Kendall Capital Management Takes $332,000 Position in Gartner, Inc. $IT

Kendall Capital Management bought a new stake in Gartner, Inc. (NYSE:IT) in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 2,558 shares of the information technology services provider’s stock, valued at approximately $332,000.

A number of other hedge funds have also recently added to or reduced their stakes in IT. Oppenheimer Asset Management Inc. acquired a new position in shares of Gartner in the 2nd quarter valued at $2,872,000. Plato Investment Management Ltd boosted its stake in Gartner by 293.4% during the 4th quarter. Plato Investment Management Ltd now owns 9,002 shares of the information technology services provider’s stock worth $2,282,000 after purchasing an additional 6,714 shares during the period. Ashton Thomas Private Wealth LLC acquired a new stake in Gartner during the 4th quarter worth $3,318,000. Wedge Capital Management L L P NC boosted its stake in Gartner by 34.1% during the 2nd quarter. Wedge Capital Management L L P NC now owns 54,196 shares of the information technology services provider’s stock worth $7,025,000 after purchasing an additional 13,776 shares during the period. Finally, Bank of America Corp DE grew its position in Gartner by 60.1% during the 1st quarter. Bank of America Corp DE now owns 773,771 shares of the information technology services provider’s stock worth $122,519,000 after purchasing an additional 290,499 shares during the last quarter. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Insider Transactions at Gartner

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

Wall Street Analyst Weigh In

A number of research firms have commented on IT. The Goldman Sachs Group lifted their price objective on shares of Gartner from $162.00 to $181.00 and gave the company a “neutral” rating in a research note on Wednesday, August 5th. Royal Bank Of Canada raised their price target on Gartner from $160.00 to $164.00 and gave the stock a “sector perform” rating in a report on Wednesday, August 5th. Weiss Ratings upgraded Gartner from a “sell (d)” rating to a “sell (d+)” rating in a research report on Thursday, August 13th. Morgan Stanley set a $177.00 price objective on Gartner in a research note on Wednesday, August 5th. Finally, Wells Fargo & Company upped their price objective on Gartner from $120.00 to $150.00 and gave the company an “underweight” rating in a research note on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Gartner presently has a consensus rating of “Hold” and an average price target of $187.30.

Gartner Price Performance

Gartner stock opened at $195.92 on Friday. The company has a market cap of $12.37 billion, a P/E ratio of 17.57, a price-to-earnings-growth ratio of 0.65 and a beta of 0.94. Gartner, Inc. has a one year low of $124.25 and a one year high of $265.85. The business has a fifty day moving average of $151.55 and a two-hundred day moving average of $155.15. 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 (NYSE:IT) last posted its quarterly earnings results on Tuesday, August 4th. The information technology services provider reported $4.37 earnings per share for the quarter, topping analysts’ consensus estimates of $3.76 by $0.61. The business had revenue of $1.68 billion for the quarter, compared to analysts’ expectations of $1.65 billion. Gartner had a net margin of 11.99% and a return on equity of 525.46%. The business’s revenue for the quarter was down .6% on a year-over-year basis. During the same period in the prior year, the company posted $3.53 EPS. Gartner has set its FY 2026 guidance at 14.000- EPS. As a group, analysts predict that Gartner, Inc. will post 14.42 earnings per share for the current fiscal year.

About Gartner

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.