transaction that occurred on Monday, August 18th. The stock was bought at an average cost of $239.80 per share, with a total value of $99,996.60. Following the completion of the purchase, the director directly owned 2,080 shares in the company, valued at $498,784. The trade was a 25.08% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 completion of the sale, the senior vice president directly owned 3,225 shares of the company's stock, valued at approximately $805,314.75. This trade represents a 3.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.30% of the stock is owned by corporate insiders.

Gartner Stock Up 0.0%

Shares of IT opened at $250.98 on Friday. The firm has a market capitalization of $19.01 billion, a P/E ratio of 15.43 and a beta of 1.20. Gartner, Inc. has a 12-month low of $223.65 and a 12-month high of $584.01. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 1.61. The firm has a fifty day moving average price of $248.50 and a 200-day moving average price of $341.16.

Gartner (NYSE:IT - Get Free Report) last issued its earnings results 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 analyst estimates of $1.68 billion. During the same period in the previous year, the firm 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. Equities research analysts expect that Gartner, Inc. will post 12.5 earnings per share for the current year.

About Gartner

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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