Aberdeen Group plc Sells 922 Shares of Gartner, Inc. $IT

by · The Markets Daily

Aberdeen Group plc reduced its stake in Gartner, Inc. (NYSE:IT – Free Report) by 1.4% in the second quarter, Holdings Channel.com reports. The institutional investor owned 66,658 shares of the information technology services provider’s stock after selling 922 shares during the period. Aberdeen Group plc’s holdings in Gartner were worth $26,856,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Ransom Advisory Ltd bought a new position in Gartner in the first quarter worth about $29,000. Olde Wealth Management LLC bought a new position in Gartner in the first quarter worth about $42,000. GW&K Investment Management LLC increased its stake 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 in the last quarter. Wayfinding Financial LLC bought a new position in shares of Gartner during the first quarter valued at approximately $55,000. Finally, Bayforest Capital Ltd increased its stake in shares of Gartner by 527.3% during 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 institutional investors.

Analyst Ratings Changes

IT has been the subject of a number of analyst reports. The Goldman Sachs Group decreased their target price on shares of Gartner from $535.00 to $457.00 and set a “buy” rating for the company in a research note on Wednesday, August 6th. Royal Bank Of Canada initiated 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 for the company. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Gartner in a research note on Wednesday, October 8th. Morgan Stanley set a $307.00 target price on shares of Gartner in a research note on Monday. Finally, UBS Group raised their target price on shares of Gartner from $270.00 to $280.00 and gave the company a “neutral” rating in a research note on Monday, October 6th. Three research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $356.89.

View Our Latest Stock Report on IT

Insider Buying and Selling at Gartner

In other news, Director Jose M. Gutierrez acquired 417 shares of the firm’s stock in a transaction dated Monday, August 18th. The shares were purchased at an average cost of $239.80 per share, for a total transaction of $99,996.60. Following the transaction, the director directly owned 2,080 shares of the company’s stock, valued at approximately $498,784. This trade represents a 25.08% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP John J. Rinello sold 105 shares of the firm’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 sale, the senior vice president 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 disclosure for this sale can be found here. Company insiders own 3.60% of the company’s stock.

Gartner Trading Up 2.5%

NYSE:IT opened at $245.46 on Tuesday. The company’s 50 day moving average price is $247.13 and its 200-day moving average price is $349.22. Gartner, Inc. has a 52 week low of $223.65 and a 52 week high of $584.01. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 1.61. The stock has a market cap of $18.59 billion, a price-to-earnings ratio of 15.11 and a beta of 1.20.

Gartner (NYSE:IT – Get Free Report) last issued its earnings results on Tuesday, August 5th. The information technology services provider reported $3.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.38 by $0.15. Gartner had a net margin of 19.71% and a return on equity of 82.63%. The company had revenue of $1.66 billion for the quarter, compared to analysts’ expectations of $1.68 billion. During the same quarter last year, the company posted $3.22 earnings per share. The firm’s quarterly revenue was up 5.7% on a year-over-year basis. Gartner has set its FY 2025 guidance at 11.750- EPS. On average, equities research analysts forecast that Gartner, Inc. will post 12.5 earnings per share for the current fiscal year.

About Gartner

(Free Report)

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.

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