Gartner, Inc. $IT Holdings Raised by Keudell Morrison Wealth Management

Keudell Morrison Wealth Management increased its holdings in Gartner, Inc. (NYSE:IT) by 11.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,060 shares of the information technology services provider’s stock after acquiring an additional 110 shares during the period. Keudell Morrison Wealth Management’s holdings in Gartner were worth $428,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in IT. Wealth Enhancement Advisory Services LLC raised its stake in shares of Gartner by 22.2% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 34,964 shares of the information technology services provider’s stock valued at $13,995,000 after acquiring an additional 6,352 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in Gartner by 10.2% in the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 12,433 shares of the information technology services provider’s stock valued at $5,026,000 after acquiring an additional 1,150 shares during the last quarter. Pallas Capital Advisors LLC boosted its holdings in Gartner by 154.4% in the second quarter. Pallas Capital Advisors LLC now owns 3,445 shares of the information technology services provider’s stock valued at $1,393,000 after acquiring an additional 2,091 shares during the last quarter. Bright Rock Capital Management LLC bought a new stake in Gartner in the second quarter valued at about $1,859,000. Finally, Abacus FCF Advisors LLC increased its holdings in Gartner by 534.6% in the second quarter. Abacus FCF Advisors LLC now owns 36,889 shares of the information technology services provider’s stock valued at $14,911,000 after purchasing an additional 31,076 shares during the last quarter. 91.51% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Gartner

In related news, SVP John J. Rinello sold 105 shares of the firm’s stock in a transaction that occurred on Friday, August 22nd. The shares were 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 owned 3,225 shares of the company’s stock, valued at $805,314.75. This trade represents a 3.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jose M. Gutierrez purchased 417 shares of Gartner stock in a transaction that occurred on Monday, August 18th. The shares were purchased at an average cost of $239.80 per share, with a total value of $99,996.60. Following the transaction, the director directly owned 2,080 shares of the company’s stock, valued at $498,784. This represents a 25.08% increase in their ownership of the stock. The disclosure for this purchase can be found here. 2.30% of the stock is owned by corporate insiders.

Gartner Stock Performance

NYSE IT opened at $257.78 on Friday. The company has a 50-day simple moving average of $258.64 and a two-hundred day simple moving average of $357.17. The company has a quick ratio of 1.11, a current 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. The firm has a market cap of $19.52 billion, a price-to-earnings ratio of 15.86 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 (EPS) for the quarter, beating the consensus estimate of $3.38 by $0.15. The business had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.68 billion. Gartner had a net margin of 19.71% and a return on equity of 82.63%. The company’s revenue was up 5.7% on a year-over-year basis. During the same period in the prior year, the business posted $3.22 earnings per share. Gartner has set its FY 2025 guidance at 11.750- EPS. On average, equities analysts forecast that Gartner, Inc. will post 12.5 EPS for the current year.

Analyst Ratings Changes

IT has been the subject of several recent research reports. UBS Group reissued a “neutral” rating and set a $270.00 price target (down from $480.00) on shares of Gartner in a research report on Wednesday, August 6th. Barclays reduced their target price on Gartner from $475.00 to $320.00 and set an “overweight” rating on the stock in a report on Wednesday, August 6th. Weiss Ratings reissued a “hold (c-)” rating on shares of Gartner in a report on Saturday, September 27th. Morgan Stanley lowered their target price on 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 decreased their target price on 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 investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $357.44.

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.