Graham Capital Management L.P. Lowers Holdings in Gartner, Inc. $IT

Key Points

• Graham Capital Management L.P. reduced its stake in Gartner, Inc. by 51.8% in Q1, lowering its ownership to 4,140 shares worth approximately $1,738,000.
• Several hedge funds increased their holdings in Gartner, with T. Rowe Price showing the most significant growth of 692.2% during the same period.
• Gartner's recent earnings report showed EPS of $3.53, exceeding estimates, with a 5.7% year-over-year revenue increase, despite reporting lower revenue than expected.

Graham Capital Management L.P. lowered its position in Gartner, Inc. (NYSE:IT - Free Report) by 51.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,140 shares of the information technology services provider's stock after selling 4,450 shares during the quarter. Graham Capital Management L.P.'s holdings in Gartner were worth $1,738,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. Cornerstone Advisory LLC boosted its stake in Gartner by 0.8% during the fourth quarter. Cornerstone Advisory LLC now owns 2,803 shares of the information technology services provider's stock worth $1,443,000 after buying an additional 21 shares during the period. Connecticut Wealth Management LLC boosted its stake in Gartner by 0.6% during the fourth quarter. Connecticut Wealth Management LLC now owns 4,604 shares of the information technology services provider's stock worth $2,230,000 after buying an additional 26 shares during the period. Applied Finance Capital Management LLC boosted its stake in Gartner by 1.5% during the first quarter. Applied Finance Capital Management LLC now owns 1,945 shares of the information technology services provider's stock worth $816,000 after buying an additional 29 shares during the period. Allworth Financial LP boosted its stake in Gartner by 5.6% during the first quarter. Allworth Financial LP now owns 562 shares of the information technology services provider's stock worth $235,000 after buying an additional 30 shares during the period. Finally, Brighton Jones LLC boosted its stake in Gartner by 4.9% during the first quarter. Brighton Jones LLC now owns 668 shares of the information technology services provider's stock worth $280,000 after buying an additional 31 shares during the period. Hedge funds and other institutional investors own 91.51% of the company's stock.

Insider Buying and Selling

In other news, SVP John J. Rinello sold 105 shares of the firm's stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $249.71, for a total transaction of $26,219.55. Following the transaction, the senior vice president directly owned 3,225 shares in the company, valued at approximately $805,314.75. This trade represents a 3.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Jose M. Gutierrez bought 417 shares of the 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 transaction, the director owned 2,080 shares of the company's stock, valued at approximately $498,784. The trade was a 25.08% increase in their position. The disclosure for this purchase can be found here. Company insiders own 2.30% of the company's stock.

Gartner Stock Up 3.8%

IT stock traded up $9.06 during midday trading on Friday, reaching $245.79. 1,304,551 shares of the company were exchanged, compared to its average volume of 1,429,579. 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 stock's 50-day simple moving average is $308.20 and its 200 day simple moving average is $388.40. The company has a market cap of $18.62 billion, a price-to-earnings ratio of 15.13 and a beta of 1.20.

Gartner (NYSE:IT - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The information technology services provider reported $3.53 earnings per share for the quarter, topping analysts' consensus estimates of $3.38 by $0.15. Gartner had a net margin of 19.71% and a return on equity of 82.63%. The company had revenue of $1.66 billion for the quarter, compared to analysts' expectations of $1.68 billion. During the same quarter last year, the company earned $3.22 earnings per share. The firm's revenue for the quarter was up 5.7% on a year-over-year basis. Gartner has set its FY 2025 guidance at 11.750- EPS. On average, equities analysts forecast that Gartner, Inc. will post 12.5 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on IT shares. Wells Fargo & Company reduced their price target on shares of Gartner from $345.00 to $225.00 and set an "underweight" rating on the stock in a research report on Wednesday, August 6th. The Goldman Sachs Group reduced their price target on shares of Gartner from $535.00 to $457.00 and set a "buy" rating on the stock in a research report on Wednesday, August 6th. BMO Capital Markets reduced their price target on shares of Gartner from $409.00 to $272.00 and set a "market perform" rating on the stock in a research report on Wednesday, August 6th. 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, Wolfe Research assumed coverage on shares of Gartner in a research report on Wednesday. They set a "peer perform" rating on the stock. Three analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $369.25.

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.