Gartner, Inc. $IT Shares Bought by Pallas Capital Advisors LLC

Key Points

• Pallas Capital Advisors LLC increased its holdings in Gartner, Inc. by 154.4%, acquiring an additional 2,091 shares in the 2nd quarter, raising their total to 3,445 shares valued at approximately $1.39 million.
• Insider activity includes SVP John J. Rinello selling 105 shares at $249.71, and Director Jose M. Gutierrez purchasing 417 shares at $239.80, reflecting differing trends in insider confidence.
• Analysts have adjusted Gartner's price targets downwards, with BMO Capital Markets lowering its target from $409 to $272, while the consensus rating remains a "Hold" with an average target of $357.44.

Pallas Capital Advisors LLC boosted its position in shares of Gartner, Inc. (NYSE:IT - Free Report) by 154.4% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,445 shares of the information technology services provider's stock after buying an additional 2,091 shares during the quarter. Pallas Capital Advisors LLC's holdings in Gartner were worth $1,393,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. DAVENPORT & Co LLC grew its position in shares of Gartner by 11.5% in the first quarter. DAVENPORT & Co LLC now owns 921 shares of the information technology services provider's stock valued at $387,000 after purchasing an additional 95 shares during the period. HighPoint Advisor Group LLC grew its position in shares of Gartner by 3.6% in the first quarter. HighPoint Advisor Group LLC now owns 1,145 shares of the information technology services provider's stock valued at $482,000 after purchasing an additional 40 shares during the period. Intech Investment Management LLC grew its position in shares of Gartner by 76.1% in the first quarter. Intech Investment Management LLC now owns 14,725 shares of the information technology services provider's stock valued at $6,181,000 after purchasing an additional 6,363 shares during the period. Dynamic Technology Lab Private Ltd grew its position in shares of Gartner by 94.9% in the first quarter. Dynamic Technology Lab Private Ltd now owns 2,670 shares of the information technology services provider's stock valued at $1,121,000 after purchasing an additional 1,300 shares during the period. Finally, Goldman Sachs Group Inc. grew its position in shares of Gartner by 9.4% in the first quarter. Goldman Sachs Group Inc. now owns 956,223 shares of the information technology services provider's stock valued at $401,365,000 after purchasing an additional 82,307 shares during the period. Institutional investors and hedge funds own 91.51% of the company's stock.

Insider Buying and Selling at Gartner

In other news, SVP John J. Rinello sold 105 shares of the company's stock in a transaction 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 of the company's stock, valued at $805,314.75. This represents a 3.15% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Jose M. Gutierrez acquired 417 shares of the stock in a transaction that occurred on Monday, August 18th. The stock was acquired at an average cost of $239.80 per share, for a total transaction of $99,996.60. Following the completion of the purchase, the director owned 2,080 shares in the company, valued at $498,784. The trade was a 25.08% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 2.30% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. UBS Group reiterated a "neutral" rating and issued a $270.00 target price (down previously from $480.00) on shares of Gartner in a research report on Wednesday, August 6th. The Goldman Sachs Group decreased their price target on shares of Gartner from $535.00 to $457.00 and set a "buy" rating on the stock in a research note on Wednesday, August 6th. Royal Bank Of Canada began coverage on shares of Gartner in a research note on Tuesday, September 9th. They issued a "sector perform" rating and a $263.00 price target on the stock. 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 research note on Wednesday, August 6th. Finally, 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 research note on Wednesday, August 6th. Three analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $357.44.

Gartner Trading Up 1.4%

Shares of Gartner stock traded up $3.53 on Friday, reaching $256.55. The company had a trading volume of 4,285,572 shares, compared to its average volume of 1,398,057. The firm's 50 day moving average price is $278.51 and its two-hundred day moving average price is $372.09. The firm has a market cap of $19.43 billion, a PE ratio of 15.79 and a beta of 1.20. Gartner, Inc. has a 52-week low of $223.65 and a 52-week high of $584.01. 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 (NYSE:IT - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The information technology services provider reported $3.53 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.38 by $0.15. The business had revenue of $1.66 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the previous year, the firm earned $3.22 EPS. Gartner has set its FY 2025 guidance at 11.750- EPS. Sell-side analysts predict that Gartner, Inc. will post 12.5 earnings per share for the current fiscal year.

About Gartner

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.