111 Capital Sells 1,089 Shares of Gartner, Inc. $IT

111 Capital cut its stake in shares of Gartner, Inc. (NYSE:IT) by 32.8% during the second quarter, HoldingsChannel.com reports. The fund owned 2,236 shares of the information technology services provider’s stock after selling 1,089 shares during the quarter. 111 Capital’s holdings in Gartner were worth $904,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the company. Ransom Advisory Ltd bought a new stake in Gartner during the 1st quarter valued at $29,000. Olde Wealth Management LLC purchased a new position in shares of Gartner during the first quarter valued at $42,000. GW&K Investment Management LLC raised its holdings in shares of Gartner by 210.8% in the first 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 bought a new stake in shares of Gartner in the first quarter valued at about $55,000. Finally, Bayforest Capital Ltd lifted its stake in Gartner by 527.3% in the first quarter. Bayforest Capital Ltd now owns 138 shares of the information technology services provider’s stock worth $58,000 after acquiring an additional 116 shares during the period. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. The Goldman Sachs Group cut their target price on shares of Gartner from $535.00 to $457.00 and set a “buy” rating on the stock in a research report on Wednesday, August 6th. Barclays cut their price objective on shares of Gartner from $475.00 to $320.00 and set an “overweight” rating on the stock in a report on Wednesday, August 6th. Weiss Ratings restated a “hold (c-)” rating on shares of Gartner in a report on Saturday, September 27th. BMO Capital Markets dropped their target price on Gartner from $409.00 to $272.00 and set a “market perform” rating on the stock in a research report on Wednesday, August 6th. Finally, Royal Bank Of Canada started coverage on Gartner in a research report on Tuesday, September 9th. They issued a “sector perform” rating and a $263.00 price target for the company. Three investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $357.44.

Gartner Price Performance

NYSE IT opened at $257.78 on Friday. The firm’s fifty day simple moving average is $258.64 and its two-hundred day simple moving average is $357.17. The firm has a market capitalization of $19.52 billion, a P/E ratio of 15.86 and a beta of 1.20. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 1.61. Gartner, Inc. has a 12-month low of $223.65 and a 12-month high of $584.01.

Gartner (NYSE:IT) last posted its quarterly earnings data 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 return on equity of 82.63% and a net margin of 19.71%.The firm had revenue of $1.66 billion during the quarter, compared to analysts’ expectations of $1.68 billion. During the same quarter last year, the firm earned $3.22 EPS. The business’s quarterly revenue was up 5.7% on a year-over-year basis. Gartner has set its FY 2025 guidance at 11.750- EPS. Analysts forecast that Gartner, Inc. will post 12.5 EPS for the current fiscal year.

Insider Activity

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

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.