Algert Global LLC Acquires New Stake in Gartner, Inc. (NYSE:IT)

Algert Global LLC bought a new position in Gartner, Inc. (NYSE:IT) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 4,663 shares of the information technology services provider’s stock, valued at approximately $2,259,000.

Other large investors have also made changes to their positions in the company. Principal Financial Group Inc. raised its holdings in Gartner by 5.5% in the 3rd quarter. Principal Financial Group Inc. now owns 2,001,142 shares of the information technology services provider’s stock worth $1,014,099,000 after purchasing an additional 103,814 shares during the period. Barclays PLC raised its stake in shares of Gartner by 8.6% in the third quarter. Barclays PLC now owns 166,787 shares of the information technology services provider’s stock worth $84,520,000 after buying an additional 13,205 shares during the period. JPMorgan Chase & Co. lifted its position in shares of Gartner by 7.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,036,530 shares of the information technology services provider’s stock valued at $525,272,000 after buying an additional 70,236 shares in the last quarter. Nordea Investment Management AB grew its stake in shares of Gartner by 5.1% during the 4th quarter. Nordea Investment Management AB now owns 6,848 shares of the information technology services provider’s stock valued at $3,334,000 after acquiring an additional 333 shares during the period. Finally, Diversified Trust Co increased its holdings in Gartner by 10.6% in the 4th quarter. Diversified Trust Co now owns 438 shares of the information technology services provider’s stock worth $212,000 after acquiring an additional 42 shares in the last quarter. 91.51% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Gartner

In related news, Director Eileen Serra sold 1,200 shares of the stock in a transaction on Monday, February 24th. The stock was sold at an average price of $489.77, for a total transaction of $587,724.00. Following the sale, the director now owns 1,627 shares in the company, valued at approximately $796,855.79. This represents a 42.45 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP John J. Rinello sold 90 shares of the firm’s stock in a transaction 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 completion of the sale, the senior vice president now owns 3,259 shares of the company’s stock, valued at approximately $1,728,932.09. This represents a 2.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.60% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on IT. Robert W. Baird dropped their price target on shares of Gartner from $605.00 to $557.00 and set an “outperform” rating for the company in a research report on Friday, March 21st. Barclays dropped their target price on shares of Gartner from $510.00 to $475.00 and set an “overweight” rating for the company in a report on Monday, April 21st. Wells Fargo & Company decreased their price target on Gartner from $401.00 to $400.00 and set an “underweight” rating on the stock in a report on Thursday, May 1st. StockNews.com lowered Gartner from a “buy” rating to a “hold” rating in a research note on Friday, March 21st. Finally, UBS Group lifted their target price on Gartner from $500.00 to $525.00 and gave the company a “buy” rating in a research note on Wednesday. One research analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Gartner has a consensus rating of “Hold” and a consensus price target of $518.67.

Gartner Price Performance

NYSE:IT opened at $437.54 on Friday. The business’s 50-day moving average is $424.98 and its 200 day moving average is $483.02. Gartner, Inc. has a 12 month low of $366.05 and a 12 month high of $584.01. The company has a market capitalization of $33.61 billion, a P/E ratio of 27.29, a P/E/G ratio of 3.30 and a beta of 1.24. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 1.81.

Gartner (NYSE:IT) last issued its quarterly earnings data on Tuesday, May 6th. The information technology services provider reported $2.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.72 by $0.26. Gartner had a return on equity of 116.56% and a net margin of 20.00%. The business had revenue of $1.54 billion for the quarter, compared to analysts’ expectations of $1.53 billion. During the same period in the prior year, the firm earned $2.93 EPS. The company’s revenue for the quarter was up 4.2% on a year-over-year basis. On average, equities research analysts forecast that Gartner, Inc. will post 12.5 earnings per share for the current fiscal 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.