MML Investors Services LLC Purchases 65 Shares of Gartner, Inc. (NYSE:IT)

Posted by on Mar 2nd, 2023

MML Investors Services LLC raised its position in Gartner, Inc. (NYSE:IT – Get Rating) by 1.4% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,769 shares of the information technology services provider’s stock after purchasing an additional 65 shares during the period. MML Investors Services LLC’s holdings in Gartner were worth $1,320,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in IT. Altshuler Shaham Ltd bought a new stake in shares of Gartner during the third quarter worth $31,000. SeaCrest Wealth Management LLC bought a new stake in shares of Gartner during the second quarter worth $37,000. Private Trust Co. NA acquired a new position in Gartner during the second quarter worth $39,000. Carolinas Wealth Consulting LLC acquired a new position in Gartner during the first quarter worth $39,000. Finally, CoreCap Advisors LLC acquired a new position in Gartner during the second quarter worth $43,000. Institutional investors own 91.86% of the company’s stock.

Gartner Stock Performance

NYSE IT opened at $325.42 on Thursday. The firm has a 50-day moving average of $336.84 and a 200-day moving average of $320.59. The company has a debt-to-equity ratio of 10.77, a quick ratio of 0.77 and a current ratio of 0.77. The stock has a market cap of $25.73 billion, a PE ratio of 32.57, a P/E/G ratio of 5.33 and a beta of 1.32. Gartner, Inc. has a 52-week low of $221.39 and a 52-week high of $358.25.

Gartner (NYSE:IT – Get Rating) last posted its earnings results on Tuesday, February 7th. The information technology services provider reported $3.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.57 by $1.13. The company had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.45 billion. Gartner had a net margin of 14.75% and a return on equity of 2,645.96%. Gartner’s quarterly revenue was up 15.2% compared to the same quarter last year. During the same quarter last year, the company posted $2.99 EPS. On average, sell-side analysts anticipate that Gartner, Inc. will post 9.49 EPS for the current year.

Insider Transactions at Gartner

In related news, CEO Eugene A. Hall sold 5,604 shares of the firm’s stock in a transaction dated Thursday, February 16th. The shares were sold at an average price of $350.83, for a total transaction of $1,966,051.32. Following the transaction, the chief executive officer now directly owns 1,145,665 shares of the company’s stock, valued at $401,933,651.95. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, EVP Scott Hensel sold 3,007 shares of the firm’s stock in a transaction dated Thursday, February 9th. The shares were sold at an average price of $355.00, for a total transaction of $1,067,485.00. Following the transaction, the executive vice president now directly owns 12,885 shares of the company’s stock, valued at $4,574,175. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Eugene A. Hall sold 5,604 shares of the firm’s stock in a transaction dated Thursday, February 16th. The stock was sold at an average price of $350.83, for a total transaction of $1,966,051.32. Following the transaction, the chief executive officer now directly owns 1,145,665 shares in the company, valued at $401,933,651.95. The disclosure for this sale can be found here. In the last 90 days, insiders sold 38,569 shares of company stock worth $13,538,660. 3.70% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. BMO Capital Markets increased their target price on shares of Gartner from $356.00 to $357.00 and gave the stock a “market perform” rating in a report on Thursday, February 9th. StockNews.com upgraded shares of Gartner from a “hold” rating to a “buy” rating in a report on Saturday, January 21st. Wells Fargo & Company increased their target price on shares of Gartner from $370.00 to $387.00 and gave the stock an “overweight” rating in a report on Wednesday, February 8th. The Goldman Sachs Group increased their target price on shares of Gartner from $348.00 to $391.00 and gave the stock a “buy” rating in a report on Wednesday, November 2nd. Finally, Barclays increased their price target on shares of Gartner from $330.00 to $350.00 and gave the company an “equal weight” rating in a research note on Friday, December 2nd. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $359.00.

About Gartner

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Gartner, Inc is a research and advisory company, which equips business leaders with insights, advice, and tools that help build organizations. It operates through the following segments: Research, Consulting, and Conferences. The Research segment provides executives with objective insights and advice through reports, briefings, proprietary tools, access to the firm’s research experts, peer networking services, and membership programs.

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Institutional Ownership by Quarter for Gartner (NYSE:IT)

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