SVB Wealth LLC Makes New Investment in Gartner, Inc. $IT

SVB Wealth LLC bought a new position in Gartner, Inc. (NYSE:IT) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 3,254 shares of the information technology services provider’s stock, valued at approximately $1,315,000.

Several other institutional investors have also recently added to or reduced their stakes in IT. Aviva PLC boosted its holdings in shares of Gartner by 6.1% in the 2nd quarter. Aviva PLC now owns 58,559 shares of the information technology services provider’s stock worth $23,671,000 after acquiring an additional 3,390 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in 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. State of Michigan Retirement System grew its holdings in shares of Gartner by 10.1% during the second quarter. State of Michigan Retirement System now owns 22,947 shares of the information technology services provider’s stock worth $9,276,000 after purchasing an additional 2,100 shares during the last quarter. Edgestream Partners L.P. raised its holdings in shares of Gartner by 774.5% in the second quarter. Edgestream Partners L.P. now owns 22,080 shares of the information technology services provider’s stock valued at $8,925,000 after buying an additional 19,555 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd increased its position in Gartner by 10.2% in the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 12,433 shares of the information technology services provider’s stock valued at $5,026,000 after acquiring an additional 1,150 shares in the last quarter. 91.51% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on IT shares. Barclays reduced their price objective on Gartner from $270.00 to $260.00 and set an “equal weight” rating on the stock in a report on Wednesday, November 5th. Weiss Ratings lowered shares of Gartner from a “hold (c-)” rating to a “sell (d+)” rating in a report on Saturday, October 25th. William Blair restated an “outperform” rating on shares of Gartner in a research report on Tuesday, October 21st. Wells Fargo & Company lowered their price target on Gartner from $231.00 to $218.00 and set an “underweight” rating for the company in a research note on Wednesday, November 5th. Finally, Morgan Stanley set a $307.00 price objective on shares of Gartner in a report on Monday, October 13th. Four equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Gartner currently has an average rating of “Hold” and a consensus target price of $311.67.

Gartner Trading Down 1.2%

Shares of NYSE:IT opened at $226.93 on Tuesday. The company’s fifty day simple moving average is $239.22 and its 200 day simple moving average is $297.64. The firm has a market cap of $16.36 billion, a price-to-earnings ratio of 19.91 and a beta of 1.08. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 4.42. Gartner, Inc. has a 12 month low of $222.54 and a 12 month high of $584.01.

Gartner (NYSE:IT) last posted its quarterly earnings data on Tuesday, November 4th. The information technology services provider reported $2.76 earnings per share for the quarter, topping the consensus estimate of $2.41 by $0.35. Gartner had a return on equity of 92.12% and a net margin of 13.71%.The company had revenue of $1.52 billion during the quarter, compared to analysts’ expectations of $1.52 billion. Gartner has set its FY 2025 guidance at 12.650- EPS. As a group, research analysts forecast that Gartner, Inc. will post 12.5 EPS for the current fiscal year.

Insider Activity

In other news, EVP Claire Herkes sold 367 shares of Gartner stock in a transaction dated Wednesday, December 3rd. The shares were sold at an average price of $231.56, for a total value of $84,982.52. Following the completion of the transaction, the executive vice president owned 4,074 shares of the company’s stock, valued at $943,375.44. This trade represents a 8.26% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP John J. Rinello sold 220 shares of the business’s stock in a transaction that occurred on Wednesday, December 3rd. The stock was sold at an average price of $229.57, for a total value of $50,505.40. Following the transaction, the senior vice president directly owned 3,046 shares in the company, valued at approximately $699,270.22. This trade represents a 6.74% decrease in their position. The SEC filing for this sale provides additional information. 3.60% of the stock is owned by company insiders.

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.