Sagespring Wealth Partners LLC Has $234,000 Position in Gartner, Inc. $IT

Sagespring Wealth Partners LLC cut its holdings in shares of Gartner, Inc. (NYSE:IT) by 13.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 579 shares of the information technology services provider’s stock after selling 91 shares during the quarter. Sagespring Wealth Partners LLC’s holdings in Gartner were worth $234,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Gartner by 22.2% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 34,964 shares of the information technology services provider’s stock worth $13,995,000 after acquiring an additional 6,352 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in Gartner by 10.2% during the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 12,433 shares of the information technology services provider’s stock worth $5,026,000 after buying an additional 1,150 shares during the period. Pallas Capital Advisors LLC increased its position in Gartner by 154.4% during the 2nd quarter. Pallas Capital Advisors LLC now owns 3,445 shares of the information technology services provider’s stock worth $1,393,000 after buying an additional 2,091 shares during the period. Bright Rock Capital Management LLC bought a new position in Gartner during the 2nd quarter worth $1,859,000. Finally, Abacus FCF Advisors LLC increased its position in Gartner by 534.6% during the 2nd quarter. Abacus FCF Advisors LLC now owns 36,889 shares of the information technology services provider’s stock worth $14,911,000 after buying an additional 31,076 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 acquired 417 shares of Gartner stock in a transaction that occurred on Monday, August 18th. The shares were acquired at an average cost of $239.80 per share, with a total value of $99,996.60. Following the completion of the purchase, the director directly owned 2,080 shares of the company’s stock, valued at $498,784. This represents a 25.08% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP John J. Rinello sold 105 shares of the firm’s 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 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 ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.30% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Weiss Ratings reiterated a “hold (c-)” rating on shares of Gartner in a research report on Wednesday, October 8th. The Goldman Sachs Group lowered their price objective on Gartner from $535.00 to $457.00 and set a “buy” rating on the stock in a research report on Wednesday, August 6th. Morgan Stanley set a $307.00 price objective on Gartner in a research report on Monday, October 13th. Wells Fargo & Company lowered their price objective on Gartner from $345.00 to $225.00 and set an “underweight” rating on the stock in a research report on Wednesday, August 6th. Finally, Wolfe Research assumed coverage on Gartner in a research report on Wednesday, September 3rd. They set a “peer perform” rating on the stock. Four 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. According to MarketBeat.com, Gartner currently has an average rating of “Hold” and an average target price of $351.20.

Gartner Stock Down 0.2%

Shares of NYSE IT opened at $235.63 on Friday. The company has a debt-to-equity ratio of 1.61, a quick ratio of 1.11 and a current ratio of 1.11. Gartner, Inc. has a 52 week low of $223.65 and a 52 week high of $584.01. The stock has a market capitalization of $17.85 billion, a P/E ratio of 14.50 and a beta of 1.20. The stock’s fifty day moving average is $247.30 and its 200 day moving average is $344.70.

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

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.