Vanguard Group Inc. Raises Stock Position in Gartner, Inc. (NYSE:IT)

Vanguard Group Inc. grew its holdings in Gartner, Inc. (NYSE:IT) by 1.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 9,268,639 shares of the information technology services provider’s stock after purchasing an additional 100,917 shares during the quarter. Vanguard Group Inc. owned 12.02% of Gartner worth $4,490,378,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Kestra Investment Management LLC acquired a new position in shares of Gartner during the fourth quarter worth about $29,000. SBI Securities Co. Ltd. purchased a new position in Gartner in the fourth quarter worth approximately $49,000. True Wealth Design LLC grew its holdings in Gartner by 2,350.0% during the 3rd quarter. True Wealth Design LLC now owns 98 shares of the information technology services provider’s stock worth $50,000 after acquiring an additional 94 shares in the last quarter. Promus Capital LLC purchased a new stake in shares of Gartner in the 4th quarter valued at approximately $57,000. Finally, Global Retirement Partners LLC raised its holdings in shares of Gartner by 14.0% in the 4th quarter. Global Retirement Partners LLC now owns 276 shares of the information technology services provider’s stock valued at $134,000 after purchasing an additional 34 shares in the last quarter. Institutional investors and hedge funds own 91.51% of the company’s stock.

Insider Activity at Gartner

In related news, Director Eileen Serra sold 1,200 shares of the firm’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $489.77, for a total value of $587,724.00. Following the completion of the sale, the director now owns 1,627 shares in the company, valued at $796,855.79. This trade represents a 42.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP John J. Rinello sold 90 shares of the business’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $530.51, for a total value of $47,745.90. Following the transaction, the senior vice president now owns 3,259 shares in the company, valued at $1,728,932.09. The trade was a 2.69 % decrease in their position. The disclosure for this sale can be found here. 3.60% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on IT shares. Wells Fargo & Company dropped their target price on Gartner from $470.00 to $460.00 and set an “underweight” rating on the stock in a report on Friday, January 10th. Robert W. Baird dropped their price objective on Gartner from $605.00 to $557.00 and set an “outperform” rating on the stock in a report on Friday. Barclays upgraded Gartner from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $525.00 to $600.00 in a research note on Friday, January 10th. StockNews.com cut shares of Gartner from a “buy” rating to a “hold” rating in a report on Friday. Finally, Morgan Stanley lowered their target price on shares of Gartner from $564.00 to $555.00 and set an “equal weight” rating for the company in a report on Thursday, January 16th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $546.63.

Gartner Trading Down 0.2 %

NYSE IT opened at $429.69 on Tuesday. The firm’s fifty day moving average is $501.11 and its two-hundred day moving average is $507.61. Gartner, Inc. has a one year low of $409.50 and a one year high of $584.01. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.06 and a current ratio of 1.06. The firm has a market cap of $33.01 billion, a PE ratio of 26.81, a P/E/G ratio of 3.30 and a beta of 1.29.

Gartner (NYSE:IT) last posted its quarterly earnings data on Tuesday, February 4th. The information technology services provider reported $5.45 EPS for the quarter, beating the consensus estimate of $3.22 by $2.23. Gartner had a return on equity of 116.56% and a net margin of 20.00%. The firm had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.69 billion. During the same period in the prior year, the business earned $3.04 EPS. The firm’s revenue was up 8.1% compared to the same quarter last year. Analysts expect that Gartner, Inc. will post 12.5 earnings per share for the current year.

Gartner 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.