Forum Financial Management LP Sells 60 Shares of Gartner, Inc. $IT

Forum Financial Management LP reduced its position in shares of Gartner, Inc. (NYSE:IT) by 6.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 814 shares of the information technology services provider’s stock after selling 60 shares during the period. Forum Financial Management LP’s holdings in Gartner were worth $329,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in IT. Ransom Advisory Ltd bought a new stake in shares of Gartner during the first quarter worth about $29,000. Olde Wealth Management LLC bought a new stake in shares of Gartner during the first quarter worth about $42,000. GW&K Investment Management LLC boosted its holdings in 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 acquiring an additional 78 shares during the last quarter. Wayfinding Financial LLC bought a new stake in Gartner in the first quarter valued at approximately $55,000. Finally, Bayforest Capital Ltd boosted its holdings in 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 acquiring an additional 116 shares during the last quarter. 91.51% of the stock is currently owned by institutional investors.

Gartner Price Performance

Gartner stock opened at $250.40 on Monday. The stock has a market capitalization of $18.97 billion, a price-to-earnings ratio of 15.41 and a beta of 1.20. Gartner, Inc. has a 52-week low of $223.65 and a 52-week high of $584.01. The stock’s 50 day moving average price is $248.73 and its two-hundred day moving average price is $339.59. 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 posted its quarterly 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 return on equity of 82.63% and a net margin of 19.71%.The firm had revenue of $1.66 billion for the quarter, compared to analysts’ expectations of $1.68 billion. During the same period in the prior year, the business earned $3.22 EPS. The company’s revenue for the quarter was up 5.7% compared to the same quarter last year. Gartner has set its FY 2025 guidance at 11.750- EPS. On average, equities analysts predict that Gartner, Inc. will post 12.5 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Jose M. Gutierrez bought 417 shares of the stock in a transaction dated Monday, August 18th. The shares were bought at an average cost of $239.80 per share, with a total value of $99,996.60. Following the completion of the transaction, the director directly owned 2,080 shares of the company’s stock, valued at $498,784. This trade represents a 25.08% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through 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 stock was 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 $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. 3.60% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts recently commented on IT shares. BMO Capital Markets reduced their target price on Gartner from $409.00 to $272.00 and set a “market perform” rating on the stock in a report on Wednesday, August 6th. The Goldman Sachs Group reduced their target price on Gartner from $535.00 to $457.00 and set a “buy” rating on the stock in a report on Wednesday, August 6th. Truist Financial started coverage on Gartner in a report on Thursday, October 16th. They issued a “buy” rating and a $300.00 target price on the stock. UBS Group upped their target price on Gartner from $270.00 to $280.00 and gave the company a “neutral” rating in a report on Monday, October 6th. Finally, Morgan Stanley set a $307.00 target price on Gartner in a report on Monday, October 13th. Four equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $346.20.

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.