Gartner, Inc. $IT Shares Purchased by Cardinal Capital Management

Cardinal Capital Management boosted its holdings in Gartner, Inc. (NYSE:IT) by 1.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,767 shares of the information technology services provider’s stock after purchasing an additional 52 shares during the quarter. Cardinal Capital Management’s holdings in Gartner were worth $1,523,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Avanza Fonder AB acquired a new position in shares of Gartner in the 2nd quarter valued at about $1,874,000. Sowell Financial Services LLC boosted its stake in Gartner by 2.6% in the second quarter. Sowell Financial Services LLC now owns 1,891 shares of the information technology services provider’s stock valued at $764,000 after acquiring an additional 48 shares during the period. Abacus FCF Advisors LLC boosted its stake in Gartner by 534.6% in the second quarter. Abacus FCF Advisors LLC now owns 36,889 shares of the information technology services provider’s stock valued at $14,911,000 after acquiring an additional 31,076 shares during the period. IFM Investors Pty Ltd boosted its stake in Gartner by 4.2% in the second quarter. IFM Investors Pty Ltd now owns 15,150 shares of the information technology services provider’s stock valued at $6,124,000 after acquiring an additional 605 shares during the period. Finally, Exchange Traded Concepts LLC boosted its position in Gartner by 15.8% during the 2nd quarter. Exchange Traded Concepts LLC now owns 9,791 shares of the information technology services provider’s stock valued at $3,958,000 after purchasing an additional 1,336 shares during the period. 91.51% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Jose M. Gutierrez acquired 417 shares of the business’s stock in a transaction dated Monday, August 18th. The stock was acquired at an average price 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 in the company, valued at $498,784. This represents a 25.08% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, SVP John J. Rinello sold 105 shares of the company’s stock in a transaction 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 completion of the sale, the senior vice president owned 3,225 shares of the company’s stock, valued at approximately $805,314.75. This trade represents a 3.15% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 3.60% of the company’s stock.

Gartner Trading Up 1.7%

Shares of NYSE:IT opened at $260.69 on Tuesday. The company has a 50 day moving average of $276.26 and a 200-day moving average of $368.93. The firm has a market cap of $19.74 billion, a P/E ratio of 16.04 and a beta of 1.20. Gartner, Inc. has a twelve month low of $223.65 and a twelve month high of $584.01. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 1.61.

Gartner (NYSE:IT) last issued its quarterly earnings results on Tuesday, August 5th. The information technology services provider reported $3.53 earnings per share 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 analyst estimates of $1.68 billion. Gartner had a net margin of 19.71% and a return on equity of 82.63%. The business’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same period in the prior year, the business posted $3.22 EPS. Gartner has set its FY 2025 guidance at 11.750- EPS. As a group, analysts anticipate that Gartner, Inc. will post 12.5 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently issued reports on IT. Wolfe Research initiated coverage on Gartner in a research report on Wednesday, September 3rd. They set a “peer perform” rating for the company. BMO Capital Markets reduced their price target on shares of Gartner from $409.00 to $272.00 and set a “market perform” rating for the company in a report on Wednesday, August 6th. Barclays reduced their target price on shares of Gartner from $475.00 to $320.00 and set an “overweight” rating for the company in a research note on Wednesday, August 6th. Royal Bank Of Canada started coverage on shares of Gartner in a research note on Tuesday, September 9th. They set a “sector perform” rating and a $263.00 target price for the company. Finally, Morgan Stanley reduced their price objective on Gartner from $455.00 to $322.00 and set an “equal weight” rating for the company in a research report on Wednesday, August 6th. Three analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Gartner currently has a consensus rating of “Hold” and a consensus price target of $357.44.

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.