Jackson Thornton Wealth Management LLC Buys New Position in Gartner, Inc. $IT

Jackson Thornton Wealth Management LLC bought a new stake in Gartner, Inc. (NYSE:IT) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 598 shares of the information technology services provider’s stock, valued at approximately $239,000.

A number of other hedge funds have also recently bought and sold shares of the stock. Phoenix Financial Ltd. grew its stake in Gartner by 5.4% in the second quarter. Phoenix Financial Ltd. now owns 806 shares of the information technology services provider’s stock valued at $326,000 after purchasing an additional 41 shares in the last quarter. DekaBank Deutsche Girozentrale grew its stake in Gartner by 4.1% in the second quarter. DekaBank Deutsche Girozentrale now owns 134,054 shares of the information technology services provider’s stock valued at $54,717,000 after purchasing an additional 5,255 shares in the last quarter. Stephens Inc. AR grew its stake in Gartner by 44.4% in the second quarter. Stephens Inc. AR now owns 2,141 shares of the information technology services provider’s stock valued at $865,000 after purchasing an additional 658 shares in the last quarter. Chevy Chase Trust Holdings LLC grew its stake in Gartner by 1.1% in the second quarter. Chevy Chase Trust Holdings LLC now owns 40,729 shares of the information technology services provider’s stock valued at $16,463,000 after purchasing an additional 440 shares in the last quarter. Finally, Stratos Wealth Partners LTD. grew its stake in Gartner by 43.9% in the second quarter. Stratos Wealth Partners LTD. now owns 2,239 shares of the information technology services provider’s stock valued at $905,000 after purchasing an additional 683 shares in the last quarter. 91.51% of the stock is currently owned by institutional investors.

Gartner Stock Performance

Shares of NYSE IT opened at $239.81 on Tuesday. 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. The stock has a 50 day moving average of $247.58 and a 200-day moving average of $343.28. The company has a market capitalization of $18.16 billion, a P/E ratio of 14.76 and a beta of 1.20.

Gartner (NYSE:IT) last issued its earnings results on Tuesday, August 5th. The information technology services provider reported $3.53 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $1.68 billion. During the same period in the previous year, the company posted $3.22 EPS. The firm’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, equities research analysts predict that Gartner, Inc. will post 12.5 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on IT shares. Morgan Stanley set a $307.00 price target on Gartner in a research note on Monday, October 13th. BMO Capital Markets decreased their price target on Gartner from $409.00 to $272.00 and set a “market perform” rating for the company in a research note on Wednesday, August 6th. Wolfe Research started coverage on Gartner in a research note on Wednesday, September 3rd. They issued a “peer perform” rating for the company. Weiss Ratings restated a “hold (c-)” rating on shares of Gartner in a research note on Wednesday, October 8th. Finally, Wells Fargo & Company reduced their target price on Gartner from $345.00 to $225.00 and set an “underweight” rating for the company in a research note on Wednesday, August 6th. Four equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $351.20.

Insiders Place Their Bets

In other news, Director Jose M. Gutierrez acquired 417 shares of the stock in a transaction on Monday, August 18th. The shares were purchased at an average price of $239.80 per share, for a total transaction of $99,996.60. Following the transaction, the director directly owned 2,080 shares of the company’s stock, valued at approximately $498,784. This represents a 25.08% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 owned 3,225 shares in the company, valued at $805,314.75. The trade was a 3.15% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.30% of the company’s stock.

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.