Voya Investment Management LLC Decreases Stake in Gartner, Inc. $IT

Voya Investment Management LLC decreased its holdings in shares of Gartner, Inc. (NYSE:IT) by 62.1% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,923 shares of the information technology services provider’s stock after selling 29,315 shares during the quarter. Voya Investment Management LLC’s holdings in Gartner were worth $4,711,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of IT. Addison Advisors LLC acquired a new position in Gartner during the second quarter worth about $27,000. Ransom Advisory Ltd purchased a new position in Gartner in the 1st quarter worth approximately $29,000. Chilton Capital Management LLC acquired a new position in shares of Gartner during the 2nd quarter worth approximately $47,000. Osterweis Capital Management Inc. acquired a new position in shares of Gartner during the 2nd quarter worth approximately $48,000. Finally, Bayforest Capital Ltd grew its position 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 in the last quarter. 91.51% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently commented on IT. UBS Group set a $256.00 price objective on Gartner and gave the stock a “neutral” rating in a research report on Tuesday, November 25th. Weiss Ratings downgraded Gartner from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Saturday, October 25th. Wolfe Research initiated coverage on shares of Gartner in a research report on Wednesday, September 3rd. They set a “peer perform” rating on the stock. Barclays dropped their price objective on shares of Gartner from $270.00 to $260.00 and set an “equal weight” rating for the company in a report on Wednesday, November 5th. Finally, Royal Bank Of Canada began coverage on shares of Gartner in a research note on Tuesday, September 9th. They set a “sector perform” rating and a $263.00 target price on the stock. Four analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Gartner currently has a consensus rating of “Hold” and an average price target of $308.11.

Gartner Stock Up 0.3%

Shares of NYSE:IT opened at $251.18 on Friday. The company has a market capitalization of $18.11 billion, a price-to-earnings ratio of 22.03 and a beta of 1.08. Gartner, Inc. has a 12-month low of $222.54 and a 12-month high of $584.01. The business has a 50-day moving average price of $238.20 and a 200 day moving average price of $282.48. 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 announced its earnings results on Tuesday, November 4th. The information technology services provider reported $2.76 earnings per share for the quarter, topping the consensus estimate of $2.41 by $0.35. The company had revenue of $1.52 billion during the quarter, compared to analyst estimates of $1.52 billion. Gartner had a net margin of 13.71% and a return on equity of 92.12%. Gartner has set its FY 2025 guidance at 12.650- EPS. Sell-side analysts expect that Gartner, Inc. will post 12.5 EPS for the current year.

Insider Buying and Selling

In other news, SVP John J. Rinello sold 220 shares of the firm’s stock in a transaction on Wednesday, December 3rd. The stock was sold at an average price of $229.57, for a total transaction of $50,505.40. Following the completion of the transaction, the senior vice president directly owned 3,046 shares in the company, valued at $699,270.22. This trade represents a 6.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Claire Herkes sold 367 shares of Gartner stock in a transaction on Wednesday, December 3rd. The shares were sold at an average price of $231.56, for a total value of $84,982.52. Following the completion of the sale, the executive vice president directly owned 4,074 shares of the company’s stock, valued at $943,375.44. The trade was 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 currently owned by corporate insiders.

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.