Avanza Fonder AB Takes Position in Gartner, Inc. $IT

Key Points

• Avanza Fonder AB has invested approximately $1.87 million in Gartner, Inc. by purchasing 4,637 shares during the second quarter, reflecting growing institutional interest in the company.
• Wall Street analysts have lowered their price targets for Gartner, with estimates ranging from $263.00 to $322.00, while the stock currently has an average rating of "Hold."
• Insider trading activity includes Director Jose M. Gutierrez buying 417 shares and SVP John J. Rinello selling 105 shares, highlighting mixed confidence among Gartner's leadership.

Avanza Fonder AB acquired a new stake in shares of Gartner, Inc. (NYSE:IT - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 4,637 shares of the information technology services provider's stock, valued at approximately $1,874,000.

Several other large investors have also made changes to their positions in the company. Brighton Jones LLC bought a new stake in shares of Gartner in the fourth quarter valued at about $309,000. State of Wyoming purchased a new position in shares of Gartner in the fourth quarter worth about $125,000. Woodline Partners LP purchased a new position in shares of Gartner in the 4th quarter worth about $2,251,000. Waverly Advisors LLC purchased a new stake in Gartner in the fourth quarter worth about $348,000. Finally, Vise Technologies Inc. increased its position in Gartner by 65.7% during the fourth quarter. Vise Technologies Inc. now owns 2,186 shares of the information technology services provider's stock valued at $1,059,000 after acquiring an additional 867 shares during the last quarter. Institutional investors own 91.51% of the company's stock.

Insiders Place Their Bets

In related news, Director Jose M. Gutierrez acquired 417 shares of the stock in a transaction 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 approximately $498,784. This trade represents a 25.08% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP John J. Rinello sold 105 shares of the business'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 trade represents a 3.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.60% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on IT. UBS Group restated a "neutral" rating and issued a $270.00 target price (down previously from $480.00) on shares of Gartner in a research note on Wednesday, August 6th. BMO Capital Markets lowered their price objective on shares of Gartner from $409.00 to $272.00 and set a "market perform" rating for the company in a research note on Wednesday, August 6th. The Goldman Sachs Group reduced their price objective on shares of Gartner from $535.00 to $457.00 and set a "buy" rating on the stock in a research note on Wednesday, August 6th. Morgan Stanley dropped their price target on Gartner from $455.00 to $322.00 and set an "equal weight" rating on the stock in a report on Wednesday, August 6th. Finally, Wells Fargo & Company lowered their target price on shares of Gartner from $345.00 to $225.00 and set an "underweight" rating on the stock in a research note on Wednesday, August 6th. Three equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, Gartner currently has an average rating of "Hold" and an average target price of $357.44.

Gartner Stock Performance

Gartner stock traded up $4.30 during midday trading on Monday, reaching $260.69. The stock had a trading volume of 1,762,923 shares, compared to its average volume of 1,548,627. 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's 50-day moving average price is $276.26 and its 200 day moving average price is $368.93. The firm has a market capitalization of $19.74 billion, a PE ratio of 16.04 and a beta of 1.20. Gartner, Inc. has a 12 month low of $223.65 and a 12 month high of $584.01.

Gartner (NYSE:IT - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The information technology services provider reported $3.53 earnings per share for the quarter, beating the consensus estimate of $3.38 by $0.15. Gartner had a return on equity of 82.63% and a net margin of 19.71%.The company had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.68 billion. During the same period in the previous year, the company posted $3.22 earnings per share. The firm'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 predict that Gartner, Inc. will post 12.5 earnings per share for the current fiscal year.

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.