Allspring Global Investments Holdings LLC Purchases 34,214 Shares of Gartner, Inc. (NYSE:IT)

Posted by on Oct 4th, 2023

Allspring Global Investments Holdings LLC lifted its position in Gartner, Inc. (NYSE:IT – Free Report) by 465.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,564 shares of the information technology services provider’s stock after acquiring an additional 34,214 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.05% of Gartner worth $14,560,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in Gartner by 1.1% during the first quarter. Vanguard Group Inc. now owns 9,198,161 shares of the information technology services provider’s stock valued at $2,736,085,000 after acquiring an additional 102,709 shares during the last quarter. BlackRock Inc. boosted its stake in shares of Gartner by 2.6% during the first quarter. BlackRock Inc. now owns 6,394,140 shares of the information technology services provider’s stock valued at $2,083,019,000 after purchasing an additional 165,046 shares during the period. FMR LLC boosted its stake in shares of Gartner by 3.3% during the first quarter. FMR LLC now owns 3,593,426 shares of the information technology services provider’s stock valued at $1,170,630,000 after purchasing an additional 113,978 shares during the period. State Street Corp boosted its stake in shares of Gartner by 2.3% during the first quarter. State Street Corp now owns 3,072,139 shares of the information technology services provider’s stock valued at $1,000,811,000 after purchasing an additional 69,116 shares during the period. Finally, Morgan Stanley boosted its stake in shares of Gartner by 271.1% during the fourth quarter. Morgan Stanley now owns 2,151,011 shares of the information technology services provider’s stock valued at $723,041,000 after purchasing an additional 1,571,413 shares during the period. Institutional investors own 90.28% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Robin B. Kranich sold 716 shares of the company’s stock in a transaction on Friday, September 1st. The stock was sold at an average price of $349.78, for a total value of $250,442.48. Following the transaction, the executive vice president now owns 13,230 shares of the company’s stock, valued at approximately $4,627,589.40. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, EVP Robin B. Kranich sold 716 shares of the company’s stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $349.78, for a total transaction of $250,442.48. Following the completion of the transaction, the executive vice president now directly owns 13,230 shares of the company’s stock, valued at approximately $4,627,589.40. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Michael Patrick Diliberto sold 7,938 shares of the company’s stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $335.09, for a total value of $2,659,944.42. Following the transaction, the executive vice president now directly owns 18,501 shares of the company’s stock, valued at $6,199,500.09. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 18,654 shares of company stock valued at $6,431,987. Insiders own 3.90% of the company’s stock.

Gartner Price Performance

Shares of NYSE IT opened at $341.70 on Wednesday. The company has a debt-to-equity ratio of 4.18, a quick ratio of 0.87 and a current ratio of 0.87. The company has a market cap of $26.93 billion, a PE ratio of 29.61, a P/E/G ratio of 4.73 and a beta of 1.23. The business has a 50-day simple moving average of $345.75 and a two-hundred day simple moving average of $335.99. Gartner, Inc. has a fifty-two week low of $277.08 and a fifty-two week high of $377.88.

Gartner (NYSE:IT – Get Free Report) last announced its quarterly earnings results on Tuesday, August 1st. The information technology services provider reported $2.85 earnings per share for the quarter, beating the consensus estimate of $2.51 by $0.34. The company had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.48 billion. Gartner had a return on equity of 310.25% and a net margin of 16.08%. Gartner’s quarterly revenue was up 9.2% on a year-over-year basis. During the same period last year, the business earned $2.85 earnings per share. As a group, equities analysts expect that Gartner, Inc. will post 10.06 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently commented on IT shares. BMO Capital Markets dropped their price target on Gartner from $352.00 to $346.00 in a research note on Thursday, August 3rd. Morgan Stanley raised their price objective on Gartner from $366.00 to $372.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 2nd. Finally, StockNews.com raised Gartner from a “hold” rating to a “buy” rating in a research report on Friday, September 29th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $361.00.

View Our Latest Stock Report on Gartner

Gartner 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.

See Also

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Institutional Ownership by Quarter for Gartner (NYSE:IT)

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