NBC Securities Inc. Increases Stock Position in Gartner, Inc. $IT

NBC Securities Inc. increased its position in Gartner, Inc. (NYSE:IT) by 3.2% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,452 shares of the information technology services provider’s stock after acquiring an additional 108 shares during the period. NBC Securities Inc.’s holdings in Gartner were worth $1,395,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in IT. T. Rowe Price Investment Management Inc. raised its stake in Gartner by 692.2% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 1,066,732 shares of the information technology services provider’s stock valued at $447,751,000 after buying an additional 932,077 shares during the last quarter. GAMMA Investing LLC raised its stake in Gartner by 40,841.0% during the 1st quarter. GAMMA Investing LLC now owns 499,071 shares of the information technology services provider’s stock valued at $209,480,000 after buying an additional 497,852 shares during the last quarter. Nuveen LLC purchased a new stake in Gartner during the 1st quarter valued at $128,318,000. JPMorgan Chase & Co. raised its stake in Gartner by 20.5% during the 1st quarter. JPMorgan Chase & Co. now owns 1,245,563 shares of the information technology services provider’s stock valued at $522,813,000 after buying an additional 211,842 shares during the last quarter. Finally, Generation Investment Management LLP raised its stake in Gartner by 16.5% during the 1st quarter. Generation Investment Management LLP now owns 1,341,342 shares of the information technology services provider’s stock valued at $563,015,000 after buying an additional 189,514 shares during the last quarter. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Gartner news, SVP John J. Rinello sold 105 shares of the stock in a transaction dated 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 transaction, the senior vice president owned 3,225 shares of the company’s stock, valued at $805,314.75. This represents a 3.15% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jose M. Gutierrez acquired 417 shares of the company’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 acquisition, the director directly owned 2,080 shares in the company, valued at approximately $498,784. The trade was a 25.08% increase in their ownership of the stock. The disclosure for this purchase can be found here. 3.60% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. BMO Capital Markets decreased their target price on shares of Gartner from $409.00 to $272.00 and set a “market perform” rating for the company in a research note on Wednesday, August 6th. UBS Group reiterated a “neutral” rating and set a $270.00 target price (down from $480.00) on shares of Gartner in a research note on Wednesday, August 6th. Morgan Stanley decreased their target price on shares of Gartner from $455.00 to $322.00 and set an “equal weight” rating for the company in a research note on Wednesday, August 6th. The Goldman Sachs Group reduced their price objective on Gartner from $535.00 to $457.00 and set a “buy” rating for the company in a research note on Wednesday, August 6th. Finally, Barclays reduced their price objective on Gartner from $475.00 to $320.00 and set an “overweight” rating for the company in a research note on Wednesday, August 6th. Three analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Gartner presently has an average rating of “Hold” and an average price target of $357.44.

Gartner Trading Down 0.0%

Shares of Gartner stock opened at $247.29 on Tuesday. The company has a market capitalization of $18.73 billion, a P/E ratio of 15.22 and a beta of 1.20. The company has a debt-to-equity ratio of 1.61, a quick ratio of 1.11 and a current ratio of 1.11. The company has a fifty day moving average of $289.30 and a 200 day moving average of $377.00. Gartner, Inc. has a fifty-two week low of $223.65 and a fifty-two week high of $584.01.

Gartner (NYSE:IT) last issued its earnings results on Tuesday, August 5th. The information technology services provider reported $3.53 earnings per share for the quarter, topping the consensus estimate of $3.38 by $0.15. Gartner had a net margin of 19.71% and a return on equity of 82.63%. The company had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.68 billion. During the same quarter in the prior year, the firm posted $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, sell-side analysts anticipate 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.