Gartner, Inc. $IT Shares Bought by PFG Advisors

PFG Advisors increased its stake in Gartner, Inc. (NYSE:IT) by 16.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,892 shares of the information technology services provider’s stock after acquiring an additional 840 shares during the period. PFG Advisors’ holdings in Gartner were worth $2,382,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC increased its position 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 acquiring an additional 6,352 shares in the last quarter. State of Michigan Retirement System lifted its position in shares of Gartner by 10.1% in the second quarter. State of Michigan Retirement System now owns 22,947 shares of the information technology services provider’s stock worth $9,276,000 after purchasing an additional 2,100 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in shares of Gartner by 10.2% during 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 purchasing an additional 1,150 shares during the period. Pallas Capital Advisors LLC grew its position in Gartner by 154.4% during the second quarter. Pallas Capital Advisors LLC now owns 3,445 shares of the information technology services provider’s stock valued at $1,393,000 after purchasing an additional 2,091 shares in the last quarter. Finally, Abacus FCF Advisors LLC grew its position in Gartner by 534.6% during the second quarter. Abacus FCF Advisors LLC now owns 36,889 shares of the information technology services provider’s stock valued at $14,911,000 after purchasing an additional 31,076 shares in the last quarter. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Gartner news, 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 of the company’s stock, valued at $805,314.75. The trade was a 3.15% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Jose M. Gutierrez bought 417 shares of the firm’s stock in a transaction dated Monday, August 18th. The shares were acquired at an average price of $239.80 per share, for a total transaction of $99,996.60. Following the completion of the transaction, the director owned 2,080 shares in the company, valued at $498,784. This represents a 25.08% increase in their position. The SEC filing for this purchase provides additional information. Insiders own 2.30% of the company’s stock.

Gartner Stock Performance

IT opened at $230.44 on Monday. The firm has a market capitalization of $17.45 billion, a P/E ratio of 14.18 and a beta of 1.19. The stock’s 50 day moving average price is $248.17 and its two-hundred day moving average price is $327.92. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 1.61. Gartner, Inc. has a 12-month low of $222.54 and a 12-month high of $584.01.

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, topping the consensus estimate of $2.41 by $0.35. The business had revenue of $1.52 billion for the quarter, compared to the consensus estimate of $1.52 billion. Gartner had a net margin of 19.71% and a return on equity of 82.63%. Gartner has set its FY 2025 guidance at 12.650- EPS. On average, equities analysts forecast that Gartner, Inc. will post 12.5 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on IT. Weiss Ratings cut shares of Gartner from a “hold (c-)” rating to a “sell (d+)” rating in a report on Saturday, October 25th. Wells Fargo & Company cut their target price on Gartner from $231.00 to $218.00 and set an “underweight” rating on the stock in a report on Wednesday, November 5th. UBS Group lowered their price objective on Gartner from $280.00 to $256.00 and set a “neutral” rating on the stock in a report on Wednesday, November 5th. Royal Bank Of Canada began coverage on Gartner in a research report on Tuesday, September 9th. They set a “sector perform” rating and a $263.00 target price for the company. Finally, Truist Financial assumed coverage on Gartner in a report on Thursday, October 16th. They set a “buy” rating and a $300.00 price target on the stock. Four research analysts have rated the stock with a Buy rating, six have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $311.67.

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.