Resonant Capital Advisors LLC Boosts Holdings in Gartner, Inc. $IT

Resonant Capital Advisors LLC raised its holdings in shares of Gartner, Inc. (NYSE:IT) by 7.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,494 shares of the information technology services provider’s stock after acquiring an additional 170 shares during the quarter. Resonant Capital Advisors LLC’s holdings in Gartner were worth $1,008,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Ransom Advisory Ltd purchased a new position in Gartner during the 1st quarter valued at about $29,000. Olde Wealth Management LLC acquired a new stake in shares of Gartner during the 1st quarter worth about $42,000. GW&K Investment Management LLC boosted its stake in shares of Gartner by 210.8% during the 1st quarter. GW&K Investment Management LLC now owns 115 shares of the information technology services provider’s stock worth $48,000 after purchasing an additional 78 shares during the last quarter. Wayfinding Financial LLC acquired a new stake in shares of Gartner during the 1st quarter worth about $55,000. Finally, Bayforest Capital Ltd boosted its stake in shares of Gartner by 527.3% during the 1st quarter. Bayforest Capital Ltd now owns 138 shares of the information technology services provider’s stock worth $58,000 after purchasing an additional 116 shares during the last quarter. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have issued reports on IT shares. UBS Group raised their price target on shares of Gartner from $270.00 to $280.00 and gave the stock a “neutral” rating in a research note on Monday, October 6th. Barclays set a $270.00 price target on shares of Gartner and gave the stock an “equal weight” rating in a research note on Wednesday. William Blair reaffirmed an “outperform” rating on shares of Gartner in a research note on Tuesday, October 21st. Truist Financial started coverage on shares of Gartner in a research note on Thursday, October 16th. They set a “buy” rating and a $300.00 price target on the stock. Finally, Weiss Ratings cut shares of Gartner from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Saturday. Four equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $346.20.

Insider Buying and Selling

In other Gartner news, 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 transaction of $26,219.55. Following the transaction, the senior vice president directly owned 3,225 shares of the company’s stock, valued at $805,314.75. The trade was a 3.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Jose M. Gutierrez purchased 417 shares of Gartner stock in a transaction on Monday, August 18th. The shares were acquired at an average cost of $239.80 per share, for a total transaction of $99,996.60. Following the completion of the transaction, the director owned 2,080 shares of the company’s stock, valued at $498,784. This represents a 25.08% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 3.60% of the company’s stock.

Gartner Price Performance

IT opened at $250.40 on Monday. The company’s 50 day simple moving average is $248.73 and its 200 day simple moving average is $339.59. 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 1 year low of $223.65 and a 1 year high of $584.01. The stock has a market capitalization of $18.97 billion, a PE ratio of 15.41 and a beta of 1.20.

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

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.