Cwm LLC Buys 3,261 Shares of Gartner, Inc. $IT

Key Points

• Cwm LLC increased its stake in Gartner, Inc. by 52.6% in Q2, acquiring an additional 3,261 shares, bringing its total holdings to 9,461 shares valued at approximately $3.82 million.
• Gartner reported earnings per share of $3.53 for the latest quarter, surpassing estimates, with a 5.7% revenue increase year-over-year despite a slight miss on revenue expectations.
• Brokerage ratings vary, with Truist Financial rating Gartner as a "buy" with a target price of $300, while BMO Capital Markets downgraded its target from $409 to $272, reflecting differing views on the stock's future.

Cwm LLC boosted its stake in shares of Gartner, Inc. (NYSE:IT - Free Report) by 52.6% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,461 shares of the information technology services provider's stock after buying an additional 3,261 shares during the period. Cwm LLC's holdings in Gartner were worth $3,824,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in IT. Ransom Advisory Ltd purchased a new stake in Gartner during the 1st quarter valued at $29,000. Olde Wealth Management LLC purchased a new stake in Gartner during the 1st quarter valued at $42,000. GW&K Investment Management LLC boosted its stake in 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 valued at $48,000 after purchasing an additional 78 shares during the last quarter. Wayfinding Financial LLC purchased a new stake in Gartner during the 1st quarter valued at $55,000. Finally, Bayforest Capital Ltd boosted its stake in Gartner by 527.3% during the 1st quarter. Bayforest Capital Ltd now owns 138 shares of the information technology services provider's stock valued at $58,000 after purchasing an additional 116 shares during the last quarter. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Gartner Stock Performance

IT stock opened at $235.87 on Friday. The company has a market cap of $17.86 billion, a P/E ratio of 14.52 and a beta of 1.20. The company has a debt-to-equity ratio of 1.61, a current ratio of 1.11 and a quick ratio of 1.11. The stock's fifty day moving average price is $247.17 and its 200-day moving average price is $346.47. Gartner, Inc. has a 1 year low of $223.65 and a 1 year high of $584.01.

Gartner (NYSE:IT - Get Free Report) last released its 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. The company had revenue of $1.66 billion for 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%.Gartner's quarterly revenue was up 5.7% compared to the same quarter last year. During the same period in the previous year, the business earned $3.22 earnings per share. Gartner has set its FY 2025 guidance at 11.750- EPS. On average, equities analysts forecast that Gartner, Inc. will post 12.5 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have commented on IT. Wolfe Research began coverage on Gartner in a research note on Wednesday, September 3rd. They set a "peer perform" rating on the stock. Truist Financial assumed coverage on Gartner in a research note on Thursday. They set a "buy" rating and a $300.00 target price on the stock. BMO Capital Markets dropped their price target on Gartner from $409.00 to $272.00 and set a "market perform" rating on the stock in a research note on Wednesday, August 6th. Wells Fargo & Company dropped their price target on Gartner from $345.00 to $225.00 and set an "underweight" rating on the stock in a research note on Wednesday, August 6th. Finally, Morgan Stanley set a $307.00 price target on Gartner in a research note on Monday. Four equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $351.20.

Insider Buying and Selling at Gartner

In related news, Director Jose M. Gutierrez bought 417 shares of the stock in a transaction that occurred on Monday, August 18th. The shares were bought at an average cost of $239.80 per share, for a total transaction of $99,996.60. Following the completion of the transaction, 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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 value of $26,219.55. Following the transaction, 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. 2.30% of the stock is currently owned by insiders.

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.

Want to see what other hedge funds are holding IT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Gartner, Inc. (NYSE:IT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.