Wealth Enhancement Advisory Services LLC Increases Stock Holdings in Gartner, Inc. $IT

Key Points

• Wealth Enhancement Advisory Services LLC increased its stake in Gartner, Inc. by 22.2% during the second quarter, owning 34,964 shares valued at approximately $13.99 million.
• Gartner recently reported $3.53 earnings per share for the quarter, exceeding analyst estimates, with revenue totaling $1.66 billion despite being slightly below expectations.
• Target prices for Gartner's stock have been adjusted downward by several research firms, with Barclays lowering its target from $475 to $320 while maintaining an "overweight" rating.

Wealth Enhancement Advisory Services LLC grew its stake in shares of Gartner, Inc. (NYSE:IT - Free Report) by 22.2% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 34,964 shares of the information technology services provider's stock after buying an additional 6,352 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in Gartner were worth $13,995,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in IT. Ransom Advisory Ltd bought a new position in shares of Gartner during the 1st quarter valued at approximately $29,000. Olde Wealth Management LLC purchased a new stake in shares of Gartner in the 1st quarter worth $42,000. GW&K Investment Management LLC lifted its stake in shares of Gartner by 210.8% during the 1st quarter. GW&K Investment Management LLC now owns 115 shares of the information technology services provider's stock worth $48,000 after purchasing an additional 78 shares during the last quarter. Wayfinding Financial LLC purchased a new stake in Gartner in the first quarter valued at about $55,000. Finally, Bayforest Capital Ltd increased its holdings in shares of Gartner by 527.3% in the first quarter. Bayforest Capital Ltd now owns 138 shares of the information technology services provider's stock valued at $58,000 after purchasing an additional 116 shares during the period. 91.51% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Gartner

In other Gartner 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, with a total value of $99,996.60. Following the acquisition, the director directly 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 legal filing with the SEC, which can be accessed through this link. Also, SVP John J. Rinello sold 105 shares of Gartner stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $249.71, for a total value of $26,219.55. Following the sale, the senior vice president directly 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. 3.60% of the stock is owned by insiders.

Gartner Stock Up 1.4%

Shares of NYSE IT opened at $256.55 on Monday. The company has a market capitalization of $19.43 billion, a price-to-earnings ratio of 15.79 and a beta of 1.20. 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 business has a 50-day moving average of $278.51 and a two-hundred day moving average of $370.48. Gartner, Inc. has a 1 year low of $223.65 and a 1 year high of $584.01.

Gartner (NYSE:IT - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The information technology services provider reported $3.53 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.38 by $0.15. The company had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.68 billion. Gartner had a return on equity of 82.63% and a net margin of 19.71%.Gartner's revenue for the quarter was up 5.7% on a year-over-year basis. During the same period in the previous year, the business earned $3.22 EPS. 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.

Analyst Upgrades and Downgrades

Several research firms recently commented on IT. Barclays dropped their target price on Gartner from $475.00 to $320.00 and set an "overweight" rating on the stock in a report on Wednesday, August 6th. UBS Group restated a "neutral" rating and issued a $270.00 target price (down previously from $480.00) on shares of Gartner in a research report on Wednesday, August 6th. Royal Bank Of Canada began coverage on Gartner in a research report on Tuesday, September 9th. They set a "sector perform" rating and a $263.00 price objective on the stock. Wolfe Research began coverage on Gartner in a research report on Wednesday, September 3rd. They set a "peer perform" rating on the stock. Finally, Morgan Stanley reduced their price objective on Gartner from $455.00 to $322.00 and set an "equal weight" rating on the stock in a research report on Wednesday, August 6th. Three research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Gartner has an average rating of "Hold" and a consensus target price of $357.44.

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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