Turtle Creek Wealth Advisors LLC Takes Position in Gartner, Inc. $IT

Key Points

• Turtle Creek Wealth Advisors LLC has acquired a new stake in Gartner, purchasing 2,735 shares valued at approximately $1.1 million during the second quarter.
• As of now, 91.51% of Gartner's stock is held by institutional investors, indicating strong institutional interest.
• Analysts have mixed ratings on Gartner, with a consensus average rating of "Hold" and an average target price of $356.89.

Turtle Creek Wealth Advisors LLC bought a new stake in shares of Gartner, Inc. (NYSE:IT - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 2,735 shares of the information technology services provider's stock, valued at approximately $1,106,000.

Other hedge funds have also bought and sold shares of the company. Applied Finance Capital Management LLC lifted its position in Gartner by 1.5% during the first quarter. Applied Finance Capital Management LLC now owns 1,945 shares of the information technology services provider's stock valued at $816,000 after purchasing an additional 29 shares during the last quarter. Allworth Financial LP lifted its position in Gartner by 5.6% during the first quarter. Allworth Financial LP now owns 562 shares of the information technology services provider's stock valued at $235,000 after purchasing an additional 30 shares during the last quarter. Brighton Jones LLC lifted its position in Gartner by 4.9% during the first quarter. Brighton Jones LLC now owns 668 shares of the information technology services provider's stock valued at $280,000 after purchasing an additional 31 shares during the last quarter. Sequoia Financial Advisors LLC lifted its position in Gartner by 1.8% during the second quarter. Sequoia Financial Advisors LLC now owns 1,725 shares of the information technology services provider's stock valued at $697,000 after purchasing an additional 31 shares during the last quarter. Finally, Verdence Capital Advisors LLC lifted its position in Gartner by 2.6% during the second quarter. Verdence Capital Advisors LLC now owns 1,333 shares of the information technology services provider's stock valued at $539,000 after purchasing an additional 34 shares during the last quarter. Institutional investors own 91.51% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. UBS Group increased their price objective on shares of Gartner from $270.00 to $280.00 and gave the company a "neutral" rating in a research report on Monday, October 6th. Weiss Ratings reiterated a "hold (c-)" rating on shares of Gartner in a research report on Wednesday, October 8th. BMO Capital Markets reduced their target price on shares of Gartner from $409.00 to $272.00 and set a "market perform" rating on the stock in a research note on Wednesday, August 6th. The Goldman Sachs Group reduced their target price 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, 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 research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $356.89.

Gartner Trading Down 4.0%

IT stock opened at $236.75 on Thursday. The company has a market capitalization of $17.93 billion, a PE ratio of 14.57 and a beta of 1.20. Gartner, Inc. has a 12 month low of $223.65 and a 12 month high of $584.01. The firm's 50-day moving average is $247.04 and its 200 day moving average is $347.74. The company has a debt-to-equity ratio of 1.61, a current ratio of 1.11 and a quick ratio of 1.11.

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, 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 company's revenue for the quarter was up 5.7% on a year-over-year basis. During the same quarter last year, the firm posted $3.22 EPS. Gartner has set its FY 2025 guidance at 11.750- EPS. On average, research analysts anticipate that Gartner, Inc. will post 12.5 EPS for the current year.

Insider Buying and Selling

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

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.

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