Rakuten Investment Management Inc. Purchases Shares of 24,716 Gartner, Inc. $IT

Rakuten Investment Management Inc. acquired a new stake in shares of Gartner, Inc. (NYSE:IT) during the 3rd quarter, Holdings Channel reports. The firm acquired 24,716 shares of the information technology services provider’s stock, valued at approximately $6,497,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in IT. Brighton Jones LLC acquired a new position in Gartner during the 4th quarter worth approximately $309,000. Sivia Capital Partners LLC acquired a new stake in Gartner in the second quarter valued at approximately $336,000. Sowell Financial Services LLC increased its holdings in shares of Gartner by 2.6% during the second quarter. Sowell Financial Services LLC now owns 1,891 shares of the information technology services provider’s stock valued at $764,000 after acquiring an additional 48 shares in the last quarter. Fifth Third Bancorp raised its position in shares of Gartner by 11.7% during the second quarter. Fifth Third Bancorp now owns 2,941 shares of the information technology services provider’s stock worth $1,189,000 after purchasing an additional 308 shares during the period. Finally, Accurate Wealth Management LLC lifted its holdings in shares of Gartner by 2.8% in the 2nd quarter. Accurate Wealth Management LLC now owns 1,308 shares of the information technology services provider’s stock worth $507,000 after purchasing an additional 36 shares in the last quarter. Institutional investors own 91.51% of the company’s stock.

Gartner Stock Up 1.9%

IT opened at $236.93 on Friday. Gartner, Inc. has a fifty-two week low of $221.16 and a fifty-two week high of $584.01. The firm has a market capitalization of $17.08 billion, a P/E ratio of 20.78 and a beta of 1.07. The company’s 50-day moving average is $238.18 and its 200 day moving average is $259.79. The company has a debt-to-equity ratio of 4.42, a current ratio of 0.88 and a quick ratio of 0.88.

Gartner (NYSE:IT) last posted its quarterly earnings data on Tuesday, November 4th. The information technology services provider reported $2.76 EPS for the quarter, beating the consensus estimate of $2.41 by $0.35. Gartner had a net margin of 13.71% and a return on equity of 92.12%. The firm 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. Research analysts expect that Gartner, Inc. will post 12.5 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have commented on IT. Morgan Stanley decreased their price target on shares of Gartner from $281.00 to $275.00 and set an “equal weight” rating for the company in a research note on Wednesday, December 17th. William Blair reissued an “outperform” rating on shares of Gartner in a research report on Tuesday, October 21st. UBS Group raised their price target on shares of Gartner from $256.00 to $270.00 and gave the company a “neutral” rating in a research report on Friday, January 9th. Wells Fargo & Company cut their price target on Gartner from $231.00 to $218.00 and set an “underweight” rating for the company in a research note on Wednesday, November 5th. Finally, BMO Capital Markets decreased their price objective on Gartner from $272.00 to $254.00 and set a “market perform” rating for the company in a report on Wednesday, November 5th. Four equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $309.67.

Insider Buying and Selling

In related news, Director Stephen G. Pagliuca purchased 43,300 shares of the business’s stock in a transaction that occurred on Wednesday, December 10th. The shares were bought at an average cost of $229.57 per share, with a total value of $9,940,381.00. Following the acquisition, the director owned 111,613 shares of the company’s stock, valued at $25,622,996.41. This represents a 63.38% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Claire Herkes sold 367 shares of the stock in a transaction dated Wednesday, December 3rd. The shares were sold at an average price of $231.56, for a total transaction of $84,982.52. Following the transaction, the executive vice president owned 4,074 shares of the company’s stock, valued at approximately $943,375.44. The trade was a 8.26% decrease in their position. The SEC filing for this sale provides additional information. 2.30% of the stock is currently owned by corporate insiders.

Gartner Company Profile

Gartner, Inc is a global research and advisory firm that provides insights, advice and tools for leaders in IT, finance, HR, customer service and other business functions. Founded in 1979 and headquartered in Stamford, Connecticut, Gartner specializes in helping organizations make informed decisions about technology, operations and strategy through a combination of published research, advisory services, consulting, executive programs and events.

The company’s offerings include proprietary research reports, market forecasts, and analytical frameworks that are widely used by technology buyers and vendors.