Jefferies Financial Group Inc. Takes Position in Gartner, Inc. $IT

Jefferies Financial Group Inc. acquired a new position in Gartner, Inc. (NYSE:IT) in the second quarter, HoldingsChannel.com reports. The institutional investor acquired 53,796 shares of the information technology services provider’s stock, valued at approximately $6,973,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Oppenheimer Asset Management Inc. acquired a new position in shares of Gartner in the 2nd quarter valued at $2,872,000. Plato Investment Management Ltd boosted its position in shares of Gartner by 293.4% in the 4th quarter. Plato Investment Management Ltd now owns 9,002 shares of the information technology services provider’s stock worth $2,282,000 after purchasing an additional 6,714 shares during the last quarter. Wedge Capital Management L L P NC grew its stake in shares of Gartner by 34.1% during the second quarter. Wedge Capital Management L L P NC now owns 54,196 shares of the information technology services provider’s stock worth $7,025,000 after purchasing an additional 13,776 shares during the period. Bank of America Corp DE grew its stake in shares of Gartner by 60.1% during the first quarter. Bank of America Corp DE now owns 773,771 shares of the information technology services provider’s stock worth $122,519,000 after purchasing an additional 290,499 shares during the period. Finally, Comerica Bank increased its holdings in Gartner by 60.8% in the fourth quarter. Comerica Bank now owns 22,274 shares of the information technology services provider’s stock valued at $5,619,000 after purchasing an additional 8,426 shares during the last quarter. 91.51% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have weighed in on IT. Wells Fargo & Company increased their target price on Gartner from $120.00 to $150.00 and gave the company an “underweight” rating in a research note on Wednesday, August 5th. Morgan Stanley set a $177.00 target price on Gartner in a research report on Wednesday, August 5th. BMO Capital Markets cut their price target on shares of Gartner from $214.00 to $206.00 and set a “market perform” rating on the stock in a research report on Tuesday, August 18th. Zacks Research upgraded shares of Gartner from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 6th. Finally, Truist Financial set a $205.00 price objective on shares of Gartner in a research note on Wednesday, August 5th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $187.30.

Insider Transactions at Gartner

In related news, Director Anne Sutherland Fuchs sold 860 shares of the stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $184.30, for a total transaction of $158,498.00. Following the completion of the sale, the director directly owned 8,097 shares of the company’s stock, valued at approximately $1,492,277.10. This represents a 9.60% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Yvonne Genovese sold 1,205 shares of the firm’s stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $190.06, for a total transaction of $229,022.30. Following the sale, the executive vice president owned 6,208 shares in the company, valued at $1,179,892.48. This trade represents a 16.26% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 2,765 shares of company stock valued at $528,731 over the last 90 days. 2.60% of the stock is owned by company insiders.

Gartner Price Performance

IT opened at $196.26 on Friday. The stock has a market cap of $12.39 billion, a P/E ratio of 17.60, a P/E/G ratio of 0.67 and a beta of 0.94. Gartner, Inc. has a 12 month low of $124.25 and a 12 month high of $265.85. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 46.98. The company has a fifty day simple moving average of $156.37 and a 200 day simple moving average of $155.97.

Gartner (NYSE:IT) last posted its earnings results on Tuesday, August 4th. The information technology services provider reported $4.37 earnings per share for the quarter, topping the consensus estimate of $3.76 by $0.61. Gartner had a return on equity of 525.46% and a net margin of 11.99%.The firm had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.65 billion. During the same period in the previous year, the company posted $3.53 earnings per share. The company’s revenue for the quarter was down .6% on a year-over-year basis. Gartner has set its FY 2026 guidance at 14.000- EPS. On average, research analysts expect that Gartner, Inc. will post 14.42 EPS for the current year.

About Gartner

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.