Gartner, Inc. $IT Shares Sold by Truist Financial Corp

Key Points

• Truist Financial Corp has reduced its holdings in Gartner, Inc. by 10.2%, owning 11,674 shares valued at approximately $4.72 million after selling 1,329 shares in the second quarter.
• Gartner's stock is down 4.2% and currently trades at $245.57, with a market cap of $18.60 billion and a one-year high of $584.01.
• Gartner reported earnings of $3.53 per share, exceeding analyst expectations, and its revenue for the quarter was $1.66 billion, slightly below analyst estimates.

Truist Financial Corp lessened its holdings in shares of Gartner, Inc. (NYSE:IT - Free Report) by 10.2% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 11,674 shares of the information technology services provider's stock after selling 1,329 shares during the quarter. Truist Financial Corp's holdings in Gartner were worth $4,719,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Ransom Advisory Ltd acquired a new position in shares of Gartner in the first quarter valued at approximately $29,000. Olde Wealth Management LLC purchased a new position in Gartner in the 1st quarter valued at approximately $42,000. GW&K Investment Management LLC increased its position in shares of 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 acquiring an additional 78 shares during the period. Wayfinding Financial LLC purchased a new stake in shares of Gartner during the first quarter worth $55,000. Finally, Bayforest Capital Ltd raised its stake in shares of 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 acquiring an additional 116 shares in the last quarter. Hedge funds and other institutional investors own 91.51% of the company's stock.

Gartner Stock Down 4.2%

Shares of Gartner stock opened at $245.57 on Wednesday. The company has a market cap of $18.60 billion, a P/E ratio of 15.11 and a beta of 1.20. The firm has a fifty day moving average of $254.62 and a two-hundred day moving average of $354.77. 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 one year low of $223.65 and a one year high of $584.01.

Gartner (NYSE:IT - Get Free Report) last issued its quarterly 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 for 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 business's revenue was up 5.7% compared to the same quarter last year. During the same period in the previous year, the business posted $3.22 earnings per share. Gartner has set its FY 2025 guidance at 11.750- EPS. On average, analysts forecast that Gartner, Inc. will post 12.5 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. BMO Capital Markets lowered their target price on Gartner from $409.00 to $272.00 and set a "market perform" rating for the company in a research note on Wednesday, August 6th. Wells Fargo & Company lowered their price objective on Gartner from $345.00 to $225.00 and set an "underweight" rating for the company in a research report on Wednesday, August 6th. Wolfe Research began coverage on shares of Gartner in a research note on Wednesday, September 3rd. They set a "peer perform" rating on the stock. Morgan Stanley decreased their price target on shares of Gartner from $455.00 to $322.00 and set an "equal weight" rating for the company in a research note on Wednesday, August 6th. Finally, Barclays dropped their price objective on shares of Gartner from $475.00 to $320.00 and set an "overweight" rating on the stock in a research report on Wednesday, August 6th. Three equities research 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. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $358.56.

Insider Buying and Selling

In related news, SVP John J. Rinello sold 105 shares of the company's stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $249.71, for a total transaction of $26,219.55. Following the transaction, the senior vice president owned 3,225 shares of the company's stock, valued at $805,314.75. This represents a 3.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Jose M. Gutierrez acquired 417 shares of the business's stock in a transaction on Monday, August 18th. The stock was acquired at an average price of $239.80 per share, with a total value of $99,996.60. Following the transaction, the director directly owned 2,080 shares of the company's stock, valued at $498,784. This represents a 25.08% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 3.60% of the company's stock.

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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