DAVENPORT & Co LLC Raises Stock Holdings in Gartner, Inc. $IT

DAVENPORT & Co LLC lifted its holdings in Gartner, Inc. (NYSE:IT) by 15.1% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 1,060 shares of the information technology services provider’s stock after purchasing an additional 139 shares during the period. DAVENPORT & Co LLC’s holdings in Gartner were worth $428,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Gartner by 22.2% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 34,964 shares of the information technology services provider’s stock worth $13,995,000 after buying an additional 6,352 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in shares of Gartner by 10.2% in the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 12,433 shares of the information technology services provider’s stock worth $5,026,000 after buying an additional 1,150 shares during the period. Pallas Capital Advisors LLC raised its holdings in shares of Gartner by 154.4% in the second quarter. Pallas Capital Advisors LLC now owns 3,445 shares of the information technology services provider’s stock worth $1,393,000 after buying an additional 2,091 shares during the period. Bright Rock Capital Management LLC purchased a new stake in shares of Gartner in the second quarter worth approximately $1,859,000. Finally, Abacus FCF Advisors LLC raised its holdings in shares of 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 worth $14,911,000 after buying an additional 31,076 shares during the period. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Gartner Stock Down 2.0%

Shares of NYSE IT opened at $239.66 on Monday. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 1.61. The stock has a market capitalization of $18.15 billion, a PE ratio of 14.75 and a beta of 1.20. The stock’s fifty day simple moving average is $248.97 and its two-hundred day simple moving average is $350.43. Gartner, Inc. has a 12-month low of $223.65 and a 12-month high of $584.01.

Gartner (NYSE:IT) last announced its earnings results on Tuesday, August 5th. The information technology services provider reported $3.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.38 by $0.15. The business had revenue of $1.66 billion for the quarter, compared to analysts’ expectations of $1.68 billion. Gartner had a return on equity of 82.63% and a net margin of 19.71%.The business’s revenue for the quarter was up 5.7% on a year-over-year basis. During the same quarter last year, the firm earned $3.22 EPS. Gartner has set its FY 2025 guidance at 11.750- EPS. As a group, analysts expect that Gartner, Inc. will post 12.5 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have commented on the company. Weiss Ratings restated a “hold (c-)” rating on shares of Gartner in a report on Wednesday, October 8th. BMO Capital Markets reduced their price objective on Gartner from $409.00 to $272.00 and set a “market perform” rating on the stock in a report on Wednesday, August 6th. 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 report on Wednesday, August 6th. UBS Group raised their price objective on Gartner from $270.00 to $280.00 and gave the stock a “neutral” rating in a report on Monday, October 6th. Finally, Barclays reduced their price objective on Gartner from $475.00 to $320.00 and set an “overweight” rating on the stock in a report on Wednesday, August 6th. Three analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $358.56.

Insiders Place Their Bets

In other news, SVP John J. Rinello sold 105 shares of the firm’s stock in a transaction on Friday, August 22nd. The stock was 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 $805,314.75. This trade represents a 3.15% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jose M. Gutierrez acquired 417 shares of the stock in a transaction dated Monday, August 18th. The stock was acquired at an average cost of $239.80 per share, with a total value of $99,996.60. Following the transaction, the director directly owned 2,080 shares in the company, valued at approximately $498,784. This represents a 25.08% increase in their ownership of the stock. The disclosure for this purchase can be found here. 3.60% of the stock is owned by company insiders.

Gartner Company 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.