State of Alaska Department of Revenue Has $6.19 Million Stock Holdings in Gartner, Inc. $IT

State of Alaska Department of Revenue lifted its position in shares of Gartner, Inc. (NYSE:IT) by 48.0% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 23,552 shares of the information technology services provider’s stock after buying an additional 7,642 shares during the quarter. State of Alaska Department of Revenue’s holdings in Gartner were worth $6,190,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Addison Advisors LLC bought a new stake in Gartner during the 2nd quarter worth approximately $27,000. True Wealth Design LLC lifted its holdings in shares of Gartner by 1,130.8% during the third quarter. True Wealth Design LLC now owns 160 shares of the information technology services provider’s stock worth $42,000 after purchasing an additional 147 shares during the period. Chilton Capital Management LLC acquired a new position in shares of Gartner during the second quarter worth $47,000. Osterweis Capital Management Inc. bought a new stake in shares of Gartner in the second quarter worth $48,000. Finally, Bayforest Capital Ltd increased its holdings in Gartner by 527.3% in the first quarter. Bayforest Capital Ltd now owns 138 shares of the information technology services provider’s stock valued at $58,000 after purchasing an additional 116 shares during the period. Institutional investors own 91.51% of the company’s stock.

Gartner Trading Up 0.4%

NYSE IT opened at $247.89 on Friday. The stock has a market capitalization of $17.87 billion, a P/E ratio of 21.75 and a beta of 1.07. The business has a 50 day simple moving average of $237.90 and a 200 day simple moving average of $269.41. 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 $222.54 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. The firm had revenue of $1.52 billion for the quarter, compared to analysts’ expectations of $1.52 billion. Gartner had a return on equity of 92.12% and a net margin of 13.71%.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.

Insider Buying and Selling

In related news, Director Stephen G. Pagliuca purchased 43,300 shares of Gartner stock in a transaction on Wednesday, December 10th. The stock was acquired at an average cost of $229.57 per share, for a total transaction of $9,940,381.00. Following the completion of the acquisition, the director owned 111,613 shares of the company’s stock, valued at $25,622,996.41. This trade represents a 63.38% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP John J. Rinello sold 220 shares of Gartner stock in a transaction on Wednesday, December 3rd. The shares were sold at an average price of $229.57, for a total transaction of $50,505.40. Following the completion of the sale, the senior vice president directly owned 3,046 shares of the company’s stock, valued at approximately $699,270.22. This trade represents a 6.74% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 2.30% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have commented on IT shares. The Goldman Sachs Group cut their target price on Gartner from $457.00 to $390.00 and set a “buy” rating on the stock in a report on Wednesday, November 5th. Truist Financial set a $300.00 price objective on Gartner in a research note on Wednesday, November 26th. UBS Group upped their target price on Gartner from $256.00 to $270.00 and gave the company a “neutral” rating in a report on Friday. BMO Capital Markets lowered their price target 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. Finally, Morgan Stanley dropped their price target on shares of Gartner from $281.00 to $275.00 and set an “equal weight” rating on the stock in a research report on Wednesday, December 17th. Four investment analysts have rated the stock with a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $309.67.

Gartner Company 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.