Gartner, Inc. $IT Shares Sold by Moran Wealth Management LLC

Key Points

• Moran Wealth Management LLC significantly reduced its holdings in Gartner, Inc. by 68.6% during the 2nd quarter, selling 18,660 shares and holding 8,537 shares worth approximately $3.45 million.
• Gartner reported $3.53 earnings per share for the last quarter, beating analysts' expectations, while revenue reached $1.66 billion, slightly below estimates.
• Several institutional investors, including Ransom Advisory Ltd and Bayforest Capital Ltd, have made recent investments in Gartner, with hedge funds and institutional investors owning 91.51% of the stock.

Moran Wealth Management LLC decreased its holdings in Gartner, Inc. (NYSE:IT - Free Report) by 68.6% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 8,537 shares of the information technology services provider's stock after selling 18,660 shares during the quarter. Moran Wealth Management LLC's holdings in Gartner were worth $3,451,000 as of its most recent filing with the SEC.

Other institutional investors also recently made changes to their positions in the company. Ransom Advisory Ltd purchased a new position in shares of Gartner in the 1st quarter valued at about $29,000. Olde Wealth Management LLC purchased a new stake in Gartner during the first quarter worth about $42,000. GW&K Investment Management LLC grew its position in Gartner by 210.8% during the first quarter. GW&K Investment Management LLC now owns 115 shares of the information technology services provider's stock worth $48,000 after buying an additional 78 shares during the period. Wayfinding Financial LLC purchased a new position in Gartner in the first quarter valued at about $55,000. Finally, Bayforest Capital Ltd increased its holdings in Gartner by 527.3% in the first quarter. Bayforest Capital Ltd now owns 138 shares of the information technology services provider's stock valued at $58,000 after buying an additional 116 shares in the last quarter. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Gartner Price Performance

NYSE:IT opened at $236.75 on Thursday. Gartner, Inc. has a 12-month low of $223.65 and a 12-month high of $584.01. The firm has a market cap of $17.93 billion, a price-to-earnings ratio of 14.57 and a beta of 1.20. The company's 50-day moving average is $247.04 and its two-hundred day moving average is $347.74. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 1.61.

Gartner (NYSE:IT - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The information technology services provider reported $3.53 earnings per share for the quarter, beating analysts' consensus estimates of $3.38 by $0.15. The business had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.68 billion. Gartner had a net margin of 19.71% and a return on equity of 82.63%. The company's revenue 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. Research analysts expect that Gartner, Inc. will post 12.5 EPS for the current year.

Insiders Place Their Bets

In other Gartner news, Director Jose M. Gutierrez acquired 417 shares of the firm's stock in a transaction dated Monday, August 18th. The shares were acquired at an average price of $239.80 per share, for a total transaction of $99,996.60. Following the completion of the acquisition, the director directly owned 2,080 shares of the company's stock, valued at $498,784. This trade represents a 25.08% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at 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 completion of the sale, the senior vice president directly owned 3,225 shares of the company's stock, valued at approximately $805,314.75. This represents a 3.15% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.30% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. UBS Group boosted their price target on Gartner from $270.00 to $280.00 and gave the stock a "neutral" rating in a research note on Monday, October 6th. Royal Bank Of Canada started coverage on Gartner in a research report on Tuesday, September 9th. They set a "sector perform" rating and a $263.00 target price on the stock. Wells Fargo & Company dropped their price target on Gartner from $345.00 to $225.00 and set an "underweight" rating for the company in a research report on Wednesday, August 6th. Barclays cut their price target on Gartner from $475.00 to $320.00 and set an "overweight" rating for the company in a research note on Wednesday, August 6th. Finally, The Goldman Sachs Group lowered their price objective on shares of Gartner from $535.00 to $457.00 and set a "buy" rating on the stock in a research note on Wednesday, August 6th. Three research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $356.89.

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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