Gartner, Inc. $IT Shares Sold by Allspring Global Investments Holdings LLC

Key Points

• Allspring Global Investments Holdings LLC reduced its holdings in Gartner, Inc. by 73.6% in the 2nd quarter, leaving the firm with approximately 0.07% ownership of Gartner worth $22.3 million.
• Institutional investors collectively own 91.51% of Gartner's stock, indicating high institutional interest in the company, with various firms adjusting their positions recently.
• Gartner reported an earnings per share (EPS) of $3.53 for the last quarter, surpassing analysts' estimates, and provided a full-year EPS guidance of 11.750 for FY 2025.

Allspring Global Investments Holdings LLC reduced its holdings in shares of Gartner, Inc. (NYSE:IT - Free Report) by 73.6% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 54,852 shares of the information technology services provider's stock after selling 152,665 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.07% of Gartner worth $22,308,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Ransom Advisory Ltd acquired a new position in shares of Gartner during the 1st quarter worth about $29,000. Olde Wealth Management LLC acquired a new position in shares of Gartner during the 1st quarter worth about $42,000. GW&K Investment Management LLC boosted its position in shares of 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 worth $48,000 after acquiring an additional 78 shares in the last quarter. Wayfinding Financial LLC acquired a new stake in shares of Gartner in the 1st quarter valued at about $55,000. Finally, Bayforest Capital Ltd boosted its position in shares of Gartner by 527.3% in 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 period. 91.51% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Gartner

In related news, SVP John J. Rinello sold 105 shares of the firm's stock in a transaction that occurred on 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 $805,314.75. This trade represents a 3.15% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Jose M. Gutierrez acquired 417 shares of the company's stock in a transaction that occurred on Monday, August 18th. The stock was purchased at an average cost of $239.80 per share, with a total value of $99,996.60. Following the completion of the purchase, the director directly owned 2,080 shares in the company, valued at $498,784. This represents a 25.08% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 2.30% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on IT. Royal Bank Of Canada began coverage on Gartner in a research report on Tuesday, September 9th. They issued a "sector perform" rating and a $263.00 target price for the company. Weiss Ratings reissued a "hold (c-)" rating on shares of Gartner in a research report on Wednesday, October 8th. Wolfe Research began coverage on Gartner in a research report on Wednesday, September 3rd. They issued a "peer perform" rating for the company. Morgan Stanley set a $307.00 target price on Gartner in a research report on Monday. Finally, Barclays decreased their target price on Gartner from $475.00 to $320.00 and set an "overweight" rating for the company in a research report on Wednesday, August 6th. Four research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $351.20.

Gartner Stock Down 0.4%

IT opened at $235.87 on Friday. The business has a 50 day moving average price of $247.17 and a two-hundred day moving average price of $346.47. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 1.61. The company has a market cap of $17.86 billion, a PE ratio of 14.52 and a beta of 1.20. Gartner, Inc. has a 52 week low of $223.65 and a 52 week high of $584.01.

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, topping 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 revenue for the quarter was up 5.7% on a year-over-year basis. During the same period in the prior year, the business posted $3.22 EPS. Gartner has set its FY 2025 guidance at 11.750- EPS. As a group, research analysts anticipate that Gartner, Inc. will post 12.5 EPS for the current 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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