Gartner, Inc. $IT Shares Acquired by Nordea Investment Management AB

Nordea Investment Management AB lifted its position in Gartner, Inc. (NYSE:IT) by 9.2% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,134 shares of the information technology services provider’s stock after purchasing an additional 600 shares during the quarter. Nordea Investment Management AB’s holdings in Gartner were worth $2,880,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Applied Finance Capital Management LLC boosted its position in shares of Gartner by 1.5% in the 1st quarter. Applied Finance Capital Management LLC now owns 1,945 shares of the information technology services provider’s stock valued at $816,000 after purchasing an additional 29 shares during the period. Allworth Financial LP boosted its position in shares of Gartner by 5.6% in the 1st quarter. Allworth Financial LP now owns 562 shares of the information technology services provider’s stock valued at $235,000 after purchasing an additional 30 shares during the period. Sequoia Financial Advisors LLC boosted its position 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 purchasing an additional 31 shares during the period. Verdence Capital Advisors LLC boosted its position in shares of 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 period. Finally, Resonant Capital Advisors LLC boosted its position in shares of Gartner by 1.6% in the 1st quarter. Resonant Capital Advisors LLC now owns 2,324 shares of the information technology services provider’s stock valued at $975,000 after purchasing an additional 36 shares during the period. 91.51% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

IT has been the subject of several analyst reports. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Gartner in a research note on Wednesday, October 8th. Truist Financial initiated coverage on Gartner in a research note on Thursday, October 16th. They set a “buy” rating and a $300.00 price objective for the company. Morgan Stanley set a $307.00 target price on Gartner in a research note on Monday, October 13th. Royal Bank Of Canada initiated coverage on Gartner in a research note on Tuesday, September 9th. They set a “sector perform” rating and a $263.00 target price for the company. Finally, Wells Fargo & Company cut their target price on Gartner from $345.00 to $225.00 and set an “underweight” rating for the company in a research note on Wednesday, August 6th. Four research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $346.20.

Gartner Stock Performance

IT opened at $251.21 on Thursday. The stock has a market cap of $19.03 billion, a P/E ratio of 15.46 and a beta of 1.20. The company has a debt-to-equity ratio of 1.61, a current ratio of 1.11 and a quick ratio of 1.11. The stock’s 50 day simple moving average is $248.34 and its 200 day simple moving average is $342.06. Gartner, Inc. has a 1-year low of $223.65 and a 1-year high of $584.01.

Gartner (NYSE:IT) last released its quarterly earnings results on Tuesday, August 5th. The information technology services provider reported $3.53 earnings per share for the quarter, topping analysts’ consensus estimates 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 company’s revenue was up 5.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.22 EPS. Gartner has set its FY 2025 guidance at 11.750- EPS. As a group, equities analysts anticipate that Gartner, Inc. will post 12.5 EPS for the current fiscal year.

Insiders Place Their Bets

In other Gartner news, SVP John J. Rinello sold 105 shares of the stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $249.71, for a total transaction of $26,219.55. Following the sale, the senior vice president owned 3,225 shares in the company, valued at approximately $805,314.75. This represents a 3.15% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jose M. Gutierrez bought 417 shares of the stock in a transaction on Monday, August 18th. The shares were bought at an average price of $239.80 per share, for a total transaction of $99,996.60. Following the acquisition, the director owned 2,080 shares in the company, valued at $498,784. The trade was a 25.08% increase in their position. The disclosure for this purchase can be found here. 2.30% of the stock is currently owned by corporate insiders.

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.