Federated Hermes Inc. Sells 50,020 Shares of Gartner, Inc. $IT

Federated Hermes Inc. reduced its position in shares of Gartner, Inc. (NYSE:IT) by 25.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 147,543 shares of the information technology services provider’s stock after selling 50,020 shares during the period. Federated Hermes Inc. owned approximately 0.19% of Gartner worth $59,640,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Jump Financial LLC increased its position in Gartner by 415.4% during the 2nd quarter. Jump Financial LLC now owns 27,292 shares of the information technology services provider’s stock worth $11,032,000 after buying an additional 21,997 shares during the period. Cresset Asset Management LLC grew its stake in shares of Gartner by 15.2% in the second quarter. Cresset Asset Management LLC now owns 1,446 shares of the information technology services provider’s stock valued at $585,000 after acquiring an additional 191 shares in the last quarter. Amundi increased its position in Gartner by 47.8% during the second quarter. Amundi now owns 488,268 shares of the information technology services provider’s stock worth $193,081,000 after acquiring an additional 157,978 shares during the period. Baird Financial Group Inc. raised its stake in Gartner by 27.3% in the 2nd quarter. Baird Financial Group Inc. now owns 89,911 shares of the information technology services provider’s stock worth $36,344,000 after purchasing an additional 19,300 shares in the last quarter. Finally, First Trust Advisors LP raised its stake in Gartner by 16.0% in the 2nd quarter. First Trust Advisors LP now owns 415,428 shares of the information technology services provider’s stock worth $167,924,000 after purchasing an additional 57,278 shares in the last quarter. 91.51% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, SVP John J. Rinello sold 220 shares of the company’s stock in a transaction on Wednesday, December 3rd. The shares were sold at an average price of $229.57, for a total transaction of $50,505.40. Following the completion of the transaction, the senior vice president directly owned 3,046 shares in the company, valued at approximately $699,270.22. This represents a 6.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Claire Herkes sold 367 shares of the stock in a transaction on Wednesday, December 3rd. The shares were sold at an average price of $231.56, for a total value of $84,982.52. Following the completion of the transaction, the executive vice president owned 4,074 shares of the company’s stock, valued at $943,375.44. The trade was a 8.26% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 3.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. William Blair restated an “outperform” rating on shares of Gartner in a research report on Tuesday, October 21st. Royal Bank Of Canada started coverage on Gartner in a research note on Tuesday, September 9th. They issued a “sector perform” rating and a $263.00 price target for the company. The Goldman Sachs Group lowered their price objective on Gartner from $457.00 to $390.00 and set a “buy” rating on the stock in a research note on Wednesday, November 5th. Morgan Stanley set a $307.00 price objective on Gartner in a report on Monday, October 13th. Finally, Wells Fargo & Company reduced their target price on Gartner from $231.00 to $218.00 and set an “underweight” rating on the stock in a report on Wednesday, November 5th. Four analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Gartner presently has a consensus rating of “Hold” and a consensus target price of $311.67.

Gartner Stock Down 1.2%

Shares of NYSE IT opened at $226.93 on Tuesday. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 4.42. The company has a market cap of $16.36 billion, a price-to-earnings ratio of 19.91 and a beta of 1.08. Gartner, Inc. has a 12 month low of $222.54 and a 12 month high of $584.01. The stock has a 50-day moving average price of $239.22 and a two-hundred day moving average price of $297.64.

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, beating analysts’ consensus estimates of $2.41 by $0.35. The company had revenue of $1.52 billion for the quarter, compared to the consensus estimate of $1.52 billion. Gartner had a net margin of 13.71% and a return on equity of 92.12%. Gartner has set its FY 2025 guidance at 12.650- EPS. As a group, analysts forecast that Gartner, Inc. will post 12.5 earnings per share for the current fiscal year.

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.