Mutual of America Capital Management LLC Reduces Holdings in Gartner, Inc. $IT

Mutual of America Capital Management LLC decreased its holdings in shares of Gartner, Inc. (NYSE:IT) by 1.2% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 8,824 shares of the information technology services provider’s stock after selling 108 shares during the period. Mutual of America Capital Management LLC’s holdings in Gartner were worth $3,567,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Ransom Advisory Ltd purchased a new stake in shares of Gartner during the first quarter worth about $29,000. Olde Wealth Management LLC purchased a new stake in shares of Gartner during the first quarter worth about $42,000. GW&K Investment Management LLC grew its stake in shares of Gartner by 210.8% during the first quarter. GW&K Investment Management LLC now owns 115 shares of the information technology services provider’s stock worth $48,000 after acquiring an additional 78 shares during the last quarter. Wayfinding Financial LLC purchased a new stake in shares of Gartner during the first quarter worth about $55,000. Finally, Bayforest Capital Ltd grew its stake in shares of Gartner by 527.3% during the first quarter. Bayforest Capital Ltd now owns 138 shares of the information technology services provider’s stock worth $58,000 after acquiring an additional 116 shares during the last quarter. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Insider Activity at Gartner

In related news, Director Jose M. Gutierrez acquired 417 shares of the stock in a transaction on Monday, August 18th. The shares were acquired at an average price of $239.80 per share, for a total transaction of $99,996.60. Following the transaction, the director owned 2,080 shares in the company, valued at approximately $498,784. This trade represents a 25.08% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP John J. Rinello sold 105 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the senior vice president owned 3,225 shares in the company, valued at approximately $805,314.75. This represents 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.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on IT. The Goldman Sachs Group dropped their price target on Gartner from $535.00 to $457.00 and set a “buy” rating on the stock in a research note on Wednesday, August 6th. William Blair reiterated an “outperform” rating on shares of Gartner in a research report on Tuesday. Truist Financial assumed 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. Wells Fargo & Company dropped their target price 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, BMO Capital Markets dropped their target price on Gartner from $409.00 to $272.00 and set a “market perform” rating on the stock in a research report on Wednesday, August 6th. Four research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $346.20.

Gartner Trading Up 0.1%

Gartner stock opened at $251.27 on Friday. 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’s 50 day simple moving average is $248.50 and its two-hundred day simple moving average is $341.16. The firm has a market cap of $19.03 billion, a PE ratio of 15.46 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 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 business had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.68 billion. During the same quarter in the prior year, the firm posted $3.22 EPS. The business’s quarterly revenue was up 5.7% compared to the same quarter last year. Gartner has set its FY 2025 guidance at 11.750- EPS. Analysts anticipate that Gartner, Inc. will post 12.5 earnings per share for the current year.

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.