Pure Financial Advisors LLC Buys Shares of 2,248 Gartner, Inc. $IT

Key Points

• Pure Financial Advisors LLC purchased 2,248 shares of Gartner, Inc., valued at approximately $909,000, indicating increasing institutional interest in the company's stock.
• Gartner reported $3.53 earnings per share (EPS) for the last quarter, surpassing analysts' expectations, but its revenue of $1.66 billion fell short of projections.
• Several research firms have reduced their price targets for Gartner, with UBS Group lowering it from $480.00 to $270.00, reflecting a more cautious outlook for the stock.

Pure Financial Advisors LLC bought a new stake in shares of Gartner, Inc. (NYSE:IT - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund bought 2,248 shares of the information technology services provider's stock, valued at approximately $909,000.

Several other large investors also recently added to or reduced their stakes in the company. Impact Capital Partners LLC raised its stake in Gartner by 6.1% during the 2nd quarter. Impact Capital Partners LLC now owns 713 shares of the information technology services provider's stock valued at $288,000 after purchasing an additional 41 shares during the period. Union Bancaire Privee UBP SA acquired a new stake in Gartner during the 2nd quarter valued at $427,000. Greenleaf Trust raised its stake in Gartner by 6.4% during the 2nd quarter. Greenleaf Trust now owns 1,706 shares of the information technology services provider's stock valued at $690,000 after purchasing an additional 102 shares during the period. Janney Montgomery Scott LLC raised its stake in Gartner by 2.3% during the 2nd quarter. Janney Montgomery Scott LLC now owns 9,717 shares of the information technology services provider's stock valued at $3,928,000 after purchasing an additional 217 shares during the period. Finally, GC Wealth Management RIA LLC acquired a new stake in Gartner during the 2nd quarter valued at $327,000. 91.51% of the stock is owned by institutional investors and hedge funds.

Gartner Trading Up 2.8%

Gartner stock opened at $258.05 on Friday. The company has a debt-to-equity ratio of 1.61, a current ratio of 1.11 and a quick ratio of 1.11. The company has a market capitalization of $19.54 billion, a price-to-earnings ratio of 15.88 and a beta of 1.20. Gartner, Inc. has a one year low of $223.65 and a one year high of $584.01. The company's fifty day moving average price is $260.62 and its two-hundred day moving average price is $359.10.

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. Gartner had a net margin of 19.71% and a return on equity of 82.63%. The company had revenue of $1.66 billion during the quarter, compared to analysts' expectations of $1.68 billion. During the same period in the prior year, the company earned $3.22 earnings per share. The business'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. On average, analysts forecast that Gartner, Inc. will post 12.5 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on IT. UBS Group reaffirmed a "neutral" rating and issued a $270.00 price target (down from $480.00) on shares of Gartner in a research note on Wednesday, August 6th. Wells Fargo & Company dropped their price target 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. Wolfe Research began coverage on shares of Gartner in a research note on Wednesday, September 3rd. They issued a "peer perform" rating on the stock. The Goldman Sachs Group dropped 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. Finally, Morgan Stanley dropped their price target on shares of Gartner from $455.00 to $322.00 and set an "equal weight" rating on the stock in a research note on Wednesday, August 6th. Three research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $357.44.

Insider Transactions at Gartner

In other news, Director Jose M. Gutierrez purchased 417 shares of the firm's stock in a transaction on Monday, August 18th. The stock was bought at an average cost of $239.80 per share, for a total transaction of $99,996.60. Following the completion of the acquisition, the director directly owned 2,080 shares of the company's stock, valued at approximately $498,784. The trade was a 25.08% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP John J. Rinello sold 105 shares of the company's stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $249.71, for a total transaction of $26,219.55. Following the sale, the senior vice president owned 3,225 shares of the company's stock, valued at $805,314.75. This trade represents a 3.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.30% of the stock is owned by corporate insiders.

Gartner Company 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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