Gartner, Inc. $IT Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. reduced its stake in shares of Gartner, Inc. (NYSE:IT) by 4.4% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 32,648 shares of the information technology services provider’s stock after selling 1,487 shares during the period. PNC Financial Services Group Inc.’s holdings in Gartner were worth $13,197,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. T. Rowe Price Investment Management Inc. boosted its stake in shares of Gartner by 692.2% in the first quarter. T. Rowe Price Investment Management Inc. now owns 1,066,732 shares of the information technology services provider’s stock worth $447,751,000 after buying an additional 932,077 shares during the last quarter. Nuveen LLC acquired a new position in Gartner in the first quarter valued at approximately $128,318,000. JPMorgan Chase & Co. lifted its holdings in Gartner by 20.5% in the first quarter. JPMorgan Chase & Co. now owns 1,245,563 shares of the information technology services provider’s stock valued at $522,813,000 after acquiring an additional 211,842 shares during the period. Generation Investment Management LLP boosted its position in Gartner by 16.5% in the 1st quarter. Generation Investment Management LLP now owns 1,341,342 shares of the information technology services provider’s stock worth $563,015,000 after purchasing an additional 189,514 shares in the last quarter. Finally, Vanguard Group Inc. grew its stake in shares of Gartner by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 9,433,449 shares of the information technology services provider’s stock worth $3,959,596,000 after purchasing an additional 164,810 shares during the period. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Insider Buying and Selling

In other news, Director Jose M. Gutierrez purchased 417 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the director owned 2,080 shares of the company’s stock, valued at $498,784. This trade represents a 25.08% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP John J. Rinello sold 105 shares of the 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 transaction, the senior vice president directly owned 3,225 shares of the company’s stock, valued at approximately $805,314.75. This represents a 3.15% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 2.30% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on IT shares. Wells Fargo & Company decreased their target price on shares of Gartner from $231.00 to $218.00 and set an “underweight” rating for the company in a research note on Wednesday, November 5th. The Goldman Sachs Group cut their price objective on shares of Gartner from $457.00 to $390.00 and set a “buy” rating for the company in a report on Wednesday, November 5th. Royal Bank Of Canada began 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 on the stock. Weiss Ratings lowered Gartner from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Saturday, October 25th. Finally, BMO Capital Markets reduced their price target on Gartner from $272.00 to $254.00 and set a “market perform” rating for the company in a report on Wednesday, November 5th. Four analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, Gartner presently has an average rating of “Hold” and an average target price of $311.67.

Gartner Stock Up 0.4%

IT stock opened at $231.06 on Friday. Gartner, Inc. has a 52 week low of $222.54 and a 52 week high of $584.01. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 1.61. The firm has a 50-day simple moving average of $246.58 and a 200-day simple moving average of $321.99. The stock has a market capitalization of $17.50 billion, a P/E ratio of 14.22 and a beta of 1.19.

Gartner (NYSE:IT) last issued its quarterly earnings results on Tuesday, November 4th. The information technology services provider reported $2.76 earnings per share for the quarter, beating analysts’ consensus estimates of $2.41 by $0.35. Gartner had a net margin of 19.71% and a return on equity of 82.63%. The firm had revenue of $1.52 billion for the quarter, compared to analyst estimates of $1.52 billion. Gartner has set its FY 2025 guidance at 12.650- EPS. Equities analysts forecast that Gartner, Inc. will post 12.5 earnings per share for the current fiscal year.

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.