Callan Family Office LLC Buys 1,460 Shares of Gartner, Inc. $IT

Key Points

• Callan Family Office LLC has increased its stake in Gartner, Inc. by 145.7%, acquiring an additional 1,460 shares, bringing its total holdings to 2,462 shares valued at approximately $995,000.
• Other institutional investors, including Wealth Enhancement Advisory Services and Abacus FCF Advisors, also significantly increased their holdings in Gartner, indicating growing institutional interest.
• Despite a decline in target prices from various analysts, Gartner reported better-than-expected earnings per share of $3.53 for the last quarter, surpassing estimates by $0.15.

Callan Family Office LLC raised its stake in shares of Gartner, Inc. (NYSE:IT - Free Report) by 145.7% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,462 shares of the information technology services provider's stock after purchasing an additional 1,460 shares during the period. Callan Family Office LLC's holdings in Gartner were worth $995,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of IT. Wealth Enhancement Advisory Services LLC raised its position in shares of Gartner by 22.2% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 34,964 shares of the information technology services provider's stock worth $13,995,000 after acquiring an additional 6,352 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in shares of Gartner by 10.2% in the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 12,433 shares of the information technology services provider's stock worth $5,026,000 after acquiring an additional 1,150 shares in the last quarter. Pallas Capital Advisors LLC raised its position in shares of Gartner by 154.4% in the 2nd quarter. Pallas Capital Advisors LLC now owns 3,445 shares of the information technology services provider's stock worth $1,393,000 after acquiring an additional 2,091 shares in the last quarter. Bright Rock Capital Management LLC bought a new position in shares of Gartner in the 2nd quarter worth about $1,859,000. Finally, Abacus FCF Advisors LLC raised its position in shares of Gartner by 534.6% in the 2nd quarter. Abacus FCF Advisors LLC now owns 36,889 shares of the information technology services provider's stock worth $14,911,000 after acquiring an additional 31,076 shares in the last quarter. 91.51% of the stock is owned by institutional investors.

Insider Transactions at Gartner

In related news, Director Jose M. Gutierrez purchased 417 shares of the business's stock in a transaction on Monday, August 18th. The stock was acquired at an average price of $239.80 per share, for a total transaction of $99,996.60. Following the purchase, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, 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 transaction, the senior vice president owned 3,225 shares of the company's stock, valued at $805,314.75. This trade represents 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.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on IT shares. Barclays lowered their price objective on Gartner from $475.00 to $320.00 and set an "overweight" rating for the company in a research report on Wednesday, August 6th. Weiss Ratings reissued a "hold (c-)" rating on shares of Gartner in a research report on Wednesday, October 8th. BMO Capital Markets lowered their price objective on Gartner from $409.00 to $272.00 and set a "market perform" rating for the company in a research report on Wednesday, August 6th. Morgan Stanley decreased their target price on Gartner from $455.00 to $322.00 and set an "equal weight" rating for the company in a research report on Wednesday, August 6th. Finally, The Goldman Sachs Group decreased their target price on Gartner from $535.00 to $457.00 and set a "buy" rating for the company in a research report on Wednesday, August 6th. Three equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $358.56.

Gartner Stock Performance

Shares of Gartner stock opened at $239.66 on Monday. Gartner, Inc. has a one year low of $223.65 and a one year high of $584.01. The firm has a market capitalization of $18.15 billion, a price-to-earnings ratio of 14.75 and a beta of 1.20. The business has a 50-day simple moving average of $248.97 and a 200 day simple moving average of $350.43. The company has a debt-to-equity ratio of 1.61, a current ratio of 1.11 and a quick ratio of 1.11.

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 (EPS) for the quarter, beating analysts' consensus estimates of $3.38 by $0.15. The business had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.68 billion. Gartner had a return on equity of 82.63% and a net margin of 19.71%.The company's quarterly revenue was up 5.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.22 EPS. Gartner has set its FY 2025 guidance at 11.750- EPS. On average, research 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.

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