Gartner, Inc. $IT Shares Sold by Vident Advisory LLC

Key Points

• Vident Advisory LLC has significantly reduced its position in Gartner, Inc. by 55.4%, now holding shares valued at approximately $1.66 million.
• Recent analyst ratings have downgraded Gartner's target price, with estimates ranging from $225.00 to $457.00, indicating a cautious outlook for the company's stock.
• Gartner reported earnings of $3.53 per share in its latest quarter, exceeding expectations, although revenue of $1.66 billion fell slightly short of analyst forecasts.

Vident Advisory LLC lowered its position in Gartner, Inc. (NYSE:IT - Free Report) by 55.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,960 shares of the information technology services provider's stock after selling 4,917 shares during the period. Vident Advisory LLC's holdings in Gartner were worth $1,662,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. DAVENPORT & Co LLC lifted its holdings in shares of Gartner by 11.5% in the 1st quarter. DAVENPORT & Co LLC now owns 921 shares of the information technology services provider's stock valued at $387,000 after buying an additional 95 shares during the period. HighPoint Advisor Group LLC lifted its holdings in shares of Gartner by 3.6% in the 1st quarter. HighPoint Advisor Group LLC now owns 1,145 shares of the information technology services provider's stock valued at $482,000 after buying an additional 40 shares during the period. SG Americas Securities LLC lifted its holdings in shares of Gartner by 3.6% in the 1st quarter. SG Americas Securities LLC now owns 42,389 shares of the information technology services provider's stock valued at $17,792,000 after buying an additional 1,484 shares during the period. Brighton Jones LLC acquired a new position in shares of Gartner in the 4th quarter valued at about $309,000. Finally, Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Gartner by 1.2% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 28,612 shares of the information technology services provider's stock valued at $12,009,000 after buying an additional 352 shares during the period. Hedge funds and other institutional investors own 91.51% of the company's stock.

Insider Activity at Gartner

In related news, SVP John J. Rinello sold 105 shares of the stock in a transaction that occurred 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 directly 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Jose M. Gutierrez bought 417 shares of the business's stock in a transaction on Monday, August 18th. The shares were acquired at an average cost of $239.80 per share, with a total value of $99,996.60. Following the purchase, the director owned 2,080 shares of the company's stock, valued at $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 currently owned by company insiders.

Wall Street Analyst Weigh In

IT has been the subject of several analyst reports. Morgan Stanley decreased their price objective on Gartner from $455.00 to $322.00 and set an "equal weight" rating for the company in a report on Wednesday, August 6th. Wolfe Research assumed coverage on Gartner in a report on Wednesday. They issued a "peer perform" rating for the company. BMO Capital Markets reduced their price target on Gartner from $409.00 to $272.00 and set a "market perform" rating for the company in a report on Wednesday, August 6th. Wells Fargo & Company reduced their price target on Gartner from $345.00 to $225.00 and set an "underweight" rating for the company in a report on Wednesday, August 6th. Finally, The Goldman Sachs Group reduced their price target on Gartner from $535.00 to $457.00 and set a "buy" rating for the company in a report on Wednesday, August 6th. Three investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $369.25.

Gartner Price Performance

NYSE:IT traded up $9.06 during trading hours on Friday, hitting $245.79. 1,304,551 shares of the stock were exchanged, compared to its average volume of 1,429,579. Gartner, Inc. has a 52-week low of $223.65 and a 52-week high of $584.01. The firm's fifty day moving average price is $308.20 and its 200 day moving average price is $388.40. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 1.61. The company has a market cap of $18.62 billion, a P/E ratio of 15.13 and a beta of 1.20.

Gartner (NYSE:IT - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The information technology services provider reported $3.53 EPS for the quarter, beating the consensus estimate of $3.38 by $0.15. Gartner had a return on equity of 82.63% and a net margin of 19.71%.The firm had revenue of $1.66 billion during the quarter, compared to analysts' expectations of $1.68 billion. During the same quarter last year, the firm earned $3.22 earnings per share. The business's revenue for the quarter was up 5.7% on a year-over-year basis. Gartner has set its FY 2025 guidance at 11.750- EPS. As a group, equities research analysts anticipate that Gartner, Inc. will post 12.5 EPS 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.