Gartner, Inc. $IT Stake Lowered by Douglas Lane & Associates LLC

Douglas Lane & Associates LLC reduced its position in Gartner, Inc. (NYSE:IT) by 16.3% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 156,262 shares of the information technology services provider’s stock after selling 30,482 shares during the period. Douglas Lane & Associates LLC’s holdings in Gartner were worth $29,149,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in IT. Oppenheimer Asset Management Inc. purchased a new position in Gartner during the 2nd quarter worth $2,872,000. Wedge Capital Management L L P NC raised its stake in Gartner by 34.1% in the second quarter. Wedge Capital Management L L P NC now owns 54,196 shares of the information technology services provider’s stock valued at $7,025,000 after buying an additional 13,776 shares during the last quarter. Bank of America Corp DE raised its stake in Gartner by 60.1% in the first quarter. Bank of America Corp DE now owns 773,771 shares of the information technology services provider’s stock valued at $122,519,000 after buying an additional 290,499 shares during the last quarter. Corient Private Wealth LP acquired a new stake in Gartner in the second quarter worth about $1,600,000. Finally, Ancora Advisors LLC acquired a new stake in Gartner in the second quarter worth about $1,122,000. 91.51% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on IT shares. The Goldman Sachs Group upped their price objective on shares of Gartner from $162.00 to $181.00 and gave the company a “neutral” rating in a report on Wednesday, August 5th. Wells Fargo & Company boosted their target price on shares of Gartner from $120.00 to $150.00 and gave the stock an “underweight” rating in a research report on Wednesday, August 5th. Weiss Ratings upgraded shares of Gartner from a “sell (d)” rating to a “sell (d+)” rating in a research note on Thursday, August 13th. Morgan Stanley lifted their price objective on shares of Gartner from $177.00 to $182.00 and gave the stock an “equal weight” rating in a research note on Thursday. Finally, UBS Group upped their target price on Gartner from $196.00 to $208.00 and gave the company a “neutral” rating in a research report on Monday. Two research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $189.00.

Insider Buying and Selling at Gartner

In other news, Director Anne Fuchs sold 860 shares of the business’s stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $184.30, for a total value of $158,498.00. Following the completion of the transaction, the director owned 8,097 shares of the company’s stock, valued at $1,492,277.10. The trade was a 9.60% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Robin B. Kranich sold 3,278 shares of the firm’s stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $196.50, for a total value of $644,127.00. Following the sale, the executive vice president directly owned 20,358 shares in the company, valued at approximately $4,000,347. This trade represents a 13.87% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 6,043 shares of company stock valued at $1,172,858 in the last three months. Company insiders own 2.60% of the company’s stock.

Gartner Stock Performance

NYSE:IT traded down $3.94 during midday trading on Friday, hitting $191.47. The company’s stock had a trading volume of 245,390 shares, compared to its average volume of 1,475,300. Gartner, Inc. has a fifty-two week low of $124.25 and a fifty-two week high of $261.10. The firm’s 50 day moving average is $185.83 and its 200-day moving average is $161.67. The company has a debt-to-equity ratio of 46.98, a current ratio of 0.88 and a quick ratio of 0.88. The firm has a market cap of $12.09 billion, a P/E ratio of 17.17, a P/E/G ratio of 0.70 and a beta of 0.98.

Gartner (NYSE:IT) last announced its quarterly earnings data on Tuesday, August 4th. The information technology services provider reported $4.37 EPS for the quarter, beating the consensus estimate of $3.76 by $0.61. The business had revenue of $1.68 billion during the quarter, compared to analysts’ expectations of $1.65 billion. Gartner had a net margin of 11.99% and a return on equity of 525.46%. The business’s quarterly revenue was down .6% compared to the same quarter last year. During the same period in the previous year, the business posted $3.53 EPS. Gartner has set its FY 2026 guidance at 14.000- EPS. Equities analysts anticipate that Gartner, Inc. will post 14.39 earnings per share for the current fiscal year.

About Gartner

Gartner, Inc is a global research and advisory firm that provides business leaders with insights, analysis and guidance on technology, digital transformation and related business strategies. The company serves organizations across industries, including corporations, government agencies and technology providers.

Gartner’s offerings include subscription-based research, consulting services, benchmarking and measurement tools, executive programs, and conferences and other events. Its research covers areas such as information technology, cybersecurity, cloud computing, artificial intelligence, data and analytics, human resources, finance, supply chains and customer experience.

Founded in 1979 by Gideon Gartner, the company has expanded its operations internationally and serves clients across North America, Europe, Asia-Pacific, Latin America, the Middle East and Africa.