Gartner, Inc. $IT Shares Sold by MAI Capital Management

MAI Capital Management trimmed its position in Gartner, Inc. (NYSE:IT) by 3.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 15,578 shares of the information technology services provider’s stock after selling 607 shares during the period. MAI Capital Management’s holdings in Gartner were worth $6,539,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. DAVENPORT & Co LLC raised its stake in shares of Gartner by 11.5% in the 1st quarter. DAVENPORT & Co LLC now owns 921 shares of the information technology services provider’s stock worth $387,000 after buying an additional 95 shares in the last quarter. HighPoint Advisor Group LLC grew its holdings in Gartner by 3.6% during the first quarter. HighPoint Advisor Group LLC now owns 1,145 shares of the information technology services provider’s stock worth $482,000 after acquiring an additional 40 shares during the period. SG Americas Securities LLC raised its position in Gartner by 3.6% in the first quarter. SG Americas Securities LLC now owns 42,389 shares of the information technology services provider’s stock worth $17,792,000 after acquiring an additional 1,484 shares in the last quarter. Brighton Jones LLC acquired a new stake in Gartner in the 4th quarter valued at about $309,000. Finally, Wealth Enhancement Advisory Services LLC boosted its position in shares of Gartner by 1.2% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 28,612 shares of the information technology services provider’s stock valued at $12,009,000 after purchasing an additional 352 shares in the last quarter. 91.51% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently commented on IT shares. Barclays dropped their target price on shares of Gartner from $475.00 to $320.00 and set an “overweight” rating on the stock in a report on Wednesday, August 6th. Morgan Stanley dropped their price target on Gartner from $455.00 to $322.00 and set an “equal weight” rating on the stock in a report on Wednesday, August 6th. Wells Fargo & Company reduced their price objective on Gartner from $345.00 to $225.00 and set an “underweight” rating for the company in a research note on Wednesday, August 6th. The Goldman Sachs Group cut their target price on Gartner from $535.00 to $457.00 and set a “buy” rating on the stock in a research report on Wednesday, August 6th. Finally, BMO Capital Markets reduced their target price on Gartner from $409.00 to $272.00 and set a “market perform” rating for the company in a report on Wednesday, August 6th. Three analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $369.25.

Insider Transactions at Gartner

In other Gartner news, SVP John J. Rinello sold 105 shares of Gartner stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $249.71, for a total transaction of $26,219.55. Following the transaction, 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 transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Jose M. Gutierrez bought 417 shares of the company’s stock in a transaction dated Monday, August 18th. The stock was acquired at an average price of $239.80 per share, for a total transaction of $99,996.60. Following the acquisition, the director directly owned 2,080 shares in the company, valued at $498,784. This trade represents a 25.08% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 3.60% of the company’s stock.

Gartner Price Performance

Shares of NYSE:IT opened at $251.07 on Tuesday. The company’s fifty day moving average is $320.80 and its two-hundred day moving average is $395.06. The company has a market cap of $19.02 billion, a P/E ratio of 15.45 and a beta of 1.20. Gartner, Inc. has a 12-month low of $223.65 and a 12-month high of $584.01. 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 (NYSE:IT) last issued its earnings results on Tuesday, August 5th. The information technology services provider reported $3.53 EPS for the quarter, topping the consensus estimate of $3.38 by $0.15. The business had revenue of $1.66 billion during 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%.Gartner’s revenue was up 5.7% compared to the same quarter last year. During the same quarter last year, the firm posted $3.22 earnings per share. Gartner has set its FY 2025 guidance at 11.750- EPS. Equities analysts expect that Gartner, Inc. will post 12.5 earnings per share for the current fiscal year.

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.