Gartner, Inc. $IT Shares Purchased by Renaissance Group LLC

Renaissance Group LLC boosted its position in shares of Gartner, Inc. (NYSE:IT) by 7.7% during the second quarter, Holdings Channel reports. The firm owned 72,196 shares of the information technology services provider’s stock after buying an additional 5,184 shares during the quarter. Renaissance Group LLC’s holdings in Gartner were worth $29,183,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in IT. T. Rowe Price Investment Management Inc. raised its stake in shares of Gartner by 692.2% during the 1st 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 buying an additional 932,077 shares during the last quarter. Sustainable Growth Advisers LP increased its holdings in Gartner by 71.7% during the 2nd quarter. Sustainable Growth Advisers LP now owns 1,161,513 shares of the information technology services provider’s stock valued at $469,507,000 after acquiring an additional 485,188 shares in the last quarter. Nuveen LLC acquired a new position in Gartner during the first quarter worth about $128,318,000. JPMorgan Chase & Co. lifted 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 valued at $522,813,000 after purchasing an additional 211,842 shares in the last quarter. Finally, Generation Investment Management LLP lifted 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 valued at $563,015,000 after purchasing an additional 189,514 shares in the last quarter. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Gartner Price Performance

IT opened at $226.34 on Wednesday. Gartner, Inc. has a 1 year low of $222.54 and a 1 year high of $584.01. The company’s 50 day simple moving average is $245.79 and its 200 day simple moving average is $318.51. The stock has a market capitalization of $16.31 billion, a PE ratio of 13.93 and a beta of 1.19. 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 (NYSE:IT) last posted its quarterly earnings results on Tuesday, November 4th. The information technology services provider reported $2.76 earnings per share for the quarter, topping analysts’ consensus estimates of $2.41 by $0.35. Gartner had a net margin of 19.71% and a return on equity of 82.63%. The company had revenue of $1.52 billion for the quarter, compared to the consensus estimate of $1.52 billion. Gartner has set its FY 2025 guidance at 12.650- EPS. As a group, sell-side analysts expect that Gartner, Inc. will post 12.5 EPS for the current year.

Analyst Upgrades and Downgrades

IT has been the subject of several research reports. The Goldman Sachs Group cut their price objective on Gartner from $457.00 to $390.00 and set a “buy” rating for the company in a research report on Wednesday, November 5th. Royal Bank Of Canada initiated coverage on Gartner in a report on Tuesday, September 9th. They issued a “sector perform” rating and a $263.00 price target for the company. Weiss Ratings lowered Gartner from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Saturday, October 25th. BMO Capital Markets cut their target price on shares of Gartner from $272.00 to $254.00 and set a “market perform” rating for the company in a research note on Wednesday, November 5th. Finally, Truist Financial assumed coverage on shares of Gartner in a report on Thursday, October 16th. They issued a “buy” rating and a $300.00 target price on the stock. Four research analysts have rated the stock with a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $311.67.

Insider Buying and Selling

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 transaction of $26,219.55. Following the transaction, the senior vice president owned 3,225 shares of the company’s stock, valued at $805,314.75. This trade represents a 3.15% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 2.30% of the stock is currently owned by corporate insiders.

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.