Nicholas Company Inc. Sells 2,390 Shares of Gartner, Inc. $IT

Nicholas Company Inc. lessened its holdings in shares of Gartner, Inc. (NYSE:IT) by 5.5% in the second quarter, Holdings Channel.com reports. The firm owned 40,693 shares of the information technology services provider’s stock after selling 2,390 shares during the period. Nicholas Company Inc.’s holdings in Gartner were worth $16,449,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC increased its stake in shares of Gartner by 22.2% in the second 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 in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in shares of Gartner by 10.2% in 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 purchasing an additional 1,150 shares in the last quarter. Pallas Capital Advisors LLC increased its stake in shares of Gartner by 154.4% in 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 purchasing an additional 2,091 shares in the last quarter. Bright Rock Capital Management LLC purchased a new position in shares of Gartner in the second quarter worth about $1,859,000. Finally, Abacus FCF Advisors LLC increased its stake in shares of Gartner by 534.6% in 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 purchasing an additional 31,076 shares in the last quarter. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Gartner Trading Down 0.1%

Shares of Gartner stock opened at $248.25 on Friday. The firm has a market cap of $18.80 billion, a PE ratio of 15.28 and a beta of 1.20. Gartner, Inc. has a 1 year low of $223.65 and a 1 year high of $584.01. The company has a 50 day simple moving average of $249.44 and a two-hundred day simple moving average of $334.31. 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 (NYSE:IT) last posted its quarterly earnings results on Tuesday, August 5th. The information technology services provider reported $3.53 EPS for the quarter, topping the consensus estimate of $3.38 by $0.15. The firm 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 business’s 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. Analysts expect that Gartner, Inc. will post 12.5 earnings per share for the current fiscal year.

Insider Activity at Gartner

In other Gartner news, Director Jose M. Gutierrez purchased 417 shares of the firm’s stock in a transaction on Monday, August 18th. The shares were purchased at an average cost 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. The trade was a 25.08% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP John J. Rinello sold 105 shares of Gartner stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $249.71, for a total transaction of $26,219.55. Following the transaction, 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 SEC filing for this sale provides additional information. Company insiders own 2.30% of the company’s stock.

Analysts Set New Price Targets

IT has been the subject of a number of analyst reports. BMO Capital Markets cut their price objective 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. William Blair restated an “outperform” rating on shares of Gartner in a research report on Tuesday, October 21st. Wells Fargo & Company raised their price objective on shares of Gartner from $225.00 to $231.00 and gave the company an “underweight” rating in a research report on Wednesday. Royal Bank Of Canada initiated coverage on shares of Gartner in a research report on Tuesday, September 9th. They issued a “sector perform” rating and a $263.00 price objective for the company. Finally, Truist Financial initiated coverage on shares of Gartner in a research report on Thursday, October 16th. They issued a “buy” rating and a $300.00 price objective for the company. Four research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Gartner currently has an average rating of “Hold” and a consensus price target of $346.80.

Gartner 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.