Pallas Capital Advisors LLC Buys New Stake in Gartner, Inc. $IT

Pallas Capital Advisors LLC purchased a new position in Gartner, Inc. (NYSE:IT) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 6,749 shares of the information technology services provider’s stock, valued at approximately $875,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in IT. J. Stern & Co. LLP grew its stake in shares of Gartner by 8,182.0% during the fourth quarter. J. Stern & Co. LLP now owns 1,536,890 shares of the information technology services provider’s stock worth $387,727,000 after acquiring an additional 1,518,333 shares during the last quarter. Norges Bank purchased a new stake in Gartner during the 4th quarter worth approximately $299,576,000. Northwestern Mutual Wealth Management Co. grew its position in Gartner by 108,812.1% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,025,952 shares of the information technology services provider’s stock worth $258,827,000 after purchasing an additional 1,025,010 shares during the last quarter. Capital International Investors increased its stake in Gartner by 28.3% during the 4th quarter. Capital International Investors now owns 4,004,093 shares of the information technology services provider’s stock valued at $1,010,153,000 after purchasing an additional 884,250 shares in the last quarter. Finally, AQR Capital Management LLC increased its stake in Gartner by 51.9% during the 4th quarter. AQR Capital Management LLC now owns 1,892,004 shares of the information technology services provider’s stock valued at $477,315,000 after purchasing an additional 646,052 shares in the last quarter. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Morgan Stanley set a $177.00 price objective on shares of Gartner in a research note on Wednesday, August 5th. Royal Bank Of Canada upped their target price on Gartner from $160.00 to $164.00 and gave the company a “sector perform” rating in a research report on Wednesday, August 5th. BMO Capital Markets lowered their price target on Gartner from $214.00 to $206.00 and set a “market perform” rating for the company in a research report on Tuesday. Truist Financial set a $205.00 price target on Gartner in a research note on Wednesday, August 5th. Finally, Zacks Research raised Gartner from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $187.30.

Insider Transactions at Gartner

In other Gartner news, EVP Yvonne Genovese sold 1,205 shares of Gartner stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $190.06, for a total transaction of $229,022.30. Following the completion of the transaction, the executive vice president owned 6,208 shares in the company, valued at approximately $1,179,892.48. This trade represents a 16.26% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Anne Sutherland Fuchs sold 860 shares of the business’s stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $184.30, for a total value of $158,498.00. Following the completion of the transaction, the director directly owned 8,097 shares of the company’s stock, valued at approximately $1,492,277.10. This trade represents a 9.60% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 2.60% of the company’s stock.

Gartner Stock Up 1.9%

IT stock opened at $182.64 on Wednesday. The company has a market capitalization of $11.53 billion, a P/E ratio of 16.38, a price-to-earnings-growth ratio of 0.60 and a beta of 0.94. Gartner, Inc. has a 12 month low of $124.25 and a 12 month high of $265.85. The firm’s fifty day simple moving average is $148.94 and its 200-day simple moving average is $155.12. The company has a debt-to-equity ratio of 46.98, a current ratio of 0.88 and a quick ratio of 0.88.

Gartner (NYSE:IT) last issued its earnings results on Tuesday, August 4th. The information technology services provider reported $4.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.76 by $0.61. Gartner had a net margin of 11.99% and a return on equity of 525.46%. The firm had revenue of $1.68 billion during the quarter, compared to analysts’ expectations of $1.65 billion. During the same quarter last year, the company posted $3.53 earnings per share. The firm’s revenue was down .6% compared to the same quarter last year. Gartner has set its FY 2026 guidance at 14.000- EPS. As a group, equities research analysts forecast that Gartner, Inc. will post 14.44 earnings per share for the current year.

Gartner 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.