Sagespring Wealth Partners LLC Has $234,000 Stock Position in Gartner, Inc. $IT

Sagespring Wealth Partners LLC trimmed its position in Gartner, Inc. (NYSE:IT) by 13.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 579 shares of the information technology services provider’s stock after selling 91 shares during the quarter. Sagespring Wealth Partners LLC’s holdings in Gartner were worth $234,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. TD Asset Management Inc increased its position in Gartner by 6.8% in the second quarter. TD Asset Management Inc now owns 172,215 shares of the information technology services provider’s stock worth $69,613,000 after purchasing an additional 10,994 shares during the period. NorthRock Partners LLC increased its position in Gartner by 6.6% in the second quarter. NorthRock Partners LLC now owns 1,367 shares of the information technology services provider’s stock worth $553,000 after purchasing an additional 85 shares during the period. Verdence Capital Advisors LLC increased its position in Gartner by 2.6% in the second quarter. Verdence Capital Advisors LLC now owns 1,333 shares of the information technology services provider’s stock worth $539,000 after purchasing an additional 34 shares during the period. Sequoia Financial Advisors LLC grew its position in shares of Gartner by 1.8% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 1,725 shares of the information technology services provider’s stock worth $697,000 after buying an additional 31 shares during the period. Finally, Index Fund Advisors Inc. acquired a new position in shares of Gartner during the 2nd quarter worth about $373,000. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Gartner Price Performance

Shares of IT opened at $235.63 on Friday. The company has a debt-to-equity ratio of 1.61, a quick ratio of 1.11 and a current ratio of 1.11. The stock has a 50 day simple moving average of $247.30 and a 200 day simple moving average of $344.70. Gartner, Inc. has a 52-week low of $223.65 and a 52-week high of $584.01. The firm has a market capitalization of $17.85 billion, a PE ratio of 14.50 and a beta of 1.20.

Gartner (NYSE:IT) last issued its quarterly earnings data 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. Gartner had a return on equity of 82.63% and a net margin of 19.71%.The business had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.68 billion. During the same period in the previous year, the firm earned $3.22 EPS. Gartner’s quarterly revenue was up 5.7% compared to the same quarter last year. Gartner has set its FY 2025 guidance at 11.750- EPS. Sell-side analysts predict that Gartner, Inc. will post 12.5 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on IT. Barclays decreased their target price on Gartner from $475.00 to $320.00 and set an “overweight” rating for the company in a research report on Wednesday, August 6th. The Goldman Sachs Group decreased their target price on Gartner from $535.00 to $457.00 and set a “buy” rating for the company in a research report on Wednesday, August 6th. UBS Group boosted their target price on Gartner from $270.00 to $280.00 and gave the stock a “neutral” rating in a research report on Monday, October 6th. Wolfe Research began coverage on Gartner in a research report on Wednesday, September 3rd. They set a “peer perform” rating for the company. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Gartner in a research report on Wednesday, October 8th. Four research 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 data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $351.20.

Insider Activity at Gartner

In other news, Director Jose M. Gutierrez bought 417 shares of the business’s stock in a transaction on Monday, August 18th. The shares were purchased at an average price of $239.80 per share, for a total transaction of $99,996.60. Following the purchase, the director owned 2,080 shares of the company’s stock, valued at approximately $498,784. The trade was a 25.08% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP John J. Rinello sold 105 shares of the business’s stock in a transaction that occurred 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 in the company, valued at $805,314.75. The trade was a 3.15% decrease in their position. The disclosure for this sale can be found here. Insiders own 2.30% of the company’s stock.

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.