Summit Financial LLC Has $989,000 Stock Holdings in Gartner, Inc. $IT

Summit Financial LLC boosted its position in shares of Gartner, Inc. (NYSE:IT) by 289.4% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,356 shares of the information technology services provider’s stock after buying an additional 1,751 shares during the quarter. Summit Financial LLC’s holdings in Gartner were worth $989,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of IT. T. Rowe Price Investment Management Inc. lifted its holdings in Gartner by 692.2% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 1,066,732 shares of the information technology services provider’s stock worth $447,751,000 after buying an additional 932,077 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Gartner by 40,841.0% during the 1st quarter. GAMMA Investing LLC now owns 499,071 shares of the information technology services provider’s stock valued at $209,480,000 after acquiring an additional 497,852 shares during the last quarter. Nuveen LLC bought a new stake in shares of Gartner during the 1st quarter valued at $128,318,000. BNP Paribas Financial Markets raised its position in shares of Gartner by 184.6% during the 4th quarter. BNP Paribas Financial Markets now owns 390,472 shares of the information technology services provider’s stock valued at $189,172,000 after acquiring an additional 253,288 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its position in shares of Gartner by 20.5% during the 1st quarter. JPMorgan Chase & Co. now owns 1,245,563 shares of the information technology services provider’s stock valued at $522,813,000 after acquiring an additional 211,842 shares during the last quarter. Institutional investors and hedge funds own 91.51% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. UBS Group reiterated a “neutral” rating and set a $270.00 target price (down previously from $480.00) on shares of Gartner in a research report on Wednesday, August 6th. Barclays dropped their target price on shares of Gartner from $475.00 to $320.00 and set an “overweight” rating for the company in a research report on Wednesday, August 6th. The Goldman Sachs Group dropped their target price 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. Morgan Stanley lowered their price objective on shares of Gartner from $455.00 to $322.00 and set an “equal weight” rating for the company in a research report on Wednesday, August 6th. Finally, BMO Capital Markets lowered their price objective 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 analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Gartner presently has an average rating of “Hold” and a consensus price target of $369.25.

Gartner Trading Up 2.0%

NYSE:IT opened at $249.53 on Friday. Gartner, Inc. has a fifty-two week low of $223.65 and a fifty-two week high of $584.01. 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 stock has a market capitalization of $18.90 billion, a PE ratio of 15.36 and a beta of 1.19. The business’s 50-day simple moving average is $339.24 and its 200-day simple moving average is $407.45.

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

Insider Transactions at Gartner

In other news, Director Jose M. Gutierrez bought 417 shares of the stock in a transaction on Monday, August 18th. The stock was purchased at an average price of $239.80 per share, for a total transaction of $99,996.60. Following the acquisition, the director owned 2,080 shares in the company, valued at approximately $498,784. This trade represents a 25.08% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 2.30% of the company’s stock.

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.