Strategic Blueprint LLC Invests $479,000 in Gartner, Inc. $IT

Strategic Blueprint LLC purchased a new position in Gartner, Inc. (NYSE:IT) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 1,184 shares of the information technology services provider’s stock, valued at approximately $479,000.

Several other hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. lifted its position in shares of Gartner by 1.8% in 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 purchasing an additional 164,810 shares during the period. Generation Investment Management LLP lifted its position in shares of Gartner by 16.5% in 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 purchasing an additional 189,514 shares during the period. JPMorgan Chase & Co. lifted its position in shares of Gartner by 20.5% in 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 purchasing an additional 211,842 shares during the period. T. Rowe Price Investment Management Inc. lifted its position in shares of 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 worth $447,751,000 after purchasing an additional 932,077 shares during the period. Finally, Northern Trust Corp lifted its position 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 period. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Insiders Place Their Bets

In other Gartner news, Director Jose M. Gutierrez purchased 417 shares of the stock in a transaction on Monday, August 18th. The shares were bought at an average cost 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 in the company, valued at $498,784. This trade represents a 25.08% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP John J. Rinello sold 105 shares of the company’s stock in a transaction 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 completion of the sale, the senior vice president directly owned 3,225 shares in the company, valued at approximately $805,314.75. The trade was a 3.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.60% of the stock is owned by corporate insiders.

Gartner Trading Down 0.2%

NYSE IT opened at $250.40 on Monday. The company has a fifty day simple moving average of $248.73 and a two-hundred day simple moving average of $339.59. The stock has a market cap of $18.97 billion, a P/E ratio of 15.41 and a beta of 1.20. Gartner, Inc. has a 12-month low of $223.65 and a 12-month high of $584.01. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 1.61.

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

Wall Street Analysts Forecast Growth

IT has been the subject of a number of analyst reports. UBS Group increased their target price on shares of Gartner from $270.00 to $280.00 and gave the company a “neutral” rating in a research report on Monday, October 6th. The Goldman Sachs Group decreased their target price on shares of Gartner from $535.00 to $457.00 and set a “buy” rating for the company in a research report on Wednesday, August 6th. Weiss Ratings cut shares of Gartner from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Saturday. BMO Capital Markets decreased their target price on shares of Gartner from $409.00 to $272.00 and set a “market perform” rating for the company in a research report on Wednesday, August 6th. Finally, William Blair reissued an “outperform” rating on shares of Gartner in a research report on Tuesday, October 21st. Four research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $346.20.

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.