QRG Capital Management Inc. Decreases Holdings in Gartner, Inc. $IT

QRG Capital Management Inc. lowered its holdings in Gartner, Inc. (NYSE:IT) by 59.3% during the third quarter, HoldingsChannel reports. The fund owned 1,547 shares of the information technology services provider’s stock after selling 2,253 shares during the period. QRG Capital Management Inc.’s holdings in Gartner were worth $407,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in Gartner by 1.5% in the second quarter. Vanguard Group Inc. now owns 9,572,283 shares of the information technology services provider’s stock valued at $3,869,308,000 after purchasing an additional 138,834 shares in the last quarter. State Street Corp lifted its position in shares of Gartner by 2.9% during the 2nd quarter. State Street Corp now owns 3,413,397 shares of the information technology services provider’s stock worth $1,379,763,000 after buying an additional 96,172 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Gartner by 4.1% in the 2nd quarter. Geode Capital Management LLC now owns 2,258,233 shares of the information technology services provider’s stock valued at $910,481,000 after buying an additional 89,877 shares in the last quarter. Sustainable Growth Advisers LP grew its position in shares of Gartner by 71.7% in 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 buying an additional 485,188 shares during the last quarter. Finally, Norges Bank acquired a new stake in Gartner during the 2nd quarter worth $394,133,000. Institutional investors and hedge funds own 91.51% of the company’s stock.

Gartner Trading Down 2.3%

Shares of IT stock opened at $231.69 on Friday. The business’s 50 day moving average is $238.19 and its two-hundred day moving average is $258.63. Gartner, Inc. has a twelve month low of $221.16 and a twelve month high of $584.01. The company has a market capitalization of $16.70 billion, a P/E ratio of 20.32 and a beta of 1.07. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 4.42.

Gartner (NYSE:IT) last released its quarterly earnings results on Tuesday, November 4th. The information technology services provider reported $2.76 EPS for the quarter, topping the consensus estimate of $2.41 by $0.35. Gartner had a return on equity of 92.12% and a net margin of 13.71%.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 analysts forecast that Gartner, Inc. will post 12.5 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on IT. BMO Capital Markets dropped their price objective on Gartner from $272.00 to $254.00 and set a “market perform” rating on the stock in a report on Wednesday, November 5th. Truist Financial set a $300.00 price target on Gartner in a research note on Wednesday, November 26th. Barclays cut their price target on Gartner from $270.00 to $260.00 and set an “equal weight” rating on the stock in a research report on Wednesday, November 5th. The Goldman Sachs Group decreased their price objective on Gartner from $457.00 to $390.00 and set a “buy” rating for the company in a report on Wednesday, November 5th. Finally, UBS Group lifted their target price on shares of Gartner from $256.00 to $270.00 and gave the company a “neutral” rating in a report on Friday, January 9th. Four research 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. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $309.67.

Insider Transactions at Gartner

In other news, Director Stephen G. Pagliuca bought 43,300 shares of the stock in a transaction dated Wednesday, December 10th. The shares were acquired at an average price of $229.57 per share, with a total value of $9,940,381.00. Following the completion of the acquisition, the director directly owned 111,613 shares in the company, valued at approximately $25,622,996.41. The trade was a 63.38% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 approximately $699,270.22. This trade represents a 6.74% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 2.30% of the company’s stock.

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.