Gartner, Inc. $IT Shares Sold by OFI Invest Asset Management

OFI Invest Asset Management decreased its stake in shares of Gartner, Inc. (NYSE:IT) by 96.5% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 246 shares of the information technology services provider’s stock after selling 6,701 shares during the period. OFI Invest Asset Management’s holdings in Gartner were worth $99,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in Gartner by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 9,433,449 shares of the information technology services provider’s stock valued at $3,959,596,000 after buying an additional 164,810 shares during the period. Generation Investment Management LLP increased 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 period. JPMorgan Chase & Co. increased 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 period. T. Rowe Price Investment Management Inc. increased 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 period. Finally, Northern Trust Corp grew its stake in shares of Gartner by 11.0% in the 1st quarter. Northern Trust Corp now owns 1,006,655 shares of the information technology services provider’s stock worth $422,533,000 after purchasing an additional 99,822 shares during the last quarter. Institutional investors and hedge funds own 91.51% of the company’s stock.

Gartner Stock Performance

Gartner stock opened at $239.66 on Monday. The firm’s 50 day simple moving average is $248.97 and its 200-day simple moving average is $350.43. The company has a market cap of $18.15 billion, a P/E ratio of 14.75 and a beta of 1.20. The company has a debt-to-equity ratio of 1.61, a current ratio of 1.11 and a quick ratio of 1.11. Gartner, Inc. has a fifty-two week low of $223.65 and a fifty-two week high of $584.01.

Gartner (NYSE:IT) last released 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. 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 firm’s quarterly revenue was up 5.7% compared to the same quarter last year. During the same period last year, the firm posted $3.22 earnings per share. Gartner has set its FY 2025 guidance at 11.750- EPS. As a group, equities research analysts predict that Gartner, Inc. will post 12.5 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. UBS Group lifted their price objective on shares of Gartner from $270.00 to $280.00 and gave the stock a “neutral” rating in a research note on Monday, October 6th. Morgan Stanley lowered their price objective 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. Wells Fargo & Company lowered their price objective on shares of Gartner from $345.00 to $225.00 and set an “underweight” rating on the stock in a research note on Wednesday, August 6th. BMO Capital Markets lowered their price objective 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. Finally, Royal Bank Of Canada assumed coverage on shares of Gartner in a research note on Tuesday, September 9th. They issued a “sector perform” rating and a $263.00 price objective on the stock. Three research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Gartner currently has a consensus rating of “Hold” and an average target price of $358.56.

Insider Activity at Gartner

In other news, SVP John J. Rinello sold 105 shares of Gartner stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $249.71, for a total value of $26,219.55. Following the transaction, the senior vice president directly owned 3,225 shares of the company’s stock, valued at $805,314.75. This trade represents a 3.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Jose M. Gutierrez purchased 417 shares of the firm’s stock in a transaction that occurred on Monday, August 18th. The shares were bought at an average price of $239.80 per share, with a total value of $99,996.60. Following the completion of the acquisition, the director owned 2,080 shares of the company’s stock, valued at $498,784. This trade represents a 25.08% increase in their position. The disclosure for this purchase can be found here. Company insiders own 3.60% of the company’s stock.

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.