Renaissance Group LLC Boosts Stake in Gartner, Inc. $IT

Renaissance Group LLC lifted its position in Gartner, Inc. (NYSE:IT) by 7.7% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 72,196 shares of the information technology services provider’s stock after purchasing an additional 5,184 shares during the quarter. Renaissance Group LLC owned approximately 0.09% of Gartner worth $29,183,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Applied Finance Capital Management LLC boosted its holdings in shares of Gartner by 1.5% in 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 acquiring an additional 29 shares during the period. Sequoia Financial Advisors LLC increased its holdings in shares of Gartner by 1.8% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 1,725 shares of the information technology services provider’s stock valued at $697,000 after acquiring an additional 31 shares during the period. Verdence Capital Advisors LLC raised its position in Gartner by 2.6% in the 2nd 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. Accurate Wealth Management LLC boosted its stake in Gartner by 2.8% during the 2nd quarter. Accurate Wealth Management LLC now owns 1,308 shares of the information technology services provider’s stock worth $507,000 after purchasing an additional 36 shares during the period. Finally, EP Wealth Advisors LLC grew its position in Gartner by 5.0% during the 1st quarter. EP Wealth Advisors LLC now owns 800 shares of the information technology services provider’s stock worth $336,000 after purchasing an additional 38 shares during the last quarter. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Gartner Stock Down 0.2%

Gartner stock opened at $226.34 on Wednesday. The stock’s 50 day moving average price is $245.79 and its 200 day moving average price is $318.51. Gartner, Inc. has a 1-year low of $222.54 and a 1-year high of $584.01. The company has a market cap of $16.31 billion, a PE ratio of 13.93 and a beta of 1.19. 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) last released its quarterly earnings data on Tuesday, November 4th. The information technology services provider reported $2.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.41 by $0.35. The firm had revenue of $1.52 billion during the quarter, compared to analysts’ expectations of $1.52 billion. Gartner had a return on equity of 82.63% and a net margin of 19.71%. Gartner has set its FY 2025 guidance at 12.650- EPS. On average, sell-side analysts predict that Gartner, Inc. will post 12.5 EPS for the current fiscal year.

Insider Activity

In related news, SVP John J. Rinello sold 105 shares of the firm’s stock in a transaction dated 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 in the company, valued at $805,314.75. This trade represents a 3.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.30% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

IT has been the subject of a number of research reports. Morgan Stanley set a $307.00 target price on shares of Gartner in a report on Monday, October 13th. UBS Group reduced their price objective on Gartner from $280.00 to $256.00 and set a “neutral” rating for the company in a research note on Wednesday, November 5th. Weiss Ratings cut Gartner from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Saturday, October 25th. The Goldman Sachs Group dropped their target price on Gartner from $457.00 to $390.00 and set a “buy” rating on the stock in a report on Wednesday, November 5th. Finally, William Blair reaffirmed an “outperform” rating on shares of Gartner in a report on Tuesday, October 21st. Four analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $311.67.

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.