Bessemer Group Inc. Trims Holdings in Gartner, Inc. $IT

Bessemer Group Inc. reduced its stake in shares of Gartner, Inc. (NYSE:IT) by 0.7% in the 2nd quarter, Holdings Channel reports. The fund owned 740,284 shares of the information technology services provider’s stock after selling 4,930 shares during the period. Bessemer Group Inc.’s holdings in Gartner were worth $299,238,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently bought and sold shares of IT. T. Rowe Price Investment Management Inc. raised its position in Gartner by 692.2% during the first quarter. T. Rowe Price Investment Management Inc. now owns 1,066,732 shares of the information technology services provider’s stock valued at $447,751,000 after acquiring an additional 932,077 shares in the last quarter. Nuveen LLC purchased a new stake in shares of Gartner during the 1st quarter worth about $128,318,000. JPMorgan Chase & Co. boosted its stake in shares of Gartner by 20.5% during the 1st quarter. JPMorgan Chase & Co. now owns 1,245,563 shares of the information technology services provider’s stock worth $522,813,000 after acquiring an additional 211,842 shares in the last quarter. Generation Investment Management LLP boosted its stake in shares of Gartner by 16.5% during the 1st quarter. Generation Investment Management LLP now owns 1,341,342 shares of the information technology services provider’s stock worth $563,015,000 after acquiring an additional 189,514 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of Gartner by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 9,433,449 shares of the information technology services provider’s stock worth $3,959,596,000 after acquiring an additional 164,810 shares in the last quarter. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently issued reports on IT. Morgan Stanley set a $307.00 target price on shares of Gartner in a research note on Monday, October 13th. William Blair restated an “outperform” rating on shares of Gartner in a research report on Tuesday, October 21st. UBS Group boosted their price objective on Gartner from $270.00 to $280.00 and gave the company a “neutral” rating in a research report on Monday, October 6th. Royal Bank Of Canada started coverage on Gartner in a research report on Tuesday, September 9th. They issued a “sector perform” rating and a $263.00 price objective for the company. Finally, BMO Capital Markets cut their price objective on Gartner from $409.00 to $272.00 and set a “market perform” rating for the company in a research report on Wednesday, August 6th. Four equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $346.20.

Gartner Stock Down 0.2%

Shares of IT opened at $250.40 on Monday. 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 one year low of $223.65 and a one year high of $584.01. The stock has a market capitalization of $18.96 billion, a price-to-earnings ratio of 15.41 and a beta of 1.20. The stock has a 50 day moving average price of $248.73 and a 200 day moving average price of $339.59.

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 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 firm had revenue of $1.66 billion during the quarter, compared to analysts’ expectations of $1.68 billion. During the same period in the previous year, the business earned $3.22 earnings per share. The firm’s revenue for the quarter was up 5.7% on a year-over-year basis. Gartner has set its FY 2025 guidance at 11.750- EPS. Equities research analysts forecast that Gartner, Inc. will post 12.5 earnings per share for the current fiscal year.

Insider Activity at Gartner

In other Gartner news, SVP John J. Rinello sold 105 shares of the business’s stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $249.71, for a total transaction of $26,219.55. Following 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Jose M. Gutierrez acquired 417 shares of the stock in a transaction on Monday, August 18th. The shares were bought at an average cost of $239.80 per share, for a total transaction of $99,996.60. Following the purchase, the director directly owned 2,080 shares of the company’s stock, valued at $498,784. The trade was a 25.08% increase in their position. The disclosure for this purchase can be found here. 2.30% of the stock is currently owned by insiders.

Gartner 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.