Gartner, Inc. $IT Shares Sold by Salem Investment Counselors Inc.

Salem Investment Counselors Inc. reduced its stake in shares of Gartner, Inc. (NYSE:IT) by 58.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,143 shares of the information technology services provider’s stock after selling 2,984 shares during the period. Salem Investment Counselors Inc.’s holdings in Gartner were worth $866,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the business. Kera Capital Partners Inc. acquired a new position in shares of Gartner in the 2nd quarter valued at about $236,000. AG2R LA Mondiale Gestion D Actifs acquired a new position in Gartner in the 1st quarter worth about $1,347,000. eCIO Inc. purchased a new position in Gartner in the 1st quarter valued at about $160,000. First Hawaiian Bank boosted its holdings in Gartner by 19.1% in the 1st quarter. First Hawaiian Bank now owns 2,572 shares of the information technology services provider’s stock worth $1,080,000 after buying an additional 413 shares during the last quarter. Finally, Acadian Asset Management LLC boosted its holdings in Gartner by 15,241.6% in the 1st quarter. Acadian Asset Management LLC now owns 60,906 shares of the information technology services provider’s stock worth $25,553,000 after buying an additional 60,509 shares during the last quarter. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Insider Activity

In other news, Director Jose M. Gutierrez purchased 417 shares of the firm’s stock in a transaction on Monday, August 18th. The shares were bought at an average cost of $239.80 per share, with a total value of $99,996.60. Following the purchase, the director directly owned 2,080 shares of the company’s stock, valued at approximately $498,784. This trade represents a 25.08% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP John J. Rinello sold 105 shares of the business’s stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $249.71, for a total transaction of $26,219.55. Following the completion of the sale, the senior vice president owned 3,225 shares of the company’s stock, 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. Company insiders own 2.30% of the company’s stock.

Gartner Trading Up 2.6%

Shares of Gartner stock opened at $247.40 on Monday. The company has a fifty day simple moving average of $292.34 and a 200-day simple moving average of $378.76. Gartner, Inc. has a 12-month low of $223.65 and a 12-month high of $584.01. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 1.61. The stock has a market cap of $18.74 billion, a price-to-earnings ratio of 15.22 and a beta of 1.20.

Gartner (NYSE:IT) last issued its quarterly earnings results on Tuesday, August 5th. The information technology services provider reported $3.53 earnings per share for the quarter, topping analysts’ consensus estimates of $3.38 by $0.15. Gartner had a net margin of 19.71% and a return on equity of 82.63%. The firm had revenue of $1.66 billion during the quarter, compared to analysts’ expectations of $1.68 billion. During the same quarter in the prior year, the business earned $3.22 EPS. Gartner’s quarterly revenue 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 analysts forecast that Gartner, Inc. will post 12.5 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently weighed in on IT. Wells Fargo & Company lowered their price target on shares of Gartner from $345.00 to $225.00 and set an “underweight” rating on the stock in a research report on Wednesday, August 6th. The Goldman Sachs Group reduced their price target on shares of Gartner from $535.00 to $457.00 and set a “buy” rating on the stock in a research note on Wednesday, August 6th. BMO Capital Markets reduced their price target on shares of Gartner from $409.00 to $272.00 and set a “market perform” rating on the stock in a research note on Wednesday, August 6th. Morgan Stanley reduced their price target on shares of Gartner from $455.00 to $322.00 and set an “equal weight” rating on the stock in a research note on Wednesday, August 6th. Finally, UBS Group reissued a “neutral” rating and issued a $270.00 price target (down from $480.00) on shares of Gartner in a research note on Wednesday, August 6th. Three equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Gartner presently has a consensus rating of “Hold” and an average price target of $357.44.

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.