DekaBank Deutsche Girozentrale Buys 5,255 Shares of Gartner, Inc. $IT

Key Points

• DekaBank Deutsche Girozentrale increased its stake in Gartner, Inc. by 4.1%, acquiring an additional 5,255 shares and bringing its total ownership to 134,054 shares, valued at approximately $54.7 million.
• Institutional investors own 91.51% of Gartner's stock, highlighting strong institutional interest in the company.
• Gartner reported earnings of $3.53 EPS for the last quarter, which exceeded the consensus estimate, with a revenue increase of 5.7% year-over-year.

DekaBank Deutsche Girozentrale lifted its stake in shares of Gartner, Inc. (NYSE:IT - Free Report) by 4.1% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 134,054 shares of the information technology services provider's stock after purchasing an additional 5,255 shares during the period. DekaBank Deutsche Girozentrale owned 0.17% of Gartner worth $54,717,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in IT. Wealth Enhancement Advisory Services LLC raised its position in Gartner by 22.2% during the second 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 holdings 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 valued at $5,026,000 after purchasing an additional 1,150 shares during the period. Pallas Capital Advisors LLC lifted its stake in 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 valued at $1,393,000 after purchasing an additional 2,091 shares during the last quarter. Bright Rock Capital Management LLC bought a new position in Gartner during the second quarter worth about $1,859,000. Finally, Abacus FCF Advisors LLC increased its position in Gartner by 534.6% during 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 buying an additional 31,076 shares during the period. Institutional investors and hedge funds own 91.51% of the company's stock.

Insider Buying and Selling at Gartner

In other news, SVP John J. Rinello sold 105 shares of the 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 completion of the transaction, the senior vice president owned 3,225 shares of the company's stock, valued at approximately $805,314.75. This represents a 3.15% decrease 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, Director Jose M. Gutierrez purchased 417 shares of Gartner stock in a transaction dated Monday, August 18th. The stock was bought at an average price of $239.80 per share, for a total transaction of $99,996.60. Following the completion of the purchase, the director owned 2,080 shares in the company, valued at $498,784. This represents a 25.08% increase in their position. The disclosure for this purchase can be found here. 3.60% of the stock is owned by corporate insiders.

Gartner Stock Performance

Shares of Gartner stock opened at $258.62 on Wednesday. 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 company has a market cap of $19.59 billion, a PE ratio of 15.91 and a beta of 1.20. The company has a 50 day moving average of $248.17 and a 200-day moving average of $342.69. 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 announced its quarterly earnings data on Tuesday, August 5th. The information technology services provider reported $3.53 EPS for the quarter, beating the consensus estimate of $3.38 by $0.15. Gartner had a net margin of 19.71% and a return on equity of 82.63%. The business had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.68 billion. During the same period in the previous year, the business earned $3.22 earnings per share. The company'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, equities research analysts forecast that Gartner, Inc. will post 12.5 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. UBS Group upped their price target on shares of Gartner from $270.00 to $280.00 and gave the company a "neutral" rating in a research note on Monday, October 6th. William Blair restated an "outperform" rating on shares of Gartner in a research report on Tuesday. Weiss Ratings reiterated a "hold (c-)" rating on shares of Gartner in a research report on Wednesday, October 8th. Wolfe Research initiated coverage on Gartner in a research note on Wednesday, September 3rd. They issued a "peer perform" rating for the company. Finally, Wells Fargo & Company lowered their price objective on Gartner from $345.00 to $225.00 and set an "underweight" rating on the stock in a research note on Wednesday, August 6th. Five investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $351.20.

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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