Bank of New York Mellon Corp Sells 17,552 Shares of Gartner, Inc. $IT

Bank of New York Mellon Corp reduced its stake in Gartner, Inc. (NYSE:IT) by 3.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 463,110 shares of the information technology services provider’s stock after selling 17,552 shares during the period. Bank of New York Mellon Corp owned 0.60% of Gartner worth $187,198,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Ransom Advisory Ltd bought a new position in shares of Gartner during the first quarter valued at approximately $29,000. Chilton Capital Management LLC bought a new position in shares of Gartner during the second quarter valued at approximately $47,000. GW&K Investment Management LLC boosted its stake in shares of Gartner by 210.8% during the first quarter. GW&K Investment Management LLC now owns 115 shares of the information technology services provider’s stock valued at $48,000 after purchasing an additional 78 shares in the last quarter. Bayforest Capital Ltd boosted its stake in shares of Gartner by 527.3% during 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 in the last quarter. Finally, WPG Advisers LLC bought a new position in shares of Gartner during the first quarter valued at approximately $69,000. 91.51% of the stock is currently owned by institutional investors.

Gartner Trading Up 4.4%

NYSE IT opened at $237.14 on Thursday. The company has a fifty day simple moving average of $249.01 and a two-hundred day simple moving average of $330.84. The stock has a market cap of $17.96 billion, a P/E ratio of 14.59 and a beta of 1.19. Gartner, Inc. has a 12-month low of $223.23 and a 12-month high of $584.01. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 1.61.

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 business had revenue of $1.52 billion during the quarter, compared to analysts’ expectations of $1.52 billion. Gartner had a net margin of 19.71% and a return on equity of 82.63%. Gartner has set its FY 2025 guidance at 12.650- EPS. On average, analysts forecast that Gartner, Inc. will post 12.5 earnings per share for the current year.

Insiders Place Their Bets

In related news, SVP John J. Rinello sold 105 shares of the firm’s stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $249.71, for a total transaction of $26,219.55. Following the completion of the transaction, the senior vice president owned 3,225 shares of the company’s stock, valued at $805,314.75. This trade represents a 3.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Jose M. Gutierrez bought 417 shares of Gartner stock in a transaction that occurred on Monday, August 18th. The shares were acquired at an average cost of $239.80 per share, with a total value of $99,996.60. Following the acquisition, the director owned 2,080 shares of the company’s stock, valued at $498,784. The trade was a 25.08% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Company insiders own 3.60% of the company’s stock.

Wall Street Analysts Forecast Growth

IT has been the topic of a number of recent research reports. Royal Bank Of Canada initiated coverage on shares of Gartner in a research note on Tuesday, September 9th. They set a “sector perform” rating and a $263.00 price objective on the stock. Truist Financial started coverage on shares of Gartner in a research note on Thursday, October 16th. They set a “buy” rating and a $300.00 price objective on the stock. BMO Capital Markets restated a “market perform” rating and issued a $254.00 target price on shares of Gartner in a research note on Wednesday. The Goldman Sachs Group lowered their target price on shares of Gartner from $457.00 to $390.00 and set a “buy” rating for the company in a research note on Wednesday. Finally, Weiss Ratings downgraded shares of Gartner from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Saturday, October 25th. Four equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $311.67.

Gartner Company Profile

Gartner, Inc operates as a research and advisory company in the United States, Canada, Europe, the Middle East, Africa, and internationally. It operates through three segments: Research, Conferences, and Consulting. The Research segment delivers its research primarily through a subscription service that include on-demand access to published research content, data and benchmarks, and direct access to a network of research experts.