Thrivent Financial for Lutherans Cuts Position in Gartner, Inc. $IT

Thrivent Financial for Lutherans trimmed its position in shares of Gartner, Inc. (NYSE:IT) by 28.3% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 24,355 shares of the information technology services provider’s stock after selling 9,618 shares during the period. Thrivent Financial for Lutherans’ holdings in Gartner were worth $9,845,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of IT. Addison Advisors LLC acquired a new position in Gartner during the 2nd quarter worth about $27,000. Ransom Advisory Ltd purchased a new stake in Gartner during the first quarter worth about $29,000. Chilton Capital Management LLC purchased a new stake in Gartner during the second quarter worth about $47,000. Osterweis Capital Management Inc. acquired a new stake in shares of Gartner during the second quarter worth about $48,000. Finally, Bayforest Capital Ltd boosted its stake in shares of Gartner by 527.3% in the first quarter. Bayforest Capital Ltd now owns 138 shares of the information technology services provider’s stock valued at $58,000 after purchasing an additional 116 shares during the period. 91.51% of the stock is owned by institutional investors and hedge funds.

Gartner Stock Performance

Shares of IT stock opened at $250.96 on Thursday. The company has a market cap of $18.09 billion, a P/E ratio of 22.01 and a beta of 1.08. The firm has a fifty day moving average price of $237.12 and a 200 day moving average price of $288.85. 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, Inc. has a 12 month low of $222.54 and a 12 month high of $584.01.

Gartner (NYSE:IT) last announced its quarterly earnings results on Tuesday, November 4th. The information technology services provider reported $2.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.41 by $0.35. The company had revenue of $1.52 billion during the quarter, compared to the consensus estimate of $1.52 billion. Gartner had a return on equity of 92.12% and a net margin of 13.71%.Gartner has set its FY 2025 guidance at 12.650- EPS. Sell-side analysts predict that Gartner, Inc. will post 12.5 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Stephen G. Pagliuca acquired 43,300 shares of Gartner stock in a transaction dated Wednesday, December 10th. The stock was acquired at an average price of $229.57 per share, for a total transaction of $9,940,381.00. Following the transaction, the director owned 111,613 shares of the company’s stock, valued at $25,622,996.41. This represents a 63.38% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Claire Herkes sold 367 shares of the stock in a transaction on Wednesday, December 3rd. The shares were sold at an average price of $231.56, for a total transaction of $84,982.52. Following the completion of the transaction, the executive vice president directly owned 4,074 shares in the company, valued at $943,375.44. This trade represents a 8.26% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 2.30% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Wells Fargo & Company cut their target price on shares of Gartner from $231.00 to $218.00 and set an “underweight” rating on the stock in a research note on Wednesday, November 5th. Truist Financial set a $300.00 price objective on Gartner in a research report on Wednesday, November 26th. Wolfe Research initiated coverage on Gartner in a research note on Wednesday, September 3rd. They issued a “peer perform” rating on the stock. Royal Bank Of Canada initiated coverage on Gartner in a research note on Tuesday, September 9th. They set a “sector perform” rating and a $263.00 target price for the company. Finally, William Blair reaffirmed an “outperform” rating on shares of Gartner in a research report on Tuesday, October 21st. Four analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $308.11.

Gartner Company 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.