4,600 Shares in Gartner, Inc. $IT Bought by Bright Rock Capital Management LLC

Key Points

• Bright Rock Capital Management LLC invested approximately $1.86 million in Gartner, Inc. by acquiring 4,600 shares during the 2nd quarter.
• Gartner reported $3.53 EPS for the last quarter, exceeding expectations and showing a 5.7% year-over-year revenue increase to $1.66 billion.
• Institutional investors own 91.51% of Gartner's stock, and several analysts have recently adjusted their price targets, with a consensus price target of $357.44.

Bright Rock Capital Management LLC acquired a new stake in shares of Gartner, Inc. (NYSE:IT - Free Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 4,600 shares of the information technology services provider's stock, valued at approximately $1,859,000.

A number of other hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. increased its stake in shares of Gartner by 1.8% during the first 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 acquiring an additional 164,810 shares during the period. Generation Investment Management LLP grew its position in Gartner by 16.5% in the first quarter. Generation Investment Management LLP now owns 1,341,342 shares of the information technology services provider's stock worth $563,015,000 after buying an additional 189,514 shares during the last quarter. JPMorgan Chase & Co. grew its position in Gartner by 20.5% in the first quarter. JPMorgan Chase & Co. now owns 1,245,563 shares of the information technology services provider's stock worth $522,813,000 after buying an additional 211,842 shares during the last quarter. T. Rowe Price Investment Management Inc. grew its position in Gartner by 692.2% in the first quarter. T. Rowe Price Investment Management Inc. now owns 1,066,732 shares of the information technology services provider's stock worth $447,751,000 after buying an additional 932,077 shares during the last quarter. Finally, Northern Trust Corp grew its position in Gartner by 11.0% in the first quarter. Northern Trust Corp now owns 1,006,655 shares of the information technology services provider's stock worth $422,533,000 after buying an additional 99,822 shares during the last quarter. Institutional investors and hedge funds own 91.51% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Morgan Stanley decreased their price target on shares of Gartner from $455.00 to $322.00 and set an "equal weight" rating on the stock in a research report on Wednesday, August 6th. Barclays decreased their price target on shares of Gartner from $475.00 to $320.00 and set an "overweight" rating on the stock in a research report on Wednesday, August 6th. Wolfe Research began coverage on shares of Gartner in a research report on Wednesday, September 3rd. They issued a "peer perform" rating on the stock. BMO Capital Markets decreased 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. Finally, UBS Group reaffirmed a "neutral" rating and issued a $270.00 price objective (down previously from $480.00) on shares of Gartner in a research note on Wednesday, August 6th. Three research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Gartner presently has an average rating of "Hold" and an average price target of $357.44.

Insider Buying and Selling at Gartner

In other Gartner news, Director Jose M. Gutierrez acquired 417 shares of Gartner stock in a transaction that occurred on Monday, August 18th. The stock was acquired at an average price of $239.80 per share, with a total value of $99,996.60. Following the purchase, the director owned 2,080 shares in the company, valued at approximately $498,784. This trade represents a 25.08% increase in their ownership of the stock. The transaction 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 Gartner stock in a transaction on Friday, August 22nd. The shares were 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. The trade was a 3.15% decrease in their position. The disclosure for this sale can be found here. 3.60% of the stock is currently owned by insiders.

Gartner Stock Up 0.9%

Shares of NYSE:IT traded up $2.21 during trading on Monday, reaching $258.60. 548,254 shares of the company traded hands, compared to its average volume of 907,179. The firm has a fifty day simple moving average of $278.51 and a 200 day simple moving average of $370.48. The firm has a market cap of $19.59 billion, a P/E ratio of 15.91 and a beta of 1.20. Gartner, Inc. has a 1-year low of $223.65 and a 1-year high of $584.01. 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 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 company had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.68 billion. During the same quarter last year, the business posted $3.22 EPS. The company's revenue for the quarter was up 5.7% on a year-over-year basis. Gartner has set its FY 2025 guidance at 11.750- EPS. Analysts anticipate 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.