Gartner, Inc. (NYSE:IT) Stock Position Raised by Verition Fund Management LLC

Verition Fund Management LLC lifted its stake in shares of Gartner, Inc. (NYSE:IT) by 2.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,370 shares of the information technology services provider’s stock after acquiring an additional 60 shares during the quarter. Verition Fund Management LLC’s holdings in Gartner were worth $1,201,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Choreo LLC acquired a new stake in shares of Gartner in the second quarter worth $722,000. Victory Capital Management Inc. boosted its position in shares of Gartner by 43.3% in the second quarter. Victory Capital Management Inc. now owns 59,140 shares of the information technology services provider’s stock worth $26,557,000 after buying an additional 17,874 shares during the period. Czech National Bank boosted its position in shares of Gartner by 7.9% in the second quarter. Czech National Bank now owns 14,794 shares of the information technology services provider’s stock worth $6,643,000 after buying an additional 1,079 shares during the period. Federated Hermes Inc. raised its holdings in shares of Gartner by 9.0% during the second quarter. Federated Hermes Inc. now owns 59,393 shares of the information technology services provider’s stock worth $26,671,000 after acquiring an additional 4,887 shares in the last quarter. Finally, Assetmark Inc. raised its holdings in shares of Gartner by 70.0% during the third quarter. Assetmark Inc. now owns 5,144 shares of the information technology services provider’s stock worth $2,607,000 after acquiring an additional 2,118 shares in the last quarter. Institutional investors and hedge funds own 91.51% of the company’s stock.

Insider Transactions at Gartner

In related news, EVP Claire Herkes sold 411 shares of Gartner stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $521.24, for a total transaction of $214,229.64. Following the sale, the executive vice president now directly owns 1,494 shares of the company’s stock, valued at $778,732.56. This trade represents a 21.57 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Akhil Jain sold 500 shares of Gartner stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $492.00, for a total value of $246,000.00. Following the sale, the executive vice president now directly owns 4,339 shares in the company, valued at approximately $2,134,788. This trade represents a 10.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 72,560 shares of company stock worth $37,909,141. Company insiders own 3.60% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on IT shares. Wells Fargo & Company increased their price objective on Gartner from $460.00 to $470.00 and gave the stock an “underweight” rating in a report on Wednesday, November 6th. Morgan Stanley increased their price objective on Gartner from $490.00 to $528.00 and gave the stock an “equal weight” rating in a report on Thursday, October 10th. Robert W. Baird increased their price objective on Gartner from $565.00 to $590.00 and gave the stock an “outperform” rating in a report on Wednesday, November 6th. Barclays increased their price objective on Gartner from $470.00 to $525.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 6th. Finally, StockNews.com upgraded Gartner from a “hold” rating to a “buy” rating in a report on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Gartner currently has an average rating of “Hold” and an average target price of $539.25.

Gartner Price Performance

NYSE IT opened at $517.37 on Friday. Gartner, Inc. has a fifty-two week low of $411.15 and a fifty-two week high of $559.00. The stock’s 50-day moving average is $521.52 and its two-hundred day moving average is $486.39. The company has a debt-to-equity ratio of 2.31, a current ratio of 1.02 and a quick ratio of 1.02. The firm has a market cap of $39.91 billion, a P/E ratio of 38.15, a price-to-earnings-growth ratio of 3.26 and a beta of 1.31.

Gartner (NYSE:IT) last posted its earnings results on Tuesday, November 5th. The information technology services provider reported $2.50 earnings per share for the quarter, beating the consensus estimate of $2.45 by $0.05. The company had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.48 billion. Gartner had a return on equity of 118.27% and a net margin of 17.33%. The business’s revenue was up 5.4% compared to the same quarter last year. During the same period last year, the company earned $2.56 earnings per share. On average, analysts anticipate that Gartner, Inc. will post 11.89 earnings per share for the current fiscal year.

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.