Gartner, Inc. $IT Shares Sold by Wilmington Savings Fund Society FSB

Wilmington Savings Fund Society FSB cut its stake in Gartner, Inc. (NYSE:IT) by 37.0% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,370 shares of the information technology services provider’s stock after selling 805 shares during the period. Wilmington Savings Fund Society FSB’s holdings in Gartner were worth $554,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in IT. T. Rowe Price Investment Management Inc. grew its holdings in Gartner by 692.2% in 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 in the last quarter. Nuveen LLC acquired a new position in shares of Gartner during the 1st quarter valued at about $128,318,000. JPMorgan Chase & Co. grew its holdings in shares of Gartner by 20.5% in the first quarter. JPMorgan Chase & Co. now owns 1,245,563 shares of the information technology services provider’s stock valued at $522,813,000 after purchasing an additional 211,842 shares during the period. Generation Investment Management LLP increased its position in Gartner by 16.5% during the first quarter. Generation Investment Management LLP now owns 1,341,342 shares of the information technology services provider’s stock worth $563,015,000 after purchasing an additional 189,514 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in Gartner by 1.8% during the first quarter. Vanguard Group Inc. now owns 9,433,449 shares of the information technology services provider’s stock worth $3,959,596,000 after purchasing an additional 164,810 shares during the period. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Insider Activity

In other news, Director Jose M. Gutierrez bought 417 shares of the stock in a transaction that occurred on Monday, August 18th. The stock was bought at an average cost of $239.80 per share, for a total transaction of $99,996.60. Following the acquisition, the director directly owned 2,080 shares of the company’s stock, valued at $498,784. The trade was a 25.08% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP John J. Rinello sold 105 shares of the business’s 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 sale, the senior vice president owned 3,225 shares in the company, valued at $805,314.75. This trade represents a 3.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.30% of the stock is currently owned by corporate insiders.

Gartner Stock Performance

NYSE:IT opened at $235.63 on Friday. Gartner, Inc. has a fifty-two week low of $223.65 and a fifty-two week 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. The company has a 50 day moving average price of $247.30 and a 200 day moving average price of $345.25. The stock has a market capitalization of $17.85 billion, a P/E ratio of 14.50 and a beta of 1.20.

Gartner (NYSE:IT) last announced its 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. Gartner had a return on equity of 82.63% and a net margin of 19.71%.The company had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.68 billion. During the same quarter in the previous year, the company earned $3.22 earnings per share. The firm’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. Equities research analysts forecast that Gartner, Inc. will post 12.5 EPS for the current year.

Analyst Ratings Changes

Several analysts have recently weighed in on IT shares. BMO Capital Markets dropped their price target 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. The Goldman Sachs Group lowered their price objective on Gartner from $535.00 to $457.00 and set a “buy” rating for the company in a research report on Wednesday, August 6th. Truist Financial started coverage on Gartner in a research note on Thursday. They set a “buy” rating and a $300.00 target price for the company. UBS Group upped their price target on Gartner from $270.00 to $280.00 and gave the company a “neutral” rating in a research note on Monday, October 6th. Finally, Wells Fargo & Company lowered their price target on Gartner from $345.00 to $225.00 and set an “underweight” rating for the company in a report on Wednesday, August 6th. Four equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $351.20.

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.