Interchange Capital Partners LLC Makes New Investment in Gartner, Inc. $IT

Interchange Capital Partners LLC bought a new position in Gartner, Inc. (NYSE:IT) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 496 shares of the information technology services provider’s stock, valued at approximately $200,000.

A number of other institutional investors have also added to or reduced their stakes in the business. Applied Finance Capital Management LLC increased its stake 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 during the last quarter. Allworth Financial LP increased its stake in Gartner by 5.6% in the 1st quarter. Allworth Financial LP now owns 562 shares of the information technology services provider’s stock worth $235,000 after acquiring an additional 30 shares during the last quarter. Sequoia Financial Advisors LLC increased its stake in 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 acquiring an additional 31 shares during the last quarter. Verdence Capital Advisors LLC boosted its holdings 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 purchasing an additional 34 shares in the last quarter. Finally, Resonant Capital Advisors LLC boosted its holdings 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 purchasing an additional 36 shares in the last quarter. 91.51% of the stock is currently owned by institutional investors.

Insider Activity at Gartner

In other Gartner news, SVP John J. Rinello sold 105 shares of the 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 trade represents a 3.15% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Jose M. Gutierrez acquired 417 shares of the company’s stock in a transaction on Monday, August 18th. The stock was acquired at an average price of $239.80 per share, with a total value of $99,996.60. Following the acquisition, 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 disclosure for this purchase can be found here. Company insiders own 3.60% of the company’s stock.

Gartner Trading Down 0.2%

Shares of IT stock opened at $250.40 on Monday. The stock has a market capitalization of $18.97 billion, a PE ratio of 15.41 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 business has a 50-day moving average of $248.73 and a 200 day moving average of $339.59. The company has a debt-to-equity ratio of 1.61, a current ratio of 1.11 and a quick ratio of 1.11.

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 company had revenue of $1.66 billion during the quarter, compared to analysts’ expectations of $1.68 billion. Gartner had a return on equity of 82.63% and a net margin of 19.71%.Gartner’s quarterly revenue was up 5.7% compared to the same quarter last year. During the same period in the prior year, the business posted $3.22 EPS. Gartner has set its FY 2025 guidance at 11.750- EPS. As a group, sell-side analysts anticipate that Gartner, Inc. will post 12.5 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on IT shares. Wells Fargo & Company cut their price objective on Gartner from $345.00 to $225.00 and set an “underweight” rating for the company in a report on Wednesday, August 6th. 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 report on Wednesday, August 6th. William Blair reiterated an “outperform” rating on shares of Gartner in a report on Tuesday, October 21st. Royal Bank Of Canada started coverage on Gartner in a report on Tuesday, September 9th. They issued a “sector perform” rating and a $263.00 price objective for the company. Finally, UBS Group upped their price objective on Gartner from $270.00 to $280.00 and gave the stock a “neutral” rating in a report on Monday, October 6th. Four investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $346.20.

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.