Gartner, Inc. $IT Shares Acquired by Nordea Investment Management AB

Nordea Investment Management AB lifted its holdings in shares of Gartner, Inc. (NYSE:IT) by 9.2% during the 2nd quarter, Holdings Channel.com reports. The firm owned 7,134 shares of the information technology services provider’s stock after acquiring an additional 600 shares during the period. Nordea Investment Management AB’s holdings in Gartner were worth $2,880,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. Applied Finance Capital Management LLC boosted its holdings in shares of Gartner by 1.5% during the first quarter. Applied Finance Capital Management LLC now owns 1,945 shares of the information technology services provider’s stock worth $816,000 after purchasing an additional 29 shares during the last quarter. Allworth Financial LP boosted its holdings in shares of Gartner by 5.6% during the first quarter. Allworth Financial LP now owns 562 shares of the information technology services provider’s stock worth $235,000 after purchasing an additional 30 shares during the last quarter. Sequoia Financial Advisors LLC raised its position in shares of Gartner by 1.8% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 1,725 shares of the information technology services provider’s stock worth $697,000 after buying an additional 31 shares during the period. Verdence Capital Advisors LLC raised its position in shares of Gartner by 2.6% in the 2nd quarter. Verdence Capital Advisors LLC now owns 1,333 shares of the information technology services provider’s stock worth $539,000 after buying an additional 34 shares during the period. Finally, Resonant Capital Advisors LLC raised its position in shares of Gartner by 1.6% in the 1st quarter. Resonant Capital Advisors LLC now owns 2,324 shares of the information technology services provider’s stock worth $975,000 after buying an additional 36 shares during the period. Institutional investors and hedge funds own 91.51% of the company’s stock.

Insider Transactions at Gartner

In related news, Director Jose M. Gutierrez bought 417 shares of the firm’s stock in a transaction on Monday, August 18th. The stock was bought at an average cost of $239.80 per share, for a total transaction of $99,996.60. Following the completion of the purchase, 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP John J. Rinello sold 105 shares of Gartner stock in a transaction that occurred on 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 transaction, the senior vice president owned 3,225 shares of the company’s stock, valued at approximately $805,314.75. The trade was a 3.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.30% of the stock is currently owned by company insiders.

Gartner Stock Down 2.7%

Shares of NYSE IT opened at $251.21 on Thursday. Gartner, Inc. has a 1 year low of $223.65 and a 1 year high of $584.01. The firm has a market cap of $19.03 billion, a price-to-earnings ratio of 15.46 and a beta of 1.20. The company has a debt-to-equity ratio of 1.61, a quick ratio of 1.11 and a current ratio of 1.11. The stock’s 50-day simple moving average is $248.34 and its 200-day simple moving average is $342.06.

Gartner (NYSE:IT) last announced its earnings results on Tuesday, August 5th. The information technology services provider reported $3.53 earnings per share (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 business had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.68 billion. During the same period in the previous year, the company earned $3.22 earnings per share. 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, equities analysts anticipate that Gartner, Inc. will post 12.5 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on IT. William Blair reaffirmed an “outperform” rating on shares of Gartner in a research report on Tuesday. Barclays set a $270.00 target price on Gartner and gave the stock an “equal weight” rating in a research report on Wednesday. Truist Financial began coverage on Gartner in a research report on Thursday, October 16th. They issued a “buy” rating and a $300.00 target price on the stock. Morgan Stanley set a $307.00 target price on Gartner in a research report on Monday, October 13th. Finally, Wells Fargo & Company cut 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. Four investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $346.20.

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.