Townsquare Capital LLC Sells 3,514 Shares of Gartner, Inc. $IT

Townsquare Capital LLC cut its stake in Gartner, Inc. (NYSE:IT) by 39.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,408 shares of the information technology services provider’s stock after selling 3,514 shares during the period. Townsquare Capital LLC’s holdings in Gartner were worth $1,422,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Brighton Jones LLC bought a new position in Gartner in the fourth quarter worth $309,000. Sivia Capital Partners LLC bought a new position in shares of Gartner in the 2nd quarter worth about $336,000. GC Wealth Management RIA LLC bought a new position in shares of Gartner in the 2nd quarter worth about $327,000. Janney Montgomery Scott LLC lifted its position in Gartner by 2.3% during the 2nd quarter. Janney Montgomery Scott LLC now owns 9,717 shares of the information technology services provider’s stock valued at $3,928,000 after acquiring an additional 217 shares during the period. Finally, Greenleaf Trust boosted its stake in Gartner by 6.4% during the second quarter. Greenleaf Trust now owns 1,706 shares of the information technology services provider’s stock worth $690,000 after acquiring an additional 102 shares in the last quarter. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on IT. BMO Capital Markets dropped their price target on Gartner from $272.00 to $254.00 and set a “market perform” rating on the stock in a research report on Wednesday, November 5th. Wells Fargo & Company dropped their target price on Gartner from $231.00 to $218.00 and set an “underweight” rating on the stock in a report on Wednesday, November 5th. The Goldman Sachs Group dropped their price target on shares of Gartner from $457.00 to $390.00 and set a “buy” rating on the stock in a research note on Wednesday, November 5th. Morgan Stanley reduced their price objective on shares of Gartner from $281.00 to $275.00 and set an “equal weight” rating for the company in a research note on Wednesday, December 17th. Finally, William Blair reissued an “outperform” rating on shares of Gartner in a research report on Tuesday, October 21st. Four analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $309.67.

Gartner Price Performance

Shares of IT opened at $212.36 on Friday. The firm has a market cap of $15.31 billion, a PE ratio of 18.63 and a beta of 1.07. Gartner, Inc. has a 1-year low of $210.10 and a 1-year high of $584.01. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 4.42. The firm has a fifty day simple moving average of $238.27 and a two-hundred day simple moving average of $254.13.

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

Insiders Place Their Bets

In other Gartner news, EVP Claire Herkes sold 367 shares of the firm’s stock in a transaction that occurred on Wednesday, December 3rd. The shares were sold at an average price of $231.56, for a total transaction of $84,982.52. Following the sale, the executive vice president owned 4,074 shares in the company, valued at approximately $943,375.44. This trade represents a 8.26% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP John J. Rinello sold 220 shares of the company’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 transaction of $50,505.40. Following the completion of the transaction, the senior vice president owned 3,046 shares of the company’s stock, valued at approximately $699,270.22. The trade was a 6.74% 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.

Gartner Profile

Gartner, Inc is a global research and advisory firm that provides insights, advice and tools for leaders in IT, finance, HR, customer service and other business functions. Founded in 1979 and headquartered in Stamford, Connecticut, Gartner specializes in helping organizations make informed decisions about technology, operations and strategy through a combination of published research, advisory services, consulting, executive programs and events.

The company’s offerings include proprietary research reports, market forecasts, and analytical frameworks that are widely used by technology buyers and vendors.