Spear Holdings RSC Ltd Makes New Investment in Gartner, Inc. $IT

Spear Holdings RSC Ltd purchased a new position in Gartner, Inc. (NYSE:IT) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 103,735 shares of the information technology services provider’s stock, valued at approximately $41,932,000. Gartner accounts for 3.1% of Spear Holdings RSC Ltd’s portfolio, making the stock its 13th biggest holding.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. DAVENPORT & Co LLC boosted its holdings in Gartner by 15.1% in the 2nd quarter. DAVENPORT & Co LLC now owns 1,060 shares of the information technology services provider’s stock worth $428,000 after acquiring an additional 139 shares during the period. Marks Group Wealth Management Inc boosted its holdings in Gartner by 1.9% in the 2nd quarter. Marks Group Wealth Management Inc now owns 6,792 shares of the information technology services provider’s stock worth $2,745,000 after acquiring an additional 125 shares during the period. Keudell Morrison Wealth Management boosted its holdings in Gartner by 11.6% in the 2nd quarter. Keudell Morrison Wealth Management now owns 1,060 shares of the information technology services provider’s stock worth $428,000 after acquiring an additional 110 shares during the period. Berger Financial Group Inc increased its holdings in Gartner by 3.8% during the 2nd quarter. Berger Financial Group Inc now owns 11,335 shares of the information technology services provider’s stock worth $4,582,000 after purchasing an additional 419 shares during the last quarter. Finally, Hennessy Advisors Inc. purchased a new stake in Gartner during the 2nd quarter worth approximately $98,000. Hedge funds and other 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 stock in a transaction on Friday, August 22nd. The stock was 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 in the company, valued at approximately $805,314.75. This trade represents a 3.15% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jose M. Gutierrez acquired 417 shares of the firm’s 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 completion of the transaction, the director directly owned 2,080 shares in the company, valued at approximately $498,784. The trade was a 25.08% increase in their position. The disclosure for this purchase can be found here. 3.60% of the stock is currently owned by company insiders.

Gartner Stock Down 0.3%

NYSE IT opened at $256.48 on Tuesday. The firm has a market cap of $19.43 billion, a PE ratio of 15.78 and a beta of 1.20. Gartner, Inc. has a one year low of $223.65 and a one year high of $584.01. The stock’s 50 day simple moving average is $256.71 and its 200 day simple moving average is $355.53. The company has a debt-to-equity ratio of 1.61, a current ratio of 1.11 and a quick ratio of 1.11.

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

Analyst Ratings Changes

A number of research analysts recently issued reports on IT shares. Royal Bank Of Canada initiated coverage on Gartner in a research report on Tuesday, September 9th. They set a “sector perform” rating and a $263.00 price objective for the company. UBS Group boosted their target price on Gartner from $270.00 to $280.00 and gave the stock a “neutral” rating in a research report on Monday. Morgan Stanley cut their target price on Gartner from $455.00 to $322.00 and set an “equal weight” rating on the stock in a research report on Wednesday, August 6th. Barclays cut their target price on Gartner from $475.00 to $320.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 6th. Finally, The Goldman Sachs Group cut their target price on Gartner from $535.00 to $457.00 and set a “buy” rating on the stock in a research report on Wednesday, August 6th. Three investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Gartner has a consensus rating of “Hold” and a consensus price target of $358.56.

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.