TimesSquare Capital Management LLC Buys 4,075 Shares of Gartner, Inc. $IT

TimesSquare Capital Management LLC lifted its position in shares of Gartner, Inc. (NYSE:IT) by 1.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 221,884 shares of the information technology services provider’s stock after acquiring an additional 4,075 shares during the period. Gartner makes up about 1.3% of TimesSquare Capital Management LLC’s portfolio, making the stock its 22nd largest holding. TimesSquare Capital Management LLC’s holdings in Gartner were worth $89,690,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of IT. Brighton Jones LLC bought a new stake in shares of Gartner in the fourth quarter worth $309,000. Allworth Financial LP lifted its holdings in Gartner by 5.6% during the 1st quarter. Allworth Financial LP now owns 562 shares of the information technology services provider’s stock worth $235,000 after buying an additional 30 shares during the period. Alps Advisors Inc. grew its position in shares of Gartner by 11.4% in the 1st quarter. Alps Advisors Inc. now owns 780 shares of the information technology services provider’s stock valued at $327,000 after buying an additional 80 shares during the last quarter. New York State Common Retirement Fund increased its stake in shares of Gartner by 1.2% in the first quarter. New York State Common Retirement Fund now owns 43,236 shares of the information technology services provider’s stock valued at $18,148,000 after buying an additional 500 shares during the period. Finally, Edgestream Partners L.P. raised its position in shares of Gartner by 184.0% during the first quarter. Edgestream Partners L.P. now owns 2,525 shares of the information technology services provider’s stock worth $1,060,000 after acquiring an additional 1,636 shares during the last quarter. Institutional investors own 91.51% of the company’s stock.

Insiders Place Their Bets

In other Gartner news, SVP John J. Rinello sold 105 shares of the firm’s stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $249.71, for a total value of $26,219.55. Following the transaction, the senior vice president directly owned 3,225 shares of the company’s stock, valued at approximately $805,314.75. This trade represents a 3.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jose M. Gutierrez purchased 417 shares of the company’s stock in a transaction that occurred on Monday, August 18th. The stock was acquired at an average cost of $239.80 per share, for a total transaction of $99,996.60. Following the transaction, the director owned 2,080 shares in the company, valued at $498,784. This represents a 25.08% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 2.30% of the stock is owned by company insiders.

Gartner Price Performance

IT stock opened at $231.23 on Wednesday. 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’s 50-day moving average is $247.33 and its 200-day moving average is $325.28. The stock has a market capitalization of $17.51 billion, a PE ratio of 14.23 and a beta of 1.19. Gartner, Inc. has a 1 year low of $222.54 and a 1 year high of $584.01.

Gartner (NYSE:IT) last posted its quarterly earnings results on Tuesday, November 4th. The information technology services provider reported $2.76 earnings per share for the quarter, topping analysts’ consensus estimates of $2.41 by $0.35. The business had revenue of $1.52 billion for the quarter, compared to the consensus estimate of $1.52 billion. Gartner had a return on equity of 82.63% and a net margin of 19.71%. Gartner has set its FY 2025 guidance at 12.650- EPS. Equities research analysts expect that Gartner, Inc. will post 12.5 EPS for the current fiscal year.

Analyst Ratings Changes

IT has been the topic of several analyst reports. BMO Capital Markets reduced their target price on Gartner from $272.00 to $254.00 and set a “market perform” rating on the stock in a report on Wednesday, November 5th. Wolfe Research started coverage on shares of Gartner in a research report on Wednesday, September 3rd. They issued a “peer perform” rating on the stock. The Goldman Sachs Group reduced their price objective 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. Royal Bank Of Canada began coverage on shares of Gartner in a research note on Tuesday, September 9th. They set a “sector perform” rating and a $263.00 target price for the company. Finally, Morgan Stanley set a $307.00 price target on shares of Gartner in a research report on Monday, October 13th. Four investment analysts have rated the stock with a Buy rating, six have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, Gartner presently has an average rating of “Hold” and a consensus target price of $311.67.

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.