Ronald Blue Trust Inc. Purchases 82 Shares of Gartner, Inc. (NYSE:IT)

Posted by on Jul 1st, 2023

Ronald Blue Trust Inc. increased its position in shares of Gartner, Inc. (NYSE:IT – Free Report) by 14.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 635 shares of the information technology services provider’s stock after acquiring an additional 82 shares during the quarter. Ronald Blue Trust Inc.’s holdings in Gartner were worth $213,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. First Trust Advisors LP raised its stake in shares of Gartner by 6.9% during the 4th quarter. First Trust Advisors LP now owns 85,486 shares of the information technology services provider’s stock worth $28,739,000 after acquiring an additional 5,505 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Gartner by 2.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 482,674 shares of the information technology services provider’s stock worth $162,246,000 after purchasing an additional 10,441 shares during the last quarter. Wedbush Securities Inc. purchased a new stake in Gartner during the 4th quarter worth approximately $228,000. Cibc World Markets Corp grew its position in Gartner by 108.7% during the 4th quarter. Cibc World Markets Corp now owns 12,926 shares of the information technology services provider’s stock worth $4,345,000 after purchasing an additional 6,732 shares during the last quarter. Finally, Oppenheimer & Co. Inc. grew its position in Gartner by 76.0% during the 4th quarter. Oppenheimer & Co. Inc. now owns 1,297 shares of the information technology services provider’s stock worth $436,000 after purchasing an additional 560 shares during the last quarter. Institutional investors own 92.41% of the company’s stock.

Gartner Stock Performance

Shares of NYSE IT opened at $350.31 on Friday. The company’s fifty day moving average price is $328.75 and its 200 day moving average price is $329.59. Gartner, Inc. has a 1 year low of $231.05 and a 1 year high of $363.12. The company has a market capitalization of $27.69 billion, a PE ratio of 30.23, a price-to-earnings-growth ratio of 4.47 and a beta of 1.27. The company has a debt-to-equity ratio of 5.19, a quick ratio of 0.84 and a current ratio of 0.84.

Gartner (NYSE:IT – Free Report) last announced its quarterly earnings results on Tuesday, May 2nd. The information technology services provider reported $2.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.04 by $0.84. Gartner had a net margin of 16.56% and a return on equity of 772.55%. The firm had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.37 billion. During the same period in the prior year, the firm posted $2.33 earnings per share. The firm’s quarterly revenue was up 11.6% compared to the same quarter last year. On average, research analysts predict that Gartner, Inc. will post 10.05 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. BMO Capital Markets dropped their target price on shares of Gartner from $357.00 to $337.00 and set a “market perform” rating on the stock in a research report on Friday, April 21st. Wells Fargo & Company dropped their target price on shares of Gartner from $387.00 to $380.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 19th. UBS Group initiated coverage on shares of Gartner in a report on Wednesday, May 31st. They issued a “neutral” rating and a $368.00 price objective on the stock. Finally, StockNews.com raised shares of Gartner from a “hold” rating to a “buy” rating in a report on Thursday. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $359.13.

Insider Buying and Selling

In other news, EVP Alwyn Dawkins sold 1,000 shares of Gartner stock in a transaction dated Tuesday, May 16th. The shares were sold at an average price of $316.71, for a total value of $316,710.00. Following the sale, the executive vice president now owns 44,915 shares in the company, valued at $14,225,029.65. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, EVP Valentin Sribar sold 420 shares of the business’s stock in a transaction that occurred on Tuesday, June 13th. The stock was sold at an average price of $353.80, for a total transaction of $148,596.00. Following the completion of the sale, the executive vice president now directly owns 11,787 shares in the company, valued at $4,170,240.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Alwyn Dawkins sold 1,000 shares of the firm’s stock in a transaction on Tuesday, May 16th. The shares were sold at an average price of $316.71, for a total value of $316,710.00. Following the completion of the transaction, the executive vice president now owns 44,915 shares in the company, valued at approximately $14,225,029.65. The disclosure for this sale can be found here. Over the last three months, insiders have sold 23,115 shares of company stock valued at $7,815,611. Corporate insiders own 3.90% of the company’s stock.

Gartner Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Gartner (NYSE:IT)

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