Gartner, Inc. $IT Shares Sold by Blair William & Co. IL

Key Points

• Blair William & Co. IL reduced its holdings in Gartner, Inc. by 3.2%, now owning approximately $16 million worth of shares.
• Research analysts have been downgrading their price targets for Gartner, with Wells Fargo lowering it from $345 to $225, indicating a shift in market sentiment.
• Gartner's latest earnings report showed an EPS of $3.53, which exceeded estimates, but total revenue was slightly below expectations at $1.66 billion.

Blair William & Co. IL trimmed its holdings in Gartner, Inc. (NYSE:IT - Free Report) by 3.2% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 39,584 shares of the information technology services provider's stock after selling 1,322 shares during the period. Blair William & Co. IL owned about 0.05% of Gartner worth $16,000,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Brighton Jones LLC bought a new position in Gartner during the 4th quarter valued at $309,000. Park Avenue Securities LLC lifted its position in shares of Gartner by 13.1% during the first quarter. Park Avenue Securities LLC now owns 1,427 shares of the information technology services provider's stock worth $599,000 after purchasing an additional 165 shares during the last quarter. Harbor Capital Advisors Inc. lifted its position in shares of Gartner by 81.6% during the first quarter. Harbor Capital Advisors Inc. now owns 1,665 shares of the information technology services provider's stock worth $699,000 after purchasing an additional 748 shares during the last quarter. Handelsbanken Fonder AB grew its stake in Gartner by 0.9% in the first quarter. Handelsbanken Fonder AB now owns 20,844 shares of the information technology services provider's stock worth $8,749,000 after purchasing an additional 192 shares in the last quarter. Finally, Fifth Third Bancorp increased its holdings in Gartner by 15.0% in the first quarter. Fifth Third Bancorp now owns 2,633 shares of the information technology services provider's stock valued at $1,105,000 after buying an additional 344 shares during the last quarter. Institutional investors and hedge funds own 91.51% of the company's stock.

Analyst Ratings Changes

A number of research analysts have commented on the company. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Gartner in a report on Wednesday. Wells Fargo & Company decreased their price objective on shares of Gartner from $345.00 to $225.00 and set an "underweight" rating for the company in a report on Wednesday, August 6th. Royal Bank Of Canada began coverage on shares of Gartner in a research note on Tuesday, September 9th. They set a "sector perform" rating and a $263.00 target price for the company. Morgan Stanley reduced their price target on shares of Gartner from $455.00 to $322.00 and set an "equal weight" rating on the stock in a research report on Wednesday, August 6th. Finally, Barclays lowered their price objective on shares of Gartner from $475.00 to $320.00 and set an "overweight" rating for the company in a research report on Wednesday, August 6th. Three investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $358.56.

Insider Activity at Gartner

In related news, SVP John J. Rinello sold 105 shares of the 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 represents a 3.15% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Jose M. Gutierrez bought 417 shares of the stock in a transaction that occurred 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 completion of the transaction, the director owned 2,080 shares in the company, valued at $498,784. This trade represents a 25.08% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 2.30% of the company's stock.

Gartner Stock Performance

Shares of IT opened at $239.66 on Friday. The firm has a fifty day moving average of $248.97 and a 200-day moving average of $351.47. The company has a market cap of $18.15 billion, a price-to-earnings ratio of 14.75 and a beta of 1.20. 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.

Gartner (NYSE:IT - Get Free Report) last issued its quarterly earnings data 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 firm had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $1.68 billion. Gartner had a net margin of 19.71% and a return on equity of 82.63%. Gartner's quarterly revenue was up 5.7% compared to the same quarter last year. During the same period last year, the firm posted $3.22 EPS. Gartner has set its FY 2025 guidance at 11.750- EPS. As a group, equities 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.

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