Connor Clark & Lunn Investment Management Ltd. Reduces Stock Position in Gartner, Inc. $IT

Connor Clark & Lunn Investment Management Ltd. trimmed its holdings in shares of Gartner, Inc. (NYSE:IT) by 40.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,309 shares of the information technology services provider’s stock after selling 5,612 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Gartner were worth $3,359,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Ransom Advisory Ltd bought a new stake in Gartner during the 1st quarter valued at $29,000. GW&K Investment Management LLC boosted its position in Gartner by 210.8% during the first quarter. GW&K Investment Management LLC now owns 115 shares of the information technology services provider’s stock valued at $48,000 after purchasing an additional 78 shares in the last quarter. Chilton Capital Management LLC purchased a new position in Gartner in the second quarter valued at about $47,000. Bayforest Capital Ltd raised its holdings in Gartner by 527.3% in the first quarter. Bayforest Capital Ltd now owns 138 shares of the information technology services provider’s stock worth $58,000 after purchasing an additional 116 shares in the last quarter. Finally, WPG Advisers LLC purchased a new stake in shares of Gartner during the first quarter valued at about $69,000. 91.51% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on IT. Wells Fargo & Company cut their price objective on shares of Gartner from $231.00 to $218.00 and set an “underweight” rating on the stock in a research report on Wednesday, November 5th. Wolfe Research assumed coverage on Gartner in a research report on Wednesday, September 3rd. They set a “peer perform” rating on the stock. The Goldman Sachs Group lowered 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. Morgan Stanley set a $307.00 target price on Gartner in a research report on Monday, October 13th. Finally, William Blair reissued an “outperform” rating on shares of Gartner in a report on Tuesday, October 21st. Four investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Gartner presently has an average rating of “Hold” and an average target price of $311.67.

Insider Activity at Gartner

In related news, SVP John J. Rinello sold 105 shares of the business’s stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $249.71, for a total transaction of $26,219.55. Following the completion of the transaction, the senior vice president directly owned 3,225 shares in the company, valued at $805,314.75. The trade was a 3.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Jose M. Gutierrez purchased 417 shares of the business’s stock in a transaction on Monday, August 18th. The shares were bought at an average cost of $239.80 per share, for a total transaction of $99,996.60. Following the completion of the transaction, the director directly owned 2,080 shares in the company, valued at $498,784. This trade represents a 25.08% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders own 2.30% of the company’s stock.

Gartner Stock Performance

Shares of IT opened at $231.06 on Friday. The company has a debt-to-equity ratio of 1.61, a quick ratio of 1.11 and a current ratio of 1.11. The stock has a 50-day moving average of $246.58 and a two-hundred day moving average of $322.68. The stock has a market cap of $17.50 billion, a P/E ratio of 14.22 and a beta of 1.19. Gartner, Inc. has a one year low of $222.54 and a one year high of $584.01.

Gartner (NYSE:IT) last announced its quarterly earnings data on Tuesday, November 4th. The information technology services provider reported $2.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.41 by $0.35. The firm had revenue of $1.52 billion during the quarter, compared to analysts’ expectations of $1.52 billion. Gartner had a return on equity of 82.63% and a net margin of 19.71%. Gartner has set its FY 2025 guidance at 12.650- EPS. As a group, research analysts predict 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.