HighTower Advisors LLC Has $22 Million Stake in Gartner, Inc. $IT

Key Points

• HighTower Advisors increased its Gartner stake by 23.4% in the second quarter, holding 169,707 shares valued at approximately $22 million. Institutional investors collectively own 91.51% of Gartner.
• Gartner exceeded quarterly expectations with earnings of $4.37 per share versus the $3.76 consensus and revenue of $1.68 billion, although revenue declined 0.6% year over year.
• Analyst sentiment remains mixed, with Gartner carrying a consensus “Hold” rating and an average price target of $187.30; insiders have sold more than 6,000 shares worth approximately $1.17 million over the past 90 days.

HighTower Advisors LLC lifted its stake in shares of Gartner, Inc. (NYSE:IT - Free Report) by 23.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 169,707 shares of the information technology services provider's stock after purchasing an additional 32,234 shares during the quarter. HighTower Advisors LLC owned 0.27% of Gartner worth $21,997,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of IT. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of Gartner in the second quarter valued at approximately $1,685,000. California State Teachers Retirement System raised its stake in shares of Gartner by 9,136.9% during the second quarter. California State Teachers Retirement System now owns 9,852,805 shares of the information technology services provider's stock valued at $1,277,121,000 after acquiring an additional 9,746,137 shares during the last quarter. Paralel Advisors LLC acquired a new position in shares of Gartner during the second quarter worth $1,895,000. Angeles Wealth Management LLC increased its holdings in Gartner by 47.4% in the second quarter. Angeles Wealth Management LLC now owns 2,020 shares of the information technology services provider's stock valued at $262,000 after purchasing an additional 650 shares during the period. Finally, AlphaGrep UK Ltd acquired a new position in Gartner during the 2nd quarter worth about $707,000. Institutional investors own 91.51% of the company's stock.

Insider Buying and Selling at Gartner

In other news, EVP Akhil Jain sold 700 shares of the stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $201.73, for a total value of $141,211.00. Following the sale, the executive vice president directly owned 8,130 shares of the company's stock, valued at approximately $1,640,064.90. This represents a 7.93% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Anne Fuchs sold 860 shares of the stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $184.30, for a total transaction of $158,498.00. Following the completion of the sale, the director owned 8,097 shares in the company, valued at $1,492,277.10. This represents a 9.60% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 6,043 shares of company stock valued at $1,172,858. 2.60% of the stock is owned by corporate insiders.

Gartner Stock Down 7.4%

IT stock opened at $172.58 on Wednesday. The stock has a market cap of $10.90 billion, a P/E ratio of 15.48, a P/E/G ratio of 0.65 and a beta of 0.96. Gartner, Inc. has a 1-year low of $124.25 and a 1-year high of $265.85. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 46.98. The stock's fifty day simple moving average is $165.89 and its two-hundred day simple moving average is $157.69.

Gartner (NYSE:IT - Get Free Report) last released its earnings results on Tuesday, August 4th. The information technology services provider reported $4.37 earnings per share for the quarter, beating analysts' consensus estimates of $3.76 by $0.61. Gartner had a net margin of 11.99% and a return on equity of 525.46%. The firm had revenue of $1.68 billion for the quarter, compared to analysts' expectations of $1.65 billion. During the same period in the previous year, the company earned $3.53 earnings per share. The company's quarterly revenue was down .6% on a year-over-year basis. Gartner has set its FY 2026 guidance at 14.000- EPS. Analysts expect that Gartner, Inc. will post 14.39 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. The Goldman Sachs Group lifted their target price on shares of Gartner from $162.00 to $181.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 5th. BMO Capital Markets lowered their target price on Gartner from $214.00 to $206.00 and set a "market perform" rating for the company in a report on Tuesday, August 18th. Truist Financial set a $205.00 price objective on shares of Gartner in a research note on Wednesday, August 5th. Weiss Ratings upgraded shares of Gartner from a "sell (d)" rating to a "sell (d+)" rating in a report on Thursday, August 13th. Finally, Wells Fargo & Company raised their price objective on Gartner from $120.00 to $150.00 and gave the company an "underweight" rating in a research note on Wednesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, six have given a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $187.30.

Gartner Company Profile

Gartner, Inc is a global research and advisory firm that provides insights, advice and tools for leaders in IT, finance, HR, customer service and other business functions. Founded in 1979 and headquartered in Stamford, Connecticut, Gartner specializes in helping organizations make informed decisions about technology, operations and strategy through a combination of published research, advisory services, consulting, executive programs and events.

The company's offerings include proprietary research reports, market forecasts, and analytical frameworks that are widely used by technology buyers and vendors.

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