Jump Financial LLC Boosts Stake in Gartner, Inc. $IT

Key Points

• Jump Financial LLC increased its stake in Gartner, Inc. by 266.2% during the first quarter, owning 5,295 shares valued at approximately $2.2 million as of the end of that quarter.
• Several institutional investors, including Cornerstone Advisory LLC and Connecticut Wealth Management LLC, have also increased their positions in Gartner, with institutional ownership now at 91.51%.
• Gartner reported $3.53 EPS for the last quarter, exceeding expectations of $3.38, and set its FY 2025 guidance at 11.750 EPS.

Jump Financial LLC grew its stake in shares of Gartner, Inc. (NYSE:IT - Free Report) by 266.2% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,295 shares of the information technology services provider's stock after buying an additional 3,849 shares during the quarter. Jump Financial LLC's holdings in Gartner were worth $2,223,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Cornerstone Advisory LLC raised its position in shares of Gartner by 0.8% during the 4th quarter. Cornerstone Advisory LLC now owns 2,803 shares of the information technology services provider's stock valued at $1,443,000 after buying an additional 21 shares in the last quarter. Connecticut Wealth Management LLC raised its position in shares of Gartner by 0.6% during the 4th quarter. Connecticut Wealth Management LLC now owns 4,604 shares of the information technology services provider's stock valued at $2,230,000 after buying an additional 26 shares in the last quarter. Keel Point LLC grew its holdings in shares of Gartner by 5.5% during the 4th quarter. Keel Point LLC now owns 514 shares of the information technology services provider's stock valued at $249,000 after purchasing an additional 27 shares during the last quarter. Applied Finance Capital Management LLC grew its holdings in shares of Gartner by 1.5% during the 1st quarter. Applied Finance Capital Management LLC now owns 1,945 shares of the information technology services provider's stock valued at $816,000 after purchasing an additional 29 shares during the last quarter. Finally, Allworth Financial LP grew its holdings in shares of Gartner by 5.6% during the 1st quarter. Allworth Financial LP now owns 562 shares of the information technology services provider's stock valued at $235,000 after purchasing an additional 30 shares during the last quarter. Hedge funds and other institutional investors own 91.51% of the company's stock.

Insider Activity

In related news, Director Jose M. Gutierrez bought 417 shares of the company's stock in a transaction dated Monday, August 18th. The stock was purchased at an average cost of $239.80 per share, with a total value of $99,996.60. Following the transaction, the director owned 2,080 shares in the company, valued at approximately $498,784. This trade represents a 25.08% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP John J. Rinello sold 105 shares of the firm's stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $249.71, for a total transaction 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 ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.30% of the company's stock.

Gartner Price Performance

Shares of Gartner stock opened at $246.20 on Thursday. The firm has a market cap of $18.65 billion, a PE ratio of 15.15 and a beta of 1.19. Gartner, Inc. has a 12-month low of $223.65 and a 12-month high of $584.01. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 1.61. The company's fifty day simple moving average is $329.61 and its two-hundred day simple moving average is $402.36.

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

Wall Street Analyst Weigh In

IT has been the topic of several recent research reports. UBS Group reaffirmed a "neutral" rating and set a $270.00 target price (down previously from $480.00) on shares of Gartner in a report on Wednesday, August 6th. Barclays reduced their target price on shares of Gartner from $475.00 to $320.00 and set an "overweight" rating on the stock in a report on Wednesday, August 6th. BMO Capital Markets reduced their target price on shares of Gartner from $409.00 to $272.00 and set a "market perform" rating on the stock in a report on Wednesday, August 6th. Morgan Stanley reduced their target price on shares of Gartner from $455.00 to $322.00 and set an "equal weight" rating on the stock in a report on Wednesday, August 6th. Finally, Wells Fargo & Company reduced their target price on shares of Gartner from $345.00 to $225.00 and set an "underweight" rating on the stock in a report on Wednesday, August 6th. Three equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $369.25.

Gartner 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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