Perigon Wealth Management LLC Buys Shares of 3,837 Gartner, Inc. $IT

Perigon Wealth Management LLC bought a new stake in Gartner, Inc. (NYSE:IT) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 3,837 shares of the information technology services provider’s stock, valued at approximately $497,000.

A number of other hedge funds have also made changes to their positions in the stock. J. Stern & Co. LLP grew its position in Gartner by 8,182.0% during the fourth quarter. J. Stern & Co. LLP now owns 1,536,890 shares of the information technology services provider’s stock valued at $387,727,000 after purchasing an additional 1,518,333 shares in the last quarter. Norges Bank purchased a new stake in Gartner in the 4th quarter worth approximately $299,576,000. Northwestern Mutual Wealth Management Co. lifted its position in Gartner by 108,812.1% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,025,952 shares of the information technology services provider’s stock worth $258,827,000 after buying an additional 1,025,010 shares in the last quarter. Capital International Investors boosted its stake in shares of Gartner by 28.3% during the 4th quarter. Capital International Investors now owns 4,004,093 shares of the information technology services provider’s stock valued at $1,010,153,000 after buying an additional 884,250 shares during the period. Finally, AQR Capital Management LLC boosted its stake in shares of Gartner by 51.9% during the 4th quarter. AQR Capital Management LLC now owns 1,892,004 shares of the information technology services provider’s stock valued at $477,315,000 after buying an additional 646,052 shares during the period. 91.51% of the stock is owned by hedge funds and other institutional investors.

Gartner Stock Up 6.1%

Shares of IT stock opened at $193.18 on Thursday. The stock’s 50 day simple moving average is $149.70 and its 200 day simple moving average is $154.98. The company has a debt-to-equity ratio of 46.98, a quick ratio of 0.88 and a current ratio of 0.88. Gartner, Inc. has a twelve month low of $124.25 and a twelve month high of $265.85. The company has a market capitalization of $12.20 billion, a price-to-earnings ratio of 17.33, a PEG ratio of 0.60 and a beta of 0.94.

Gartner (NYSE:IT) last announced its earnings results on Tuesday, August 4th. The information technology services provider reported $4.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.76 by $0.61. Gartner had a return on equity of 525.46% and a net margin of 11.99%.The firm had revenue of $1.68 billion during the quarter, compared to analysts’ expectations of $1.65 billion. During the same quarter in the prior year, the business earned $3.53 earnings per share. The company’s revenue was down .6% on a year-over-year basis. Gartner has set its FY 2026 guidance at 14.000- EPS. As a group, research analysts predict that Gartner, Inc. will post 14.44 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on IT shares. UBS Group upped their price target on shares of Gartner from $164.00 to $196.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 5th. Wells Fargo & Company boosted their target price on Gartner from $120.00 to $150.00 and gave the company an “underweight” rating in a research note on Wednesday, August 5th. BMO Capital Markets dropped their target price on Gartner from $214.00 to $206.00 and set a “market perform” rating on the stock in a research report on Tuesday. The Goldman Sachs Group raised their price target on Gartner from $162.00 to $181.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 5th. Finally, Royal Bank Of Canada lifted their price target on Gartner from $160.00 to $164.00 and gave the company a “sector perform” rating in a report on Wednesday, August 5th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $187.30.

Insiders Place Their Bets

In related news, Director Anne Sutherland Fuchs sold 860 shares of the company’s stock in a transaction on Friday, August 7th. The shares were sold at an average price of $184.30, for a total transaction of $158,498.00. Following the completion of the sale, the director directly owned 8,097 shares of the company’s stock, valued at approximately $1,492,277.10. This represents a 9.60% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Yvonne Genovese sold 1,205 shares of the firm’s stock in a transaction on Monday, August 10th. The shares were sold at an average price of $190.06, for a total transaction of $229,022.30. Following the completion of the transaction, the executive vice president owned 6,208 shares in the company, valued at $1,179,892.48. The trade was a 16.26% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 2.60% of the stock is currently owned by insiders.

Gartner Profile

Gartner, Inc is a global research and advisory firm that provides insights, advice and tools for leaders in IT, finance, HR, customer service and other business functions. Founded in 1979 and headquartered in Stamford, Connecticut, Gartner specializes in helping organizations make informed decisions about technology, operations and strategy through a combination of published research, advisory services, consulting, executive programs and events.

The company’s offerings include proprietary research reports, market forecasts, and analytical frameworks that are widely used by technology buyers and vendors.