PNC Financial Services Group Inc. Has $6.64 Million Stock Holdings in Gartner, Inc. $IT

PNC Financial Services Group Inc. reduced its stake in Gartner, Inc. (NYSE:ITFree Report) by 22.6% in the 3rd quarter, HoldingsChannel reports. The firm owned 25,270 shares of the information technology services provider’s stock after selling 7,378 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Gartner were worth $6,643,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Allianz Asset Management GmbH lifted its position in shares of Gartner by 28.9% during the third quarter. Allianz Asset Management GmbH now owns 122,662 shares of the information technology services provider’s stock valued at $32,244,000 after purchasing an additional 27,497 shares in the last quarter. Madison Asset Management LLC increased its stake in Gartner by 1.8% in the 3rd quarter. Madison Asset Management LLC now owns 715,811 shares of the information technology services provider’s stock valued at $188,165,000 after buying an additional 12,998 shares during the last quarter. Aviva PLC lifted its position in shares of Gartner by 6.1% during the 2nd quarter. Aviva PLC now owns 58,559 shares of the information technology services provider’s stock worth $23,671,000 after buying an additional 3,390 shares in the last quarter. Buttonwood Financial Advisors Inc. purchased a new position in shares of Gartner in the 3rd quarter worth approximately $1,581,000. Finally, Highland Capital Management LLC bought a new position in shares of Gartner in the third quarter valued at approximately $1,502,000. Institutional investors own 91.51% of the company’s stock.

Gartner Trading Down 2.7%

Shares of Gartner stock opened at $156.97 on Friday. The stock has a market capitalization of $11.31 billion, a P/E ratio of 16.27, a P/E/G ratio of 1.62 and a beta of 1.06. Gartner, Inc. has a 52-week low of $139.18 and a 52-week high of $513.42. The company has a debt-to-equity ratio of 9.30, a quick ratio of 1.00 and a current ratio of 1.00. The stock’s 50-day simple moving average is $218.19 and its 200 day simple moving average is $234.39.

Gartner (NYSE:ITGet Free Report) last issued its earnings results on Tuesday, February 3rd. The information technology services provider reported $3.94 earnings per share for the quarter, topping analysts’ consensus estimates of $3.50 by $0.44. The firm had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.75 billion. Gartner had a net margin of 11.22% and a return on equity of 102.20%. The company’s quarterly revenue was up 2.2% on a year-over-year basis. During the same quarter last year, the business earned $5.45 earnings per share. Gartner has set its FY 2026 guidance at 12.300- EPS. As a group, research analysts anticipate that Gartner, Inc. will post 12.5 EPS for the current year.

Analyst Upgrades and Downgrades

IT has been the topic of a number of recent analyst reports. Truist Financial dropped their price target on Gartner from $300.00 to $170.00 and set a “buy” rating on the stock in a report on Friday, February 6th. Barclays cut their price target on shares of Gartner from $260.00 to $180.00 and set an “equal weight” rating on the stock in a report on Thursday, February 5th. Deutsche Bank Aktiengesellschaft set a $204.00 price target on shares of Gartner in a research report on Wednesday, February 4th. Wells Fargo & Company lowered their price objective on shares of Gartner from $218.00 to $150.00 and set an “underweight” rating on the stock in a research report on Wednesday, February 4th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Gartner in a research report on Thursday, January 22nd. Four investment analysts have rated the stock with a Buy rating, six have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $190.70.

View Our Latest Research Report on Gartner

Insider Buying and Selling

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

Key Stories Impacting Gartner

Here are the key news stories impacting Gartner this week:

Gartner Company Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding IT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Gartner, Inc. (NYSE:ITFree Report).

Institutional Ownership by Quarter for Gartner (NYSE:IT)

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