Resonant Capital Advisors LLC Boosts Holdings in Gartner, Inc. $IT

Resonant Capital Advisors LLC grew its position in shares of Gartner, Inc. (NYSE:IT) by 7.3% during the second quarter, HoldingsChannel reports. The firm owned 2,494 shares of the information technology services provider’s stock after buying an additional 170 shares during the period. Resonant Capital Advisors LLC’s holdings in Gartner were worth $1,008,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the company. Wealthfront Advisers LLC raised its stake in shares of Gartner by 7.3% during the second quarter. Wealthfront Advisers LLC now owns 3,087 shares of the information technology services provider’s stock valued at $1,248,000 after purchasing an additional 209 shares during the period. Oppenheimer Asset Management Inc. increased its stake in shares of Gartner by 39.8% in the second quarter. Oppenheimer Asset Management Inc. now owns 55,698 shares of the information technology services provider’s stock worth $22,514,000 after buying an additional 15,867 shares during the last quarter. Interchange Capital Partners LLC bought a new stake in shares of Gartner in the second quarter worth $200,000. Brighton Jones LLC increased its stake in shares of Gartner by 49.3% in the second quarter. Brighton Jones LLC now owns 997 shares of the information technology services provider’s stock worth $403,000 after buying an additional 329 shares during the last quarter. Finally, Kornitzer Capital Management Inc. KS increased its stake in shares of Gartner by 44.5% in the second quarter. Kornitzer Capital Management Inc. KS now owns 46,856 shares of the information technology services provider’s stock worth $18,940,000 after buying an additional 14,435 shares during the last quarter. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on IT. Wells Fargo & Company dropped their price target on shares of Gartner from $345.00 to $225.00 and set an “underweight” rating for the company in a research note on Wednesday, August 6th. UBS Group lifted their price target on shares of Gartner from $270.00 to $280.00 and gave the stock a “neutral” rating in a research note on Monday, October 6th. Morgan Stanley set a $307.00 price target on shares of Gartner in a research note on Monday, October 13th. William Blair reiterated an “outperform” rating on shares of Gartner in a research note on Tuesday, October 21st. Finally, Truist Financial started coverage on shares of Gartner in a research note on Thursday, October 16th. They set a “buy” rating and a $300.00 target price for the company. Four investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $346.20.

Insider Buying and Selling at Gartner

In other news, Director Jose M. Gutierrez purchased 417 shares of Gartner stock in a transaction dated 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 acquisition, the director owned 2,080 shares in the company, valued at $498,784. The trade was a 25.08% increase 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 105 shares of the company’s stock in a transaction dated Friday, August 22nd. The stock was 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 of the company’s stock, valued at $805,314.75. The trade was a 3.15% decrease in their position. The disclosure for this sale can be found here. Insiders own 3.60% of the company’s stock.

Gartner Stock Down 0.2%

IT stock opened at $250.40 on Monday. Gartner, Inc. has a 1-year low of $223.65 and a 1-year high of $584.01. The firm has a market cap of $18.97 billion, a price-to-earnings ratio of 15.41 and a beta of 1.20. 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 firm has a fifty day moving average price of $248.73 and a two-hundred day moving average price of $339.59.

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

Gartner Company 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.