Securian Asset Management Inc. Cuts Stock Position in Gartner, Inc. $IT

Securian Asset Management Inc. lessened its stake in Gartner, Inc. (NYSE:IT) by 2.4% in the 2nd quarter, Holdings Channel.com reports. The fund owned 4,006 shares of the information technology services provider’s stock after selling 100 shares during the quarter. Securian Asset Management Inc.’s holdings in Gartner were worth $1,619,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Applied Finance Capital Management LLC increased its holdings in Gartner by 1.5% in the 1st quarter. Applied Finance Capital Management LLC now owns 1,945 shares of the information technology services provider’s stock worth $816,000 after acquiring an additional 29 shares in the last quarter. Allworth Financial LP grew 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 buying an additional 30 shares in the last quarter. Sequoia Financial Advisors LLC grew its holdings in shares of Gartner by 1.8% during the second 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 in the last quarter. Verdence Capital Advisors LLC grew its holdings in shares of Gartner by 2.6% during the second 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 in the last quarter. Finally, Resonant Capital Advisors LLC grew its holdings in shares of Gartner by 1.6% during the first 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 in the last quarter. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. William Blair reaffirmed an “outperform” rating on shares of Gartner in a report on Tuesday. BMO Capital Markets dropped their target price on shares of Gartner from $409.00 to $272.00 and set a “market perform” rating for the company in a report on Wednesday, August 6th. Barclays set a $270.00 target price on shares of Gartner and gave the stock an “equal weight” rating in a report on Wednesday. Wells Fargo & Company dropped their target price on shares of Gartner from $345.00 to $225.00 and set an “underweight” rating for the company in a report on Wednesday, August 6th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Gartner in a report on Wednesday, October 8th. Four investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $346.20.

Gartner Stock Down 2.7%

Shares of IT opened at $251.21 on Thursday. The stock has a market capitalization of $19.03 billion, a PE ratio of 15.46 and a beta of 1.20. Gartner, Inc. has a 1 year low of $223.65 and a 1 year high of $584.01. 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 company’s 50-day simple moving average is $248.34 and its 200-day simple moving average is $342.06.

Gartner (NYSE:IT) last issued its earnings results on Tuesday, August 5th. The information technology services provider reported $3.53 earnings per share for the quarter, beating the consensus estimate of $3.38 by $0.15. The firm had revenue of $1.66 billion for the quarter, compared to analysts’ expectations of $1.68 billion. Gartner had a net margin of 19.71% and a return on equity of 82.63%. The firm’s revenue was up 5.7% compared to the same quarter last year. During the same quarter last year, the company earned $3.22 earnings per share. Gartner has set its FY 2025 guidance at 11.750- EPS. Analysts forecast that Gartner, Inc. will post 12.5 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, SVP John J. Rinello sold 105 shares of Gartner stock in a transaction 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 transaction, 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 position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Jose M. Gutierrez bought 417 shares of Gartner stock in a transaction on Monday, August 18th. The stock was acquired at an average cost of $239.80 per share, with a total value of $99,996.60. Following the acquisition, the director owned 2,080 shares of the company’s stock, valued at $498,784. This trade represents a 25.08% increase in their position. The disclosure for this purchase can be found here. Company insiders own 2.30% of the company’s stock.

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.