Interchange Capital Partners LLC Takes Position in Gartner, Inc. $IT

Interchange Capital Partners LLC acquired a new stake in shares of Gartner, Inc. (NYSE:IT) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 496 shares of the information technology services provider’s stock, valued at approximately $200,000.

Several other hedge funds also recently modified their holdings of the stock. Brighton Jones LLC boosted its position in shares of Gartner by 49.3% during the second quarter. Brighton Jones LLC now owns 997 shares of the information technology services provider’s stock valued at $403,000 after buying an additional 329 shares during the last quarter. Kornitzer Capital Management Inc. KS boosted its position in Gartner by 44.5% in the second quarter. Kornitzer Capital Management Inc. KS now owns 46,856 shares of the information technology services provider’s stock worth $18,940,000 after purchasing an additional 14,435 shares during the last quarter. AG2R LA Mondiale Gestion D Actifs boosted its position in Gartner by 3.0% in the second quarter. AG2R LA Mondiale Gestion D Actifs now owns 3,180 shares of the information technology services provider’s stock worth $1,285,000 after purchasing an additional 94 shares during the last quarter. Focus Partners Advisor Solutions LLC boosted its position in Gartner by 88.8% in the second quarter. Focus Partners Advisor Solutions LLC now owns 1,484 shares of the information technology services provider’s stock worth $600,000 after purchasing an additional 698 shares during the last quarter. Finally, Fielder Capital Group LLC boosted its position in Gartner by 20.6% in the second quarter. Fielder Capital Group LLC now owns 692 shares of the information technology services provider’s stock worth $280,000 after purchasing an additional 118 shares during the last quarter. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Gartner Stock Performance

Shares of IT opened at $250.40 on Monday. The firm has a market cap of $18.97 billion, a PE ratio of 15.41 and a beta of 1.20. The stock’s fifty day moving average price is $248.73 and its two-hundred day moving average price is $339.59. 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, 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 data on Tuesday, August 5th. The information technology services provider reported $3.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.38 by $0.15. Gartner had a return on equity of 82.63% and a net margin of 19.71%.The company had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.68 billion. During the same period in the previous year, the company posted $3.22 EPS. The firm’s revenue for the quarter was up 5.7% compared to the same quarter last year. Gartner has set its FY 2025 guidance at 11.750- EPS. On average, equities research analysts forecast that Gartner, Inc. will post 12.5 EPS for the current year.

Insiders Place Their Bets

In related news, Director Jose M. Gutierrez acquired 417 shares of the firm’s stock in a transaction that occurred on Monday, August 18th. The shares were bought at an average cost of $239.80 per share, for a total transaction of $99,996.60. Following the purchase, the director owned 2,080 shares in the company, valued at $498,784. This trade represents a 25.08% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP John J. Rinello sold 105 shares of the business’s stock in a transaction 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 sale, the senior vice president owned 3,225 shares in the company, valued at approximately $805,314.75. The trade was a 3.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 3.60% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on IT. Barclays set a $270.00 price objective on Gartner and gave the stock an “equal weight” rating in a research report on Wednesday. Truist Financial began coverage on Gartner in a research report on Thursday, October 16th. They issued a “buy” rating and a $300.00 price objective on the stock. Royal Bank Of Canada started coverage on Gartner in a research report on Tuesday, September 9th. They issued a “sector perform” rating and a $263.00 price objective on the stock. UBS Group boosted their target price on Gartner from $270.00 to $280.00 and gave the company a “neutral” rating in a research note on Monday, October 6th. Finally, The Goldman Sachs Group lowered their target price on Gartner from $535.00 to $457.00 and set a “buy” rating on the stock in a research note on Wednesday, August 6th. Four equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $346.20.

About Gartner

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.