Laurus Global Equity Management Inc. Invests $3.83 Million in Gartner, Inc. $IT

Laurus Global Equity Management Inc. bought a new position in Gartner, Inc. (NYSE:IT) during the third quarter, Holdings Channel reports. The firm bought 14,580 shares of the information technology services provider’s stock, valued at approximately $3,833,000. Gartner comprises about 2.6% of Laurus Global Equity Management Inc.’s portfolio, making the stock its 11th biggest position.

A number of other hedge funds have also added to or reduced their stakes in the stock. Addison Advisors LLC bought a new position in shares of Gartner in the second quarter valued at approximately $27,000. True Wealth Design LLC raised its position in Gartner by 1,130.8% in the 3rd quarter. True Wealth Design LLC now owns 160 shares of the information technology services provider’s stock valued at $42,000 after buying an additional 147 shares during the last quarter. Chilton Capital Management LLC bought a new position in Gartner during the 2nd quarter valued at $47,000. Versant Capital Management Inc boosted its holdings in Gartner by 1,284.6% during the 3rd quarter. Versant Capital Management Inc now owns 180 shares of the information technology services provider’s stock worth $47,000 after acquiring an additional 167 shares during the last quarter. Finally, Osterweis Capital Management Inc. bought a new stake in shares of Gartner in the 2nd quarter worth $48,000. Institutional investors and hedge funds own 91.51% of the company’s stock.

Insider Buying and Selling

In related news, SVP John J. Rinello sold 220 shares of Gartner stock in a transaction that occurred on Wednesday, December 3rd. The shares were sold at an average price of $229.57, for a total value of $50,505.40. Following the completion of the transaction, the senior vice president directly owned 3,046 shares in the company, valued at approximately $699,270.22. The trade was a 6.74% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Stephen G. Pagliuca bought 43,300 shares of the stock in a transaction on Wednesday, December 10th. The shares were acquired at an average cost of $229.57 per share, for a total transaction of $9,940,381.00. Following the acquisition, the director directly owned 111,613 shares in the company, valued at approximately $25,622,996.41. This trade represents a 63.38% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 3.60% of the stock is owned by insiders.

Gartner Stock Down 2.6%

Shares of NYSE IT opened at $225.88 on Thursday. The company has a debt-to-equity ratio of 4.42, a current ratio of 0.88 and a quick ratio of 0.88. The stock has a market capitalization of $16.28 billion, a PE ratio of 19.81 and a beta of 1.07. Gartner, Inc. has a one year low of $221.16 and a one year high of $584.01. The business’s fifty day moving average price is $238.50 and its 200-day moving average price is $254.43.

Gartner (NYSE:IT) last announced its quarterly earnings data on Tuesday, November 4th. The information technology services provider reported $2.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.41 by $0.35. The business had revenue of $1.52 billion for the quarter, compared to analysts’ expectations of $1.52 billion. Gartner had a return on equity of 92.12% and a net margin of 13.71%.Gartner has set its FY 2025 guidance at 12.650- EPS. On average, equities research analysts anticipate that Gartner, Inc. will post 12.5 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms recently weighed in on IT. UBS Group boosted their price target on shares of Gartner from $256.00 to $270.00 and gave the stock a “neutral” rating in a report on Friday, January 9th. Morgan Stanley decreased their price target on Gartner from $281.00 to $275.00 and set an “equal weight” rating for the company in a research report on Wednesday, December 17th. Barclays dropped their price target on Gartner from $270.00 to $260.00 and set an “equal weight” rating on the stock in a report on Wednesday, November 5th. William Blair restated an “outperform” rating on shares of Gartner in a research note on Tuesday, October 21st. Finally, Wells Fargo & Company cut their price target on shares of Gartner from $231.00 to $218.00 and set an “underweight” rating on the stock in a report on Wednesday, November 5th. Four equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $309.67.

Gartner Profile

Gartner, Inc is a global research and advisory firm that provides insights, advice and tools for leaders in IT, finance, HR, customer service and other business functions. Founded in 1979 and headquartered in Stamford, Connecticut, Gartner specializes in helping organizations make informed decisions about technology, operations and strategy through a combination of published research, advisory services, consulting, executive programs and events.

The company’s offerings include proprietary research reports, market forecasts, and analytical frameworks that are widely used by technology buyers and vendors.