Plato Investment Management Ltd Sells 58 Shares of Gartner, Inc. $IT

Plato Investment Management Ltd trimmed its position in Gartner, Inc. (NYSE:IT) by 2.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,140 shares of the information technology services provider’s stock after selling 58 shares during the quarter. Plato Investment Management Ltd’s holdings in Gartner were worth $908,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of Gartner by 1.8% in the first quarter. Vanguard Group Inc. now owns 9,433,449 shares of the information technology services provider’s stock worth $3,959,596,000 after purchasing an additional 164,810 shares during the last quarter. Generation Investment Management LLP increased its holdings in shares of Gartner by 16.5% in the first quarter. Generation Investment Management LLP now owns 1,341,342 shares of the information technology services provider’s stock worth $563,015,000 after purchasing an additional 189,514 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Gartner by 20.5% in the first quarter. JPMorgan Chase & Co. now owns 1,245,563 shares of the information technology services provider’s stock worth $522,813,000 after purchasing an additional 211,842 shares during the last quarter. T. Rowe Price Investment Management Inc. increased its stake in Gartner by 692.2% during the first quarter. T. Rowe Price Investment Management Inc. now owns 1,066,732 shares of the information technology services provider’s stock worth $447,751,000 after acquiring an additional 932,077 shares during the last quarter. Finally, Northern Trust Corp increased its stake in Gartner by 11.0% during the first quarter. Northern Trust Corp now owns 1,006,655 shares of the information technology services provider’s stock worth $422,533,000 after acquiring an additional 99,822 shares during the last quarter. 91.51% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Gartner news, Director Jose M. Gutierrez bought 417 shares of the business’s stock in a transaction dated Monday, August 18th. The shares were purchased at an average price of $239.80 per share, with a total value of $99,996.60. Following the completion of the purchase, the director owned 2,080 shares in the company, valued at $498,784. This represents a 25.08% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP John J. Rinello sold 105 shares of the company’s stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $249.71, for a total value of $26,219.55. Following the transaction, the senior vice president directly owned 3,225 shares in the company, valued at approximately $805,314.75. This represents a 3.15% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on IT. The Goldman Sachs Group reduced their price objective on Gartner from $535.00 to $457.00 and set a “buy” rating on the stock in a research note on Wednesday, August 6th. Royal Bank Of Canada began coverage on Gartner in a research note on Tuesday. They set a “sector perform” rating and a $263.00 price objective on the stock. Wolfe Research began coverage on Gartner in a research note on Wednesday, September 3rd. They set a “peer perform” rating on the stock. UBS Group reissued a “neutral” rating and set a $270.00 price objective (down from $480.00) on shares of Gartner in a research note on Wednesday, August 6th. Finally, Wells Fargo & Company reduced their price objective on Gartner from $345.00 to $225.00 and set an “underweight” rating on the stock in a research note on Wednesday, August 6th. Three analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $357.44.

Gartner Trading Up 3.6%

IT opened at $241.01 on Friday. The stock has a market cap of $18.25 billion, a price-to-earnings ratio of 14.83 and a beta of 1.20. The stock’s 50 day moving average price is $295.39 and its 200-day moving average price is $382.12. Gartner, Inc. has a one year low of $223.65 and a one year high of $584.01. The company has a debt-to-equity ratio of 1.61, a quick ratio of 1.11 and a current ratio of 1.11.

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

Gartner 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.