Chevy Chase Trust Holdings LLC Boosts Stake in Gartner, Inc. $IT

Chevy Chase Trust Holdings LLC raised its position in Gartner, Inc. (NYSE:IT) by 1.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 40,729 shares of the information technology services provider’s stock after purchasing an additional 440 shares during the quarter. Chevy Chase Trust Holdings LLC owned 0.05% of Gartner worth $16,463,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC raised its position in Gartner by 22.2% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 34,964 shares of the information technology services provider’s stock worth $13,995,000 after purchasing an additional 6,352 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in shares of 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 period. Pallas Capital Advisors LLC increased its position in shares of 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 acquiring an additional 2,091 shares during the period. Bright Rock Capital Management LLC purchased a new position in shares of Gartner during the second quarter worth approximately $1,859,000. Finally, Abacus FCF Advisors LLC increased its position in shares of 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 acquiring an additional 31,076 shares during the period. 91.51% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

IT has been the topic of a number of research reports. Truist Financial initiated coverage on shares of Gartner in a research report on Thursday. They set a “buy” rating and a $300.00 target price on the stock. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Gartner in a research report on Wednesday, October 8th. UBS Group raised their target price on shares of Gartner from $270.00 to $280.00 and gave the stock a “neutral” rating in a research report on Monday, October 6th. BMO Capital Markets reduced their target price on shares of Gartner from $409.00 to $272.00 and set a “market perform” rating on the stock in a research report on Wednesday, August 6th. Finally, Royal Bank Of Canada started coverage on shares of Gartner in a research report on Tuesday, September 9th. They set a “sector perform” rating and a $263.00 target price on the stock. Four equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Gartner currently has an average rating of “Hold” and a consensus target price of $351.20.

Insider Activity at Gartner

In other Gartner news, SVP John J. Rinello sold 105 shares of the firm’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 value of $26,219.55. Following the completion of the sale, the senior vice president directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jose M. Gutierrez bought 417 shares of the stock in a transaction on Monday, August 18th. The stock was purchased at an average price of $239.80 per share, with a total value of $99,996.60. Following the completion of the purchase, the director owned 2,080 shares of the company’s stock, valued at $498,784. This 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 owned by company insiders.

Gartner Stock Performance

Shares of IT stock opened at $235.63 on Friday. The firm has a market cap of $17.85 billion, a price-to-earnings ratio of 14.50 and a beta of 1.20. The company’s 50 day moving average is $247.30 and its 200 day moving average is $344.70. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 1.61. Gartner, Inc. has a 52-week low of $223.65 and a 52-week high of $584.01.

Gartner (NYSE:IT) last issued its quarterly earnings data on Tuesday, August 5th. The information technology services provider reported $3.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.38 by $0.15. The company had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.68 billion. Gartner had a net margin of 19.71% and a return on equity of 82.63%. Gartner’s revenue was up 5.7% compared to the same quarter last year. During the same period last year, the company posted $3.22 earnings per share. Gartner has set its FY 2025 guidance at 11.750- EPS. On average, sell-side analysts anticipate that Gartner, Inc. will post 12.5 EPS for the current fiscal 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.