Rehmann Capital Advisory Group Sells 48 Shares of Gartner, Inc. $IT

Rehmann Capital Advisory Group decreased its position in shares of Gartner, Inc. (NYSE:IT) by 7.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 585 shares of the information technology services provider’s stock after selling 48 shares during the quarter. Rehmann Capital Advisory Group’s holdings in Gartner were worth $236,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of IT. T. Rowe Price Investment Management Inc. boosted 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 worth $447,751,000 after acquiring an additional 932,077 shares during the last quarter. Nuveen LLC bought a new position in Gartner during the 1st quarter worth approximately $128,318,000. JPMorgan Chase & Co. boosted 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 worth $522,813,000 after acquiring an additional 211,842 shares during the last quarter. Generation Investment Management LLP boosted 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 worth $563,015,000 after acquiring an additional 189,514 shares during the last quarter. Finally, Vanguard Group Inc. boosted 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 worth $3,959,596,000 after acquiring an additional 164,810 shares during the last quarter. Institutional investors own 91.51% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on IT. Weiss Ratings restated a “hold (c-)” rating on shares of Gartner in a 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 report on Monday, October 6th. Morgan Stanley set a $307.00 target price on shares of Gartner in a report on Monday, October 13th. Wells Fargo & Company dropped their target price on shares of Gartner from $345.00 to $225.00 and set an “underweight” rating on the stock in a report on Wednesday, August 6th. Finally, Truist Financial began coverage on shares of Gartner in a report on Thursday, October 16th. They set a “buy” rating and a $300.00 target price on the stock. Four research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $346.20.

Insider Buying and Selling

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 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 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 stock in a transaction dated Monday, August 18th. The stock was acquired at an average price of $239.80 per share, for a total transaction of $99,996.60. Following the completion of 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 ownership of the stock. The disclosure for this purchase can be found here. 2.30% of the stock is owned by company insiders.

Gartner Price Performance

NYSE IT opened at $250.40 on Friday. 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 12-month low of $223.65 and a 12-month high of $584.01. The company has a market capitalization of $18.97 billion, a PE ratio of 15.41 and a beta of 1.20. The firm’s 50 day moving average is $248.73 and its 200-day moving average is $340.30.

Gartner (NYSE:IT) last posted its quarterly earnings data 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 net margin of 19.71% and a return on equity of 82.63%. The company had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $1.68 billion. During the same period last year, the company earned $3.22 earnings per share. The firm’s 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 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.