Machina Capital S.A.S. Raises Position in Gartner, Inc. (NYSE:IT)

Machina Capital S.A.S. boosted its stake in shares of Gartner, Inc. (NYSE:IT) by 18.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,957 shares of the information technology services provider’s stock after buying an additional 762 shares during the period. Machina Capital S.A.S.’s holdings in Gartner were worth $2,081,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Cary Street Partners Financial LLC purchased a new position in Gartner in the 4th quarter worth approximately $27,000. Itau Unibanco Holding S.A. raised its holdings in shares of Gartner by 453.3% in the fourth quarter. Itau Unibanco Holding S.A. now owns 83 shares of the information technology services provider’s stock valued at $40,000 after buying an additional 68 shares during the last quarter. Olde Wealth Management LLC purchased a new position in Gartner during the first quarter worth about $42,000. GW&K Investment Management LLC raised its holdings in 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 worth $48,000 after purchasing an additional 78 shares in the last quarter. Finally, Wayfinding Financial LLC acquired a new position in Gartner during the first quarter worth about $55,000. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Gartner Price Performance

Shares of NYSE IT opened at $357.90 on Thursday. Gartner, Inc. has a fifty-two week low of $352.29 and a fifty-two week high of $584.01. The business has a 50-day simple moving average of $407.35 and a two-hundred day simple moving average of $444.96. The company has a market cap of $27.55 billion, a PE ratio of 22.27, a P/E/G ratio of 2.31 and a beta of 1.19. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.09 and a current ratio of 1.09.

Gartner (NYSE:IT) last posted its quarterly earnings data on Tuesday, May 6th. The information technology services provider reported $2.98 earnings per share for the quarter, topping analysts’ consensus estimates of $2.72 by $0.26. Gartner had a return on equity of 96.70% and a net margin of 19.82%. The company had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.53 billion. During the same period last year, the firm earned $2.93 EPS. The firm’s revenue for the quarter was up 4.2% on a year-over-year basis. As a group, equities analysts expect that Gartner, Inc. will post 12.5 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently weighed in on IT. UBS Group dropped their target price on shares of Gartner from $500.00 to $480.00 and set a “buy” rating for the company in a research report on Tuesday, July 15th. The Goldman Sachs Group cut their target price on shares of Gartner from $622.00 to $535.00 and set a “buy” rating for the company in a research note on Wednesday, May 7th. Wells Fargo & Company dropped their price objective on shares of Gartner from $400.00 to $345.00 and set an “underweight” rating on the stock in a research note on Friday, July 18th. Finally, 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 research note on Monday, April 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 company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $507.56.

Insiders Place Their Bets

In other Gartner news, EVP Robin B. Kranich sold 739 shares of the business’s stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $436.50, for a total value of $322,573.50. Following the sale, the executive vice president directly owned 20,464 shares in the company, valued at approximately $8,932,536. The trade was a 3.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP William James Wartinbee III sold 538 shares of Gartner stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $449.09, for a total value of $241,610.42. Following the transaction, the executive vice president owned 7,965 shares in the company, valued at $3,577,001.85. This represents a 6.33% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 5,426 shares of company stock valued at $2,430,327. Insiders own 2.30% of the company’s stock.

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.