Laurus Global Equity Management Inc. Acquires New Shares in Gartner, Inc. $IT

Laurus Global Equity Management Inc. bought a new position in shares of Gartner, Inc. (NYSE:IT) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 14,580 shares of the information technology services provider’s stock, valued at approximately $3,833,000. Gartner makes up about 2.6% of Laurus Global Equity Management Inc.’s portfolio, making the stock its 11th biggest position.

A number of other hedge funds also recently made changes to their positions in IT. Brighton Jones LLC bought a new position in Gartner in the 4th quarter valued at approximately $309,000. Sivia Capital Partners LLC bought a new stake in Gartner during the 2nd quarter worth $336,000. Patton Fund Management Inc. acquired a new position in Gartner in the 2nd quarter worth about $214,000. GC Wealth Management RIA LLC bought a new position in Gartner in the second quarter valued at about $327,000. Finally, Janney Montgomery Scott LLC boosted its stake in shares of Gartner by 2.3% during the second quarter. Janney Montgomery Scott LLC now owns 9,717 shares of the information technology services provider’s stock valued at $3,928,000 after purchasing an additional 217 shares in the last quarter. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, SVP John J. Rinello sold 220 shares of the stock in a transaction dated Wednesday, December 3rd. The shares were sold at an average price of $229.57, for a total transaction of $50,505.40. Following the transaction, the senior vice president owned 3,046 shares of the company’s stock, valued at $699,270.22. This represents a 6.74% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Stephen G. Pagliuca bought 43,300 shares of the firm’s stock in a transaction that occurred on Wednesday, December 10th. The stock was purchased at an average cost of $229.57 per share, with a total value of $9,940,381.00. Following the completion of the transaction, the director directly owned 111,613 shares in the company, valued at $25,622,996.41. This represents a 63.38% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Company insiders own 3.60% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on IT. BMO Capital Markets dropped their price objective on shares of Gartner from $272.00 to $254.00 and set a “market perform” rating for the company in a report on Wednesday, November 5th. UBS Group lifted their price target on shares of Gartner from $256.00 to $270.00 and gave the stock a “neutral” rating in a report on Friday, January 9th. Weiss Ratings restated a “sell (d+)” rating on shares of Gartner in a report on Thursday, January 22nd. Wells Fargo & Company cut their target price on Gartner from $231.00 to $218.00 and set an “underweight” rating on the stock in a report on Wednesday, November 5th. Finally, Barclays reduced their price target on Gartner from $270.00 to $260.00 and set an “equal weight” 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 issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $309.67.

Gartner Trading Down 2.6%

NYSE IT opened at $225.88 on Thursday. The stock has a market capitalization of $16.28 billion, a P/E ratio of 19.81 and a beta of 1.07. The business has a 50 day simple moving average of $238.50 and a 200 day simple moving average of $254.43. 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, Inc. has a one year low of $221.16 and a one year 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 return on equity of 92.12% and a net margin of 13.71%.The firm had revenue of $1.52 billion for the quarter, compared to analysts’ expectations 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 year.

About Gartner

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.