OFI Invest Asset Management Decreases Stock Position in Gartner, Inc. $IT

OFI Invest Asset Management cut its position in Gartner, Inc. (NYSE:IT) by 96.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 246 shares of the information technology services provider’s stock after selling 6,701 shares during the quarter. OFI Invest Asset Management’s holdings in Gartner were worth $99,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in IT. Ransom Advisory Ltd bought a new position in Gartner during the 1st quarter valued at $29,000. Olde Wealth Management LLC bought a new position in Gartner during the 1st quarter valued at $42,000. GW&K Investment Management LLC boosted its stake in Gartner by 210.8% during the 1st 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 during the last quarter. Wayfinding Financial LLC bought a new position in Gartner during the 1st quarter valued at $55,000. Finally, Bayforest Capital Ltd boosted its stake in Gartner by 527.3% during the 1st quarter. Bayforest Capital Ltd now owns 138 shares of the information technology services provider’s stock valued at $58,000 after acquiring an additional 116 shares during the last quarter. 91.51% of the stock is currently owned by institutional investors.

Gartner Stock Down 2.0%

IT stock opened at $239.66 on Monday. 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 fifty-two week low of $223.65 and a fifty-two week high of $584.01. The firm’s 50-day simple moving average is $248.97 and its 200 day simple moving average is $350.43. The stock has a market cap of $18.15 billion, a PE ratio of 14.75 and a beta of 1.20.

Gartner (NYSE:IT) last released 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 net margin of 19.71% and a return on equity of 82.63%. The business had revenue of $1.66 billion for the quarter, compared to analysts’ expectations of $1.68 billion. During the same quarter last year, the company earned $3.22 EPS. The company’s revenue for the quarter was up 5.7% compared to the same quarter last year. Gartner has set its FY 2025 guidance at 11.750- EPS. As a group, sell-side analysts predict that Gartner, Inc. will post 12.5 EPS for the current year.

Insider Transactions at Gartner

In related news, SVP John J. Rinello sold 105 shares of the stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $249.71, for a total value of $26,219.55. Following 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jose M. Gutierrez acquired 417 shares of the company’s stock in a transaction that occurred on Monday, August 18th. The stock was purchased at an average cost 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 disclosure for this purchase can be found here. 3.60% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have commented on IT. Wolfe Research began coverage on shares of Gartner in a research note on Wednesday, September 3rd. They set a “peer perform” rating on the stock. Weiss Ratings restated a “hold (c-)” rating on shares of Gartner in a research report on Wednesday, October 8th. Royal Bank Of Canada began coverage on shares of Gartner in a research report on Tuesday, September 9th. They issued a “sector perform” rating and a $263.00 price target on the stock. Wells Fargo & Company reduced their price target on shares of Gartner from $345.00 to $225.00 and set an “underweight” rating on the stock in a research report on Wednesday, August 6th. Finally, BMO Capital Markets reduced their price target on shares of Gartner from $409.00 to $272.00 and set a “market perform” rating on the stock in a research report on Wednesday, August 6th. Three analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $358.56.

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.