Anchor Capital Advisors LLC Cuts Stock Holdings in Gartner, Inc. $IT

Anchor Capital Advisors LLC lowered its position in shares of Gartner, Inc. (NYSE:IT) by 94.5% in the third quarter, Holdings Channel.com reports. The fund owned 3,772 shares of the information technology services provider’s stock after selling 64,664 shares during the quarter. Anchor Capital Advisors LLC’s holdings in Gartner were worth $992,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Addison Advisors LLC purchased a new stake in shares of Gartner during the second quarter worth approximately $27,000. Chilton Capital Management LLC purchased a new position in Gartner in the 2nd quarter valued at $47,000. Osterweis Capital Management Inc. acquired a new stake in Gartner during the 2nd quarter worth $48,000. True Wealth Design LLC grew its holdings in shares of Gartner by 1,130.8% during the third quarter. True Wealth Design LLC now owns 160 shares of the information technology services provider’s stock worth $42,000 after buying an additional 147 shares in the last quarter. Finally, Versant Capital Management Inc grew its holdings in shares of Gartner by 1,284.6% during the third quarter. Versant Capital Management Inc now owns 180 shares of the information technology services provider’s stock worth $47,000 after buying an additional 167 shares in the last quarter. 91.51% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Gartner

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. William Blair reissued an “outperform” rating on shares of Gartner in a research note on Tuesday, October 21st. Wells Fargo & Company dropped their price objective on shares of Gartner from $231.00 to $218.00 and set an “underweight” rating for the company in a research note on Wednesday, November 5th. Truist Financial set a $300.00 target price on shares of Gartner in a research note on Wednesday, November 26th. UBS Group boosted their target price on Gartner from $256.00 to $270.00 and gave the stock a “neutral” rating in a report on Friday, January 9th. Finally, The Goldman Sachs Group dropped their price target on Gartner from $457.00 to $390.00 and set a “buy” rating for the company in a research report on Wednesday, November 5th. Four investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $309.67.

Gartner Stock Performance

Shares of IT stock opened at $232.59 on Thursday. The company has a debt-to-equity ratio of 4.42, a quick ratio of 0.88 and a current ratio of 0.88. The firm has a market cap of $16.76 billion, a P/E ratio of 20.40 and a beta of 1.07. The firm’s 50 day moving average price is $238.05 and its 200-day moving average price is $259.95. Gartner, Inc. has a one year low of $221.16 and a one year high of $584.01.

Gartner (NYSE:IT) last posted its 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 firm had revenue of $1.52 billion during 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, equities research analysts predict that Gartner, Inc. will post 12.5 EPS for the current year.

Gartner Company Profile

Gartner, Inc is a global research and advisory firm that provides insights, advice and tools for leaders in IT, finance, HR, customer service and other business functions. Founded in 1979 and headquartered in Stamford, Connecticut, Gartner specializes in helping organizations make informed decisions about technology, operations and strategy through a combination of published research, advisory services, consulting, executive programs and events.

The company’s offerings include proprietary research reports, market forecasts, and analytical frameworks that are widely used by technology buyers and vendors.