Exchange Traded Concepts LLC Has $3.96 Million Stock Position in Gartner, Inc. $IT

Key Points

• Exchange Traded Concepts LLC increased its holdings in Gartner, Inc. by 15.8% during the second quarter, now owning 9,791 shares valued at approximately $3.96 million.
• Gartner reported $3.53 EPS for the quarter, surpassing analysts' expectations of $3.38, while its quarterly revenue was $1.66 billion, slightly below expectations.
• Recent analyst recommendations have seen price targets for Gartner adjusted, with Wells Fargo lowering its target to $225.00 and Morgan Stanley to $322.00, indicating a more cautious outlook for the stock.

Exchange Traded Concepts LLC increased its position in Gartner, Inc. (NYSE:IT - Free Report) by 15.8% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 9,791 shares of the information technology services provider's stock after purchasing an additional 1,336 shares during the quarter. Exchange Traded Concepts LLC's holdings in Gartner were worth $3,958,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the company. Applied Finance Capital Management LLC boosted its stake in Gartner by 1.5% in the 1st quarter. Applied Finance Capital Management LLC now owns 1,945 shares of the information technology services provider's stock valued at $816,000 after purchasing an additional 29 shares during the period. Allworth Financial LP boosted its position in shares of Gartner by 5.6% in the first quarter. Allworth Financial LP now owns 562 shares of the information technology services provider's stock valued at $235,000 after acquiring an additional 30 shares during the period. Brighton Jones LLC grew its stake in shares of Gartner by 4.9% in the first quarter. Brighton Jones LLC now owns 668 shares of the information technology services provider's stock valued at $280,000 after acquiring an additional 31 shares in the last quarter. Siemens Fonds Invest GmbH grew its stake in shares of Gartner by 4.0% in the fourth quarter. Siemens Fonds Invest GmbH now owns 854 shares of the information technology services provider's stock valued at $415,000 after acquiring an additional 33 shares in the last quarter. Finally, Resonant Capital Advisors LLC increased its position in Gartner by 1.6% during the first quarter. Resonant Capital Advisors LLC now owns 2,324 shares of the information technology services provider's stock worth $975,000 after acquiring an additional 36 shares during the period. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Jose M. Gutierrez acquired 417 shares of the business's stock in a transaction that occurred on Monday, August 18th. The shares were bought at an average price of $239.80 per share, with a total value of $99,996.60. Following the acquisition, the director directly owned 2,080 shares in the company, valued at $498,784. The trade was a 25.08% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP John J. Rinello sold 105 shares of the company's stock in a transaction dated Friday, August 22nd. The stock was 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 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. Company insiders own 3.60% of the company's stock.

Wall Street Analysts Forecast Growth

IT has been the topic of several recent research reports. Royal Bank Of Canada initiated coverage on shares of Gartner in a report on Tuesday, September 9th. They set a "sector perform" rating and a $263.00 target price on the stock. Morgan Stanley lowered their price objective on Gartner from $455.00 to $322.00 and set an "equal weight" rating on the stock in a research note on Wednesday, August 6th. The Goldman Sachs Group cut 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. Wells Fargo & Company decreased their price target on Gartner from $345.00 to $225.00 and set an "underweight" rating on the stock in a research report on Wednesday, August 6th. Finally, Wolfe Research initiated coverage on Gartner in a research note on Wednesday, September 3rd. They issued a "peer perform" rating for the company. Three investment 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. According to MarketBeat, Gartner currently has an average rating of "Hold" and a consensus price target of $357.44.

Gartner Price Performance

Shares of Gartner stock traded up $4.30 during trading on Monday, reaching $260.69. 1,762,923 shares of the company's stock were exchanged, compared to its average volume of 914,214. The company has a debt-to-equity ratio of 1.61, a quick ratio of 1.11 and a current ratio of 1.11. Gartner, Inc. has a 1-year low of $223.65 and a 1-year high of $584.01. The company has a market cap of $19.74 billion, a P/E ratio of 16.04 and a beta of 1.20. The firm's 50-day moving average price is $278.51 and its 200 day moving average price is $370.48.

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 (EPS) for the quarter, beating analysts' consensus estimates of $3.38 by $0.15. The firm had revenue of $1.66 billion for the quarter, compared to analysts' expectations of $1.68 billion. Gartner had a return on equity of 82.63% and a net margin of 19.71%.The business's revenue for the quarter was up 5.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.22 earnings per share. Gartner has set its FY 2025 guidance at 11.750- EPS. As a group, research analysts anticipate that Gartner, Inc. will post 12.5 earnings per share for the current year.

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.