Oppenheimer Asset Management Inc. Purchases Shares of 22,158 Gartner, Inc. $IT

Key Points

• Oppenheimer Asset Management initiated a Gartner position by purchasing 22,158 shares worth approximately $2.87 million in the second quarter. Institutional investors collectively own 91.51% of the company.
• Gartner reported quarterly adjusted earnings of $4.37 per share, beating the $3.76 consensus estimate, while revenue reached $1.68 billion. Revenue declined 0.6% year over year.
• Analyst sentiment remains mixed, with a consensus rating of “Hold” and an average price target of $185.50; Gartner shares opened at $181.06, down 1.2%.

Oppenheimer Asset Management Inc. purchased a new position in Gartner, Inc. (NYSE:IT - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 22,158 shares of the information technology services provider's stock, valued at approximately $2,872,000.

A number of other large investors have also recently made changes to their positions in IT. Wedge Capital Management L L P NC raised its stake in Gartner by 34.1% during the 2nd quarter. Wedge Capital Management L L P NC now owns 54,196 shares of the information technology services provider's stock worth $7,025,000 after acquiring an additional 13,776 shares during the period. Tema ETFs LLC boosted its position in shares of Gartner by 10.4% in the second quarter. Tema ETFs LLC now owns 1,541 shares of the information technology services provider's stock worth $200,000 after purchasing an additional 145 shares during the period. Assenagon Asset Management S.A. boosted its position in shares of Gartner by 76.0% in the second quarter. Assenagon Asset Management S.A. now owns 70,348 shares of the information technology services provider's stock worth $9,119,000 after purchasing an additional 30,385 shares during the period. Arlington Partners LLC increased its stake in shares of Gartner by 22.6% in the second quarter. Arlington Partners LLC now owns 1,850 shares of the information technology services provider's stock worth $240,000 after purchasing an additional 341 shares in the last quarter. Finally, Basecamp Wealth Advisors LLC increased its stake in shares of Gartner by 107.0% in the first quarter. Basecamp Wealth Advisors LLC now owns 236 shares of the information technology services provider's stock worth $37,000 after purchasing an additional 122 shares in the last quarter. 91.51% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Gartner

In other news, EVP Yvonne Genovese sold 1,205 shares of Gartner stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $190.06, for a total value of $229,022.30. Following the completion of the transaction, the executive vice president owned 6,208 shares in the company, valued at approximately $1,179,892.48. The trade was a 16.26% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Anne Sutherland Fuchs sold 860 shares of the business's stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $184.30, for a total value of $158,498.00. Following the transaction, the director directly owned 8,097 shares in the company, valued at approximately $1,492,277.10. This represents a 9.60% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 2.60% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

IT has been the subject of several recent analyst reports. Truist Financial set a $205.00 target price on shares of Gartner in a report on Wednesday, August 5th. Weiss Ratings cut Gartner from a "sell (d+)" rating to a "sell (d)" rating in a report on Friday, July 31st. Morgan Stanley set a $177.00 price objective on Gartner in a research report on Wednesday, August 5th. Zacks Research raised Gartner from a "hold" rating to a "strong-buy" rating in a research note on Thursday, August 6th. Finally, The Goldman Sachs Group increased their target price on Gartner from $162.00 to $181.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $185.50.

Gartner Stock Down 1.2%

Shares of NYSE IT opened at $181.06 on Friday. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 46.98. Gartner, Inc. has a 12-month low of $124.25 and a 12-month high of $265.85. The firm's 50-day moving average price is $148.05 and its 200-day moving average price is $156.36. The stock has a market capitalization of $11.43 billion, a price-to-earnings ratio of 16.24, a P/E/G ratio of 0.60 and a beta of 0.94.

Gartner (NYSE:IT - Get Free Report) last released its quarterly earnings results on Tuesday, August 4th. The information technology services provider reported $4.37 EPS for the quarter, topping the consensus estimate of $3.76 by $0.61. Gartner had a return on equity of 525.46% and a net margin of 11.99%.The company had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.65 billion. During the same quarter last year, the business posted $3.53 earnings per share. The firm's revenue was down .6% on a year-over-year basis. Gartner has set its FY 2026 guidance at 14.000- EPS. On average, equities research analysts anticipate that Gartner, Inc. will post 14.44 EPS for the current fiscal year.

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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