Los Angeles Capital Management LLC Acquires 6,245 Shares of Gartner, Inc. $IT

Los Angeles Capital Management LLC increased its holdings in Gartner, Inc. (NYSE:IT) by 51.0% in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 18,483 shares of the information technology services provider’s stock after buying an additional 6,245 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Gartner were worth $7,471,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the business. Ransom Advisory Ltd purchased a new stake in shares of Gartner during the 1st quarter valued at about $29,000. GW&K Investment Management LLC raised its holdings in shares of 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 during the last quarter. Chilton Capital Management LLC bought a new position in Gartner during the second quarter valued at approximately $47,000. Bayforest Capital Ltd boosted 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 during the last quarter. Finally, WPG Advisers LLC bought a new stake in Gartner in the 1st quarter worth approximately $69,000. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Truist Financial began coverage on shares of Gartner in a research note on Thursday, October 16th. They set a “buy” rating and a $300.00 target price for the company. UBS Group cut their price objective on Gartner from $280.00 to $256.00 and set a “neutral” rating for the company in a report on Wednesday, November 5th. Barclays lowered their target price on Gartner from $270.00 to $260.00 and set an “equal weight” rating on the stock in a report on Wednesday. Royal Bank Of Canada assumed coverage on Gartner in a research report on Tuesday, September 9th. They issued a “sector perform” rating and a $263.00 target price on the stock. Finally, The Goldman Sachs Group reduced their price target on shares of 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 issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $311.67.

Gartner Stock Performance

IT opened at $230.44 on Monday. The company has a 50 day simple moving average of $248.17 and a two-hundred day simple moving average of $327.92. The company has a debt-to-equity ratio of 1.61, a current ratio of 1.11 and a quick ratio of 1.11. The firm has a market cap of $17.45 billion, a P/E ratio of 14.18 and a beta of 1.19. Gartner, Inc. has a 1-year low of $222.54 and a 1-year high of $584.01.

Gartner (NYSE:IT) last released its earnings results on Tuesday, November 4th. The information technology services provider reported $2.76 earnings per share for the quarter, beating analysts’ consensus estimates of $2.41 by $0.35. The company had revenue of $1.52 billion for the quarter, compared to analysts’ expectations of $1.52 billion. Gartner had a net margin of 19.71% and a return on equity of 82.63%. Gartner has set its FY 2025 guidance at 12.650- EPS. Equities analysts forecast that Gartner, Inc. will post 12.5 earnings per share for the current fiscal year.

Insider Activity

In related news, SVP John J. Rinello sold 105 shares of Gartner stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $249.71, for a total transaction of $26,219.55. Following the sale, the senior vice president owned 3,225 shares of the company’s stock, valued at approximately $805,314.75. This trade represents a 3.15% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jose M. Gutierrez purchased 417 shares of the stock in a transaction that occurred on Monday, August 18th. The stock was acquired at an average cost of $239.80 per share, for a total transaction of $99,996.60. Following the completion of the acquisition, the director owned 2,080 shares in the company, valued at $498,784. This represents a 25.08% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 2.30% of the stock is owned by insiders.

About Gartner

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.