R Squared Ltd Acquires 3,990 Shares of Gartner, Inc. $IT

Key Points

• R Squared Ltd has increased its holdings in Gartner, Inc. by 295.6%, acquiring an additional 3,990 shares, making Gartner approximately 1.2% of its investment portfolio, valued at around $2,159,000.
• Gartner's stock has been given varying price targets by analysts, with Morgan Stanley at $307.00 and Wells Fargo reducing theirs to $225.00, amid a mix of ratings that include four "Buy", eight "Hold", and one "Sell".
• In the latest earnings report, Gartner surpassed analysts' EPS estimate with $3.53, and their revenue of $1.66 billion showed a 5.7% year-over-year increase.

R Squared Ltd increased its holdings in shares of Gartner, Inc. (NYSE:IT - Free Report) by 295.6% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,340 shares of the information technology services provider's stock after acquiring an additional 3,990 shares during the period. Gartner comprises about 1.2% of R Squared Ltd's investment portfolio, making the stock its 4th biggest position. R Squared Ltd's holdings in Gartner were worth $2,159,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Applied Finance Capital Management LLC lifted its position in 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 worth $816,000 after buying an additional 29 shares in the last quarter. Allworth Financial LP lifted its position in Gartner by 5.6% during the 1st quarter. Allworth Financial LP now owns 562 shares of the information technology services provider's stock worth $235,000 after buying an additional 30 shares in the last quarter. Sequoia Financial Advisors LLC lifted its position in Gartner by 1.8% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 1,725 shares of the information technology services provider's stock worth $697,000 after buying an additional 31 shares in the last quarter. Verdence Capital Advisors LLC lifted its position in Gartner by 2.6% during the 2nd quarter. Verdence Capital Advisors LLC now owns 1,333 shares of the information technology services provider's stock worth $539,000 after buying an additional 34 shares in the last quarter. Finally, Resonant Capital Advisors LLC lifted its position in Gartner by 1.6% during the 1st quarter. Resonant Capital Advisors LLC now owns 2,324 shares of the information technology services provider's stock worth $975,000 after buying an additional 36 shares in the last quarter. Institutional investors own 91.51% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on IT. Morgan Stanley set a $307.00 price target on shares of Gartner in a research report on Monday, October 13th. Wells Fargo & Company cut their price target on shares of Gartner from $345.00 to $225.00 and set an "underweight" rating on the stock in a research report on Wednesday, August 6th. William Blair restated an "outperform" rating on shares of Gartner in a report on Tuesday. The Goldman Sachs Group lowered their price objective on shares of Gartner from $535.00 to $457.00 and set a "buy" rating on the stock in a report on Wednesday, August 6th. Finally, Weiss Ratings restated a "hold (c-)" rating on shares of Gartner in a report on Wednesday, October 8th. Four analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Gartner has an average rating of "Hold" and a consensus price target of $346.20.

Gartner Trading Up 0.1%

Shares of Gartner stock opened at $251.27 on Friday. Gartner, Inc. has a 52-week low of $223.65 and a 52-week high of $584.01. The firm has a 50-day moving average of $248.50 and a 200-day moving average of $341.16. The company has a debt-to-equity ratio of 1.61, a quick ratio of 1.11 and a current ratio of 1.11. The stock has a market cap of $19.03 billion, a PE ratio of 15.46 and a beta of 1.20.

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 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 firm had revenue of $1.66 billion during the quarter, compared to analysts' expectations of $1.68 billion. During the same quarter in the prior year, the business earned $3.22 earnings per share. The business's revenue for the quarter 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, sell-side analysts forecast that Gartner, Inc. will post 12.5 EPS for the current year.

Insider Buying and Selling

In other Gartner news, Director Jose M. Gutierrez purchased 417 shares of the business's stock in a transaction on Monday, August 18th. The shares were purchased at an average cost of $239.80 per share, for a total transaction of $99,996.60. Following the acquisition, the director owned 2,080 shares of the company's stock, valued at approximately $498,784. This represents 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 available at the SEC website. Also, SVP John J. Rinello sold 105 shares of the stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $249.71, for a total value of $26,219.55. Following the completion of the transaction, the senior vice president owned 3,225 shares in the company, 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. Corporate insiders own 2.30% of the company's stock.

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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