Assenagon Asset Management S.A. Raises Stock Holdings in Gartner, Inc. $IT

Assenagon Asset Management S.A. boosted its stake in Gartner, Inc. (NYSE:IT) by 3.6% during the third quarter, HoldingsChannel reports. The firm owned 143,266 shares of the information technology services provider’s stock after buying an additional 4,998 shares during the period. Assenagon Asset Management S.A.’s holdings in Gartner were worth $37,660,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Sequoia Financial Advisors LLC raised its position in shares of Gartner by 1.8% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 1,725 shares of the information technology services provider’s stock valued at $697,000 after buying an additional 31 shares in the last quarter. Verdence Capital Advisors LLC increased its stake in Gartner by 2.6% in the second quarter. Verdence Capital Advisors LLC now owns 1,333 shares of the information technology services provider’s stock valued at $539,000 after acquiring an additional 34 shares during the last quarter. Accurate Wealth Management LLC raised its position in Gartner by 2.8% during the second quarter. Accurate Wealth Management LLC now owns 1,308 shares of the information technology services provider’s stock valued at $507,000 after purchasing an additional 36 shares in the last quarter. EP Wealth Advisors LLC raised its position in Gartner by 5.0% during the first quarter. EP Wealth Advisors LLC now owns 800 shares of the information technology services provider’s stock valued at $336,000 after purchasing an additional 38 shares in the last quarter. Finally, Apollon Wealth Management LLC lifted its stake in Gartner by 4.2% during the second quarter. Apollon Wealth Management LLC now owns 965 shares of the information technology services provider’s stock worth $390,000 after purchasing an additional 39 shares during the last quarter. 91.51% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on IT. Weiss Ratings cut Gartner from a “hold (c-)” rating to a “sell (d+)” rating in a report on Saturday, October 25th. Barclays decreased their price target on shares of Gartner from $270.00 to $260.00 and set an “equal weight” rating on the stock in a research note on Wednesday, November 5th. Royal Bank Of Canada started coverage on shares of Gartner in a research note on Tuesday, September 9th. They issued a “sector perform” rating and a $263.00 price objective for the company. Truist Financial set a $300.00 target price on shares of Gartner in a report on Wednesday, November 26th. Finally, Wolfe Research assumed coverage on shares of Gartner in a research note on Wednesday, September 3rd. They issued a “peer perform” rating for the company. Four investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Gartner has a consensus rating of “Hold” and an average target price of $308.11.

Insider Buying and Selling

In related news, SVP John J. Rinello sold 220 shares of the business’s stock in a transaction dated Wednesday, December 3rd. The stock was sold at an average price of $229.57, for a total transaction of $50,505.40. Following the transaction, the senior vice president owned 3,046 shares in the company, valued at $699,270.22. The trade was a 6.74% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Stephen G. Pagliuca purchased 43,300 shares of the stock in a transaction on Wednesday, December 10th. The shares were acquired at an average cost of $229.57 per share, with a total value of $9,940,381.00. Following the transaction, the director directly owned 111,613 shares in the company, valued at $25,622,996.41. The trade was a 63.38% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 2.30% of the stock is owned by insiders.

Gartner Stock Down 0.8%

Shares of Gartner stock opened at $249.30 on Friday. The company has a debt-to-equity ratio of 4.42, a quick ratio of 0.88 and a current ratio of 0.88. Gartner, Inc. has a 52-week low of $222.54 and a 52-week high of $584.01. The company’s 50 day moving average price is $237.22 and its 200-day moving average price is $288.58. The stock has a market capitalization of $17.97 billion, a price-to-earnings ratio of 21.87 and a beta of 1.08.

Gartner (NYSE:IT) last announced its quarterly earnings results on Tuesday, November 4th. The information technology services provider reported $2.76 earnings per share for the quarter, beating the consensus estimate of $2.41 by $0.35. Gartner had a net margin of 13.71% and a return on equity of 92.12%. The business had revenue of $1.52 billion during the quarter, compared to analysts’ expectations of $1.52 billion. Gartner has set its FY 2025 guidance at 12.650- EPS. Equities research analysts forecast that Gartner, Inc. will post 12.5 EPS for the current 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.