OVERSEA CHINESE BANKING Corp Ltd Acquires Shares of 774 Gartner, Inc. (NYSE:IT)

OVERSEA CHINESE BANKING Corp Ltd bought a new position in Gartner, Inc. (NYSE:ITFree Report) during the fourth quarter, HoldingsChannel.com reports. The fund bought 774 shares of the information technology services provider’s stock, valued at approximately $349,000.

A number of other large investors have also recently made changes to their positions in IT. Vanguard Group Inc. lifted its position in Gartner by 1.1% in the first quarter. Vanguard Group Inc. now owns 9,198,161 shares of the information technology services provider’s stock worth $2,736,085,000 after buying an additional 102,709 shares during the last quarter. BlackRock Inc. boosted its stake in shares of Gartner by 2.6% during the 1st quarter. BlackRock Inc. now owns 6,394,140 shares of the information technology services provider’s stock worth $2,083,019,000 after purchasing an additional 165,046 shares during the period. State Street Corp grew its holdings in Gartner by 2.3% during the 1st quarter. State Street Corp now owns 3,072,139 shares of the information technology services provider’s stock valued at $1,000,811,000 after purchasing an additional 69,116 shares during the last quarter. Morgan Stanley raised its position in Gartner by 4.6% in the 3rd quarter. Morgan Stanley now owns 2,157,075 shares of the information technology services provider’s stock worth $741,193,000 after purchasing an additional 95,040 shares during the period. Finally, Wellington Management Group LLP lifted its stake in Gartner by 20.3% in the first quarter. Wellington Management Group LLP now owns 2,029,738 shares of the information technology services provider’s stock worth $603,766,000 after purchasing an additional 342,228 shares during the last quarter. 91.51% of the stock is currently owned by institutional investors.

Insider Transactions at Gartner

In related news, EVP Akhil Jain sold 250 shares of Gartner stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $464.55, for a total transaction of $116,137.50. Following the transaction, the executive vice president now directly owns 5,239 shares of the company’s stock, valued at $2,433,777.45. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other Gartner news, EVP Yvonne Genovese sold 560 shares of the stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $457.37, for a total transaction of $256,127.20. Following the completion of the sale, the executive vice president now directly owns 2,398 shares of the company’s stock, valued at $1,096,773.26. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Akhil Jain sold 250 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $464.55, for a total transaction of $116,137.50. Following the completion of the sale, the executive vice president now owns 5,239 shares in the company, valued at $2,433,777.45. The disclosure for this sale can be found here. In the last quarter, insiders sold 22,952 shares of company stock valued at $10,598,070. Company insiders own 3.60% of the company’s stock.

Gartner Price Performance

Shares of IT stock opened at $440.38 on Monday. Gartner, Inc. has a twelve month low of $292.60 and a twelve month high of $486.54. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 3.60. The stock has a fifty day simple moving average of $465.07 and a two-hundred day simple moving average of $435.75. The stock has a market capitalization of $34.34 billion, a price-to-earnings ratio of 39.82, a P/E/G ratio of 4.02 and a beta of 1.29.

Gartner (NYSE:ITGet Free Report) last released its quarterly earnings data on Tuesday, February 6th. The information technology services provider reported $3.04 earnings per share for the quarter, beating the consensus estimate of $2.83 by $0.21. Gartner had a return on equity of 156.35% and a net margin of 14.94%. The firm had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.59 billion. During the same period in the previous year, the company posted $3.70 earnings per share. The firm’s quarterly revenue was up 6.3% on a year-over-year basis. On average, analysts predict that Gartner, Inc. will post 11.36 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

IT has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft assumed coverage on Gartner in a report on Tuesday, April 16th. They issued a “hold” rating and a $507.00 price target on the stock. Morgan Stanley increased their target price on Gartner from $421.00 to $446.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 6th. StockNews.com downgraded Gartner from a “buy” rating to a “hold” rating in a research report on Saturday, February 10th. BMO Capital Markets raised their price target on shares of Gartner from $444.00 to $450.00 and gave the stock a “market perform” rating in a research note on Thursday, February 8th. Finally, UBS Group raised shares of Gartner from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $484.00 to $550.00 in a research report on Thursday, April 11th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $477.60.

View Our Latest Stock Analysis on IT

About Gartner

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Gartner (NYSE:IT)

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