Vise Technologies Inc. Acquires New Holdings in Gartner, Inc. $IT

Vise Technologies Inc. acquired a new position in shares of Gartner, Inc. (NYSE:IT) in the second quarter, HoldingsChannel reports. The firm acquired 2,774 shares of the information technology services provider’s stock, valued at approximately $1,121,000.

Several other institutional investors and hedge funds also recently made changes to their positions in IT. Aviva PLC lifted its position in Gartner by 6.1% during the 2nd quarter. Aviva PLC now owns 58,559 shares of the information technology services provider’s stock valued at $23,671,000 after purchasing an additional 3,390 shares during the period. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Gartner by 22.2% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 34,964 shares of the information technology services provider’s stock valued at $13,995,000 after acquiring an additional 6,352 shares during the last quarter. State of Michigan Retirement System lifted its position in shares of Gartner by 10.1% in the 2nd quarter. State of Michigan Retirement System now owns 22,947 shares of the information technology services provider’s stock worth $9,276,000 after purchasing an additional 2,100 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in Gartner by 10.2% during the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 12,433 shares of the information technology services provider’s stock valued at $5,026,000 after purchasing an additional 1,150 shares in the last quarter. Finally, Pallas Capital Advisors LLC lifted its stake in Gartner by 154.4% in the second quarter. Pallas Capital Advisors LLC now owns 3,445 shares of the information technology services provider’s stock valued at $1,393,000 after purchasing an additional 2,091 shares during the last quarter. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Gartner Price Performance

Shares of IT stock traded up $1.88 during midday trading on Thursday, reaching $232.01. 28,753 shares of the company were exchanged, compared to its average volume of 953,650. The company’s 50 day moving average price is $246.99 and its two-hundred day moving average price is $324.62. The company has a market cap of $17.57 billion, a P/E ratio of 14.26 and a beta of 1.19. 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, Inc. has a 12 month low of $222.54 and a 12 month high of $584.01.

Gartner (NYSE:IT) last posted its quarterly earnings results on Tuesday, November 4th. The information technology services provider reported $2.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.41 by $0.35. Gartner had a net margin of 19.71% and a return on equity of 82.63%. The business had revenue of $1.52 billion during the quarter, compared to analyst estimates of $1.52 billion. Gartner has set its FY 2025 guidance at 12.650- EPS. On average, sell-side analysts expect that Gartner, Inc. will post 12.5 earnings per share for the current year.

Insiders Place Their Bets

In other Gartner news, SVP John J. Rinello sold 105 shares of the stock in a transaction dated 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 owned 3,225 shares of the company’s stock, valued at approximately $805,314.75. This represents a 3.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Jose M. Gutierrez purchased 417 shares of the firm’s stock in a transaction on Monday, August 18th. The stock was bought 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 of the company’s stock, valued at approximately $498,784. This represents a 25.08% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders own 2.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on IT. William Blair reissued an “outperform” rating on shares of Gartner in a research report on Tuesday, October 21st. Weiss Ratings lowered Gartner from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Saturday, October 25th. Morgan Stanley set a $307.00 target price on shares of Gartner in a research note on Monday, October 13th. Truist Financial initiated coverage on Gartner in a research note on Thursday, October 16th. They set a “buy” rating and a $300.00 target price for the company. Finally, Wells Fargo & Company lowered their price objective on shares of Gartner from $231.00 to $218.00 and set an “underweight” rating on the stock in a research report on Wednesday, November 5th. Four investment analysts have rated the stock with a Buy rating, six have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $311.67.

About Gartner

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.