GC Wealth Management RIA LLC Makes New $327,000 Investment in Gartner, Inc. $IT

GC Wealth Management RIA LLC bought a new position in shares of Gartner, Inc. (NYSE:IT) during the 2nd quarter, Holdings Channel.com reports. The firm bought 808 shares of the information technology services provider’s stock, valued at approximately $327,000.

Several other hedge funds have also recently bought and sold shares of IT. Brighton Jones LLC acquired a new position in Gartner during the fourth quarter worth $309,000. Parallel Advisors LLC boosted its holdings in Gartner by 6.1% during the first quarter. Parallel Advisors LLC now owns 782 shares of the information technology services provider’s stock valued at $328,000 after acquiring an additional 45 shares during the period. Fifth Third Wealth Advisors LLC boosted its holdings in Gartner by 7.4% during the first quarter. Fifth Third Wealth Advisors LLC now owns 655 shares of the information technology services provider’s stock valued at $275,000 after acquiring an additional 45 shares during the period. Merit Financial Group LLC boosted its holdings in Gartner by 15.6% during the first quarter. Merit Financial Group LLC now owns 1,842 shares of the information technology services provider’s stock valued at $773,000 after acquiring an additional 249 shares during the period. Finally, Contravisory Investment Management Inc. boosted its holdings in Gartner by 3.7% during the first quarter. Contravisory Investment Management Inc. now owns 2,028 shares of the information technology services provider’s stock valued at $851,000 after acquiring an additional 73 shares during the period. 91.51% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Gartner news, Director Jose M. Gutierrez purchased 417 shares of the company’s stock in a transaction that occurred on Monday, August 18th. The stock was purchased 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 trade represents a 25.08% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP John J. Rinello sold 105 shares of the 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 transaction, the senior vice president directly owned 3,225 shares of the company’s stock, valued at $805,314.75. This trade represents a 3.15% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.30% of the company’s stock.

Gartner Stock Down 4.7%

Shares of IT stock opened at $250.58 on Thursday. Gartner, Inc. has a one year low of $223.65 and a one year 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 fifty day moving average price of $262.58 and a 200 day moving average price of $360.51. The stock has a market cap of $18.98 billion, a P/E ratio of 15.42 and a beta of 1.20.

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

Analyst Ratings Changes

A number of research firms have issued reports on IT. UBS Group restated a “neutral” rating and set a $270.00 price target (down from $480.00) on shares of Gartner in a report on Wednesday, August 6th. The Goldman Sachs Group decreased their price target on shares of Gartner from $535.00 to $457.00 and set a “buy” rating for the company in a report on Wednesday, August 6th. Wells Fargo & Company decreased their price target on shares of Gartner from $345.00 to $225.00 and set an “underweight” rating for the company in a report on Wednesday, August 6th. Barclays decreased their price target on shares of Gartner from $475.00 to $320.00 and set an “overweight” rating for the company in a report on Wednesday, August 6th. Finally, BMO Capital Markets decreased their price target on shares of Gartner from $409.00 to $272.00 and set a “market perform” rating for the company in a report on Wednesday, August 6th. Three equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $357.44.

About Gartner

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.