Paralel Advisors LLC purchased a new position in Gartner, Inc. (NYSE:IT - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 14,619 shares of the information technology services provider's stock, valued at approximately $1,895,000.
Several other large investors also recently added to or reduced their stakes in IT. Cresset Asset Management LLC grew its stake in Gartner by 3.3% in the 3rd quarter. Cresset Asset Management LLC now owns 1,493 shares of the information technology services provider's stock worth $392,000 after acquiring an additional 47 shares in the last quarter. Horizon Investments LLC raised its stake in shares of Gartner by 4.3% during the fourth quarter. Horizon Investments LLC now owns 1,237 shares of the information technology services provider's stock valued at $312,000 after acquiring an additional 51 shares in the last quarter. Brown Brothers Harriman & Co. boosted its holdings in shares of Gartner by 5.8% in the third quarter. Brown Brothers Harriman & Co. now owns 1,019 shares of the information technology services provider's stock valued at $268,000 after purchasing an additional 56 shares during the period. Valeo Financial Advisors LLC grew its stake in Gartner by 8.8% in the fourth quarter. Valeo Financial Advisors LLC now owns 839 shares of the information technology services provider's stock worth $212,000 after purchasing an additional 68 shares in the last quarter. Finally, Mufg Securities Americas Inc. grew its stake in Gartner by 3.5% in the second quarter. Mufg Securities Americas Inc. now owns 2,017 shares of the information technology services provider's stock worth $261,000 after purchasing an additional 68 shares in the last quarter. 91.51% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several research firms have commented on IT. UBS Group raised their price objective on Gartner from $164.00 to $196.00 and gave the stock a "neutral" rating in a report on Wednesday, August 5th. The Goldman Sachs Group increased their price target on Gartner from $162.00 to $181.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 5th. Zacks Research upgraded Gartner from a "hold" rating to a "strong-buy" rating in a research note on Thursday, August 6th. BMO Capital Markets decreased their price objective on Gartner from $214.00 to $206.00 and set a "market perform" rating for the company in a report on Tuesday, August 18th. Finally, Truist Financial set a $205.00 price objective on shares of Gartner in a research note on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $187.30.
Check Out Our Latest Stock Report on Gartner
Insider Buying and Selling
In other Gartner 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 transaction of $141,211.00. Following the completion of 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 transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Anne Fuchs sold 860 shares of the firm's stock in a transaction dated Friday, August 7th. The shares were 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 disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 6,043 shares of company stock valued at $1,172,858. Company insiders own 2.60% of the company's stock.
Gartner Stock Performance
Shares of IT stock opened at $186.19 on Monday. The firm has a market cap of $11.76 billion, a price-to-earnings ratio of 16.70, a PEG ratio of 0.65 and a beta of 0.96. Gartner, Inc. has a 52-week low of $124.25 and a 52-week high of $265.85. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 46.98. The company's 50 day moving average is $163.98 and its 200 day moving average is $157.40.
Gartner (NYSE:IT - Get Free Report) last posted its earnings results on Tuesday, August 4th. The information technology services provider reported $4.37 earnings per share for the quarter, topping analysts' consensus estimates 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 in the prior year, the business earned $3.53 earnings per share. Gartner's revenue was down .6% on a year-over-year basis. Gartner has set its FY 2026 guidance at 14.000- EPS. On average, sell-side analysts anticipate that Gartner, Inc. will post 14.39 EPS for the current fiscal year.
Gartner Profile
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Free Report)
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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