Arrowstreet Capital Limited Partnership Has $95.03 Million Position in Gartner, Inc. (NYSE:IT)

Arrowstreet Capital Limited Partnership lifted its holdings in Gartner, Inc. (NYSE:IT) by 590.2% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 196,153 shares of the information technology services provider’s stock after purchasing an additional 167,734 shares during the quarter. Arrowstreet Capital Limited Partnership owned about 0.25% of Gartner worth $95,030,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of 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. bought a new stake in Gartner in the 4th quarter valued at approximately $49,000. True Wealth Design LLC boosted its position 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 during the last quarter. Promus Capital LLC bought a new position in shares of Gartner during the 4th quarter worth approximately $57,000. Finally, Global Retirement Partners LLC lifted its position in shares of Gartner by 14.0% in the fourth quarter. Global Retirement Partners LLC now owns 276 shares of the information technology services provider’s stock worth $134,000 after purchasing an additional 34 shares in the last quarter. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Gartner Stock Up 0.4 %

IT stock opened at $420.00 on Tuesday. Gartner, Inc. has a 1-year low of $409.50 and a 1-year high of $584.01. The business’s 50 day simple moving average is $492.25 and its 200 day simple moving average is $505.01. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 1.81. The firm has a market capitalization of $32.26 billion, a PE ratio of 26.20, a PEG ratio of 3.30 and a beta of 1.29.

Gartner (NYSE:IT) last released 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. The firm had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.69 billion. Gartner had a net margin of 20.00% and a return on equity of 116.56%. The company’s quarterly revenue was up 8.1% on a year-over-year basis. During the same period in the previous year, the company earned $3.04 earnings per share. As a group, research analysts anticipate that Gartner, Inc. will post 12.5 EPS for the current year.

Insiders Place Their Bets

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 transaction of $587,724.00. Following the transaction, the director now directly owns 1,627 shares of the company’s stock, valued at approximately $796,855.79. This trade represents a 42.45 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP John J. Rinello sold 90 shares of Gartner stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $530.51, for a total transaction of $47,745.90. Following the completion of the sale, the senior vice president now owns 3,259 shares of the company’s stock, valued at $1,728,932.09. This trade represents a 2.69 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 3.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on IT. Morgan Stanley decreased their target price on shares of Gartner from $564.00 to $555.00 and set an “equal weight” rating for the company in a research report on Thursday, January 16th. UBS Group decreased their price objective on Gartner from $565.00 to $500.00 and set a “buy” rating for the company in a report on Tuesday, March 25th. The Goldman Sachs Group reiterated a “buy” rating on shares of Gartner in a report on Tuesday, February 4th. StockNews.com downgraded Gartner from a “buy” rating to a “hold” rating in a research note on Friday, March 21st. Finally, 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 research note on Friday, March 21st. One analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $536.63.

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.