Gartner, Inc. $IT Holdings Raised by Kendall Capital Management

Kendall Capital Management grew its stake in shares of Gartner, Inc. (NYSE:IT) by 1.4% in the 2nd quarter, HoldingsChannel reports. The firm owned 7,806 shares of the information technology services provider’s stock after acquiring an additional 110 shares during the quarter. Kendall Capital Management’s holdings in Gartner were worth $3,155,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of IT. Ransom Advisory Ltd purchased a new stake in Gartner during the first quarter valued at about $29,000. Olde Wealth Management LLC purchased a new stake in shares of Gartner in the 1st quarter valued at approximately $42,000. GW&K Investment Management LLC lifted its position in shares of Gartner by 210.8% in the 1st quarter. GW&K Investment Management LLC now owns 115 shares of the information technology services provider’s stock valued at $48,000 after acquiring an additional 78 shares in the last quarter. Wayfinding Financial LLC purchased a new stake in shares of Gartner in the 1st quarter valued at approximately $55,000. Finally, Bayforest Capital Ltd lifted its holdings in shares of Gartner by 527.3% in the first quarter. Bayforest Capital Ltd now owns 138 shares of the information technology services provider’s stock valued at $58,000 after purchasing an additional 116 shares in the last quarter. 91.51% of the stock is owned by hedge funds and other institutional investors.

Gartner Stock Up 0.6%

IT opened at $263.92 on Friday. Gartner, Inc. has a fifty-two week low of $223.65 and a fifty-two week high of $584.01. The business has a 50-day moving average of $268.42 and a 200-day moving average of $364.60. The company has a debt-to-equity ratio of 1.61, a current ratio of 1.11 and a quick ratio of 1.11. The company has a market capitalization of $19.99 billion, a PE ratio of 16.24 and a beta of 1.20.

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

Insiders Place Their Bets

In related news, Director Jose M. Gutierrez purchased 417 shares of Gartner stock in a transaction on Monday, August 18th. The stock was bought at an average price of $239.80 per share, with a total value of $99,996.60. Following the completion of the transaction, the director directly owned 2,080 shares of the company’s stock, valued at approximately $498,784. This represents a 25.08% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP John J. Rinello sold 105 shares of the business’s stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $249.71, for a total value of $26,219.55. Following the completion of the sale, the senior vice president directly owned 3,225 shares of the company’s stock, valued at $805,314.75. This represents a 3.15% decrease in their position. The disclosure for this sale can be found here. 2.30% of the stock is currently owned by company insiders.

Analyst Ratings Changes

IT has been the subject of a number of research analyst reports. Royal Bank Of Canada began coverage on Gartner in a report on Tuesday, September 9th. They issued a “sector perform” rating and a $263.00 target price for the company. Morgan Stanley reduced their price objective on Gartner from $455.00 to $322.00 and set an “equal weight” rating for the company in a research note on Wednesday, August 6th. The Goldman Sachs Group reduced their price target 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. UBS Group reissued a “neutral” rating and issued a $270.00 price target (down from $480.00) on shares of Gartner in a research report on Wednesday, August 6th. Finally, BMO Capital Markets reduced their price target 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. Three research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $357.44.

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.