Robertson Stephens Wealth Management LLC Reduces Stock Position in Gartner, Inc. $IT

Robertson Stephens Wealth Management LLC cut its stake in Gartner, Inc. (NYSE:IT) by 2.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,627 shares of the information technology services provider’s stock after selling 77 shares during the period. Robertson Stephens Wealth Management LLC’s holdings in Gartner were worth $1,062,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Ransom Advisory Ltd purchased a new position in Gartner in the first quarter valued at about $29,000. Olde Wealth Management LLC acquired a new stake in shares of Gartner in the first quarter valued at approximately $42,000. GW&K Investment Management LLC grew its position in shares of Gartner by 210.8% in 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. Wayfinding Financial LLC acquired a new stake in shares of Gartner in the first quarter valued at approximately $55,000. 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 during the last quarter. 91.51% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Wells Fargo & Company lowered their price target on shares of Gartner from $345.00 to $225.00 and set an “underweight” rating on the stock in a research report on Wednesday, August 6th. Morgan Stanley lowered their price target on shares of Gartner from $455.00 to $322.00 and set an “equal weight” rating on the stock in a research report on Wednesday, August 6th. UBS Group increased their price target on shares of Gartner from $270.00 to $280.00 and gave the company a “neutral” rating in a research report on Monday. Royal Bank Of Canada assumed coverage on shares of Gartner in a research report on Tuesday, September 9th. They issued a “sector perform” rating and a $263.00 price target on the stock. Finally, Wolfe Research started coverage on shares of Gartner in a research report on Wednesday, September 3rd. They issued a “peer perform” rating on the stock. Three research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $358.56.

Insiders Place Their Bets

In related news, Director Jose M. Gutierrez purchased 417 shares of the firm’s stock in a transaction on Monday, August 18th. The shares were bought at an average price of $239.80 per share, for a total transaction of $99,996.60. Following the acquisition, the director directly owned 2,080 shares in the company, valued at $498,784. This trade represents a 25.08% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, SVP John J. Rinello sold 105 shares of Gartner 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 completion of the transaction, the senior vice president owned 3,225 shares in the company, valued at approximately $805,314.75. This trade represents a 3.15% decrease in their position. The disclosure for this sale can be found here. 2.30% of the stock is owned by company insiders.

Gartner Stock Down 2.0%

Shares of NYSE IT opened at $239.66 on Friday. Gartner, Inc. has a 1 year low of $223.65 and a 1 year high of $584.01. The firm’s 50 day moving average price is $248.97 and its 200 day moving average price is $351.47. The firm has a market cap of $18.15 billion, a P/E ratio of 14.75 and a beta of 1.20. 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 announced its earnings results on Tuesday, August 5th. The information technology services provider reported $3.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.38 by $0.15. Gartner had a net margin of 19.71% and a return on equity of 82.63%. The firm had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.68 billion. During the same quarter last year, the business earned $3.22 earnings per share. Gartner’s revenue was up 5.7% compared to the same quarter last year. Gartner has set its FY 2025 guidance at 11.750- EPS. As a group, sell-side analysts anticipate that Gartner, Inc. will post 12.5 earnings per share for the current year.

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.