Aberdeen Group plc Sells 922 Shares of Gartner, Inc. $IT

Aberdeen Group plc decreased its holdings in shares of Gartner, Inc. (NYSE:IT) by 1.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 66,658 shares of the information technology services provider’s stock after selling 922 shares during the quarter. Aberdeen Group plc owned about 0.09% of Gartner worth $26,856,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently made changes to their positions in IT. Vanguard Group Inc. increased its holdings in shares of Gartner by 1.8% in the first quarter. Vanguard Group Inc. now owns 9,433,449 shares of the information technology services provider’s stock worth $3,959,596,000 after purchasing an additional 164,810 shares during the period. Generation Investment Management LLP increased its holdings in shares of Gartner by 16.5% in the first quarter. Generation Investment Management LLP now owns 1,341,342 shares of the information technology services provider’s stock worth $563,015,000 after purchasing an additional 189,514 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of Gartner by 20.5% in the first quarter. JPMorgan Chase & Co. now owns 1,245,563 shares of the information technology services provider’s stock worth $522,813,000 after purchasing an additional 211,842 shares during the period. T. Rowe Price Investment Management Inc. increased its holdings in shares of Gartner by 692.2% in the first quarter. T. Rowe Price Investment Management Inc. now owns 1,066,732 shares of the information technology services provider’s stock worth $447,751,000 after purchasing an additional 932,077 shares during the period. Finally, Northern Trust Corp increased its holdings in shares of Gartner by 11.0% in the first quarter. Northern Trust Corp now owns 1,006,655 shares of the information technology services provider’s stock worth $422,533,000 after purchasing an additional 99,822 shares during the period. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Gartner Stock Performance

NYSE IT opened at $245.46 on Tuesday. The company has a 50-day simple moving average of $247.13 and a two-hundred day simple moving average of $349.22. The company has a quick ratio of 1.11, a current 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 firm has a market cap of $18.59 billion, a price-to-earnings ratio of 15.11 and a beta of 1.20.

Gartner (NYSE:IT) last posted its quarterly earnings results on Tuesday, August 5th. The information technology services provider reported $3.53 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analyst estimates of $1.68 billion. During the same period in the prior year, the business posted $3.22 earnings per share. The company’s revenue was up 5.7% on a year-over-year basis. Gartner has set its FY 2025 guidance at 11.750- EPS. On average, equities analysts forecast that Gartner, Inc. will post 12.5 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on IT. BMO Capital Markets decreased their price target on shares of Gartner from $409.00 to $272.00 and set a “market perform” rating on the stock in a report on Wednesday, August 6th. Wells Fargo & Company decreased their price target on shares of Gartner from $345.00 to $225.00 and set an “underweight” rating on the stock in a report on Wednesday, August 6th. The Goldman Sachs Group cut their target price on shares of Gartner from $535.00 to $457.00 and set a “buy” rating for the company in a research report on Wednesday, August 6th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Gartner in a research report on Wednesday, October 8th. Finally, Barclays cut their target price on shares of Gartner from $475.00 to $320.00 and set an “overweight” rating for the company in a research report on Wednesday, August 6th. Three investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Gartner presently has a consensus rating of “Hold” and an average target price of $356.89.

Insider Transactions at Gartner

In other news, Director Jose M. Gutierrez bought 417 shares of the company’s stock in a transaction dated Monday, August 18th. The stock was bought at an average cost of $239.80 per share, for a total transaction of $99,996.60. Following the completion of 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 acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP John J. Rinello sold 105 shares of the stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $249.71, for a total transaction of $26,219.55. Following the sale, the senior vice president owned 3,225 shares of the company’s stock, valued at approximately $805,314.75. This represents a 3.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 3.60% 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.