Gartner, Inc. $IT Shares Sold by Hartford Investment Management Co.

Hartford Investment Management Co. cut its holdings in shares of Gartner, Inc. (NYSE:IT) by 1.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,615 shares of the information technology services provider’s stock after selling 67 shares during the quarter. Hartford Investment Management Co.’s holdings in Gartner were worth $1,865,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC boosted its position in Gartner by 22.2% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 34,964 shares of the information technology services provider’s stock worth $13,995,000 after acquiring an additional 6,352 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in Gartner by 10.2% during the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 12,433 shares of the information technology services provider’s stock worth $5,026,000 after acquiring an additional 1,150 shares during the last quarter. Bright Rock Capital Management LLC purchased a new position in Gartner during the second quarter worth about $1,859,000. Pallas Capital Advisors LLC raised its stake in Gartner by 154.4% during the second quarter. Pallas Capital Advisors LLC now owns 3,445 shares of the information technology services provider’s stock worth $1,393,000 after purchasing an additional 2,091 shares during the period. Finally, Abacus FCF Advisors LLC raised its stake in Gartner by 534.6% during the second quarter. Abacus FCF Advisors LLC now owns 36,889 shares of the information technology services provider’s stock worth $14,911,000 after purchasing an additional 31,076 shares during the period. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, SVP John J. Rinello sold 105 shares of the company’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 sale, the senior vice president directly owned 3,225 shares of the company’s stock, valued at $805,314.75. This represents a 3.15% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jose M. Gutierrez bought 417 shares of the business’s stock in a transaction that occurred on Monday, August 18th. The shares were acquired at an average cost of $239.80 per share, for a total transaction of $99,996.60. Following the completion of the purchase, the director 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. 2.30% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of brokerages have commented on IT. UBS Group reaffirmed 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. Barclays reduced their target price on shares of Gartner from $475.00 to $320.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 6th. Morgan Stanley reduced their target price 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. The Goldman Sachs Group reduced their target price 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. Finally, Wolfe Research began coverage on shares of Gartner in a research note on Wednesday, September 3rd. They set a “peer perform” rating on the stock. Three analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $357.44.

Gartner Price Performance

Gartner stock opened at $263.92 on Friday. The company’s 50 day simple moving average is $268.42 and its 200-day simple moving average is $363.94. The company has a market capitalization of $19.99 billion, a price-to-earnings ratio of 16.24 and a beta of 1.20. Gartner, Inc. has a 1 year low of $223.65 and a 1 year high of $584.01. The company has a debt-to-equity ratio of 1.61, a quick ratio of 1.11 and a current ratio of 1.11.

Gartner (NYSE:IT) last released its quarterly earnings results on Tuesday, August 5th. The information technology services provider reported $3.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.38 by $0.15. The business had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $1.68 billion. Gartner had a net margin of 19.71% and a return on equity of 82.63%. The business’s revenue was up 5.7% on a year-over-year basis. During the same period in the previous year, the firm earned $3.22 EPS. Gartner has set its FY 2025 guidance at 11.750- EPS. As a group, equities research analysts expect that Gartner, Inc. will post 12.5 earnings per share for the current year.

Gartner Company Profile

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.