Caisse DE Depot ET Placement DU Quebec Purchases Shares of 42,690 Gartner, Inc. (NYSE:IT)

Caisse DE Depot ET Placement DU Quebec purchased a new position in shares of Gartner, Inc. (NYSE:IT) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 42,690 shares of the information technology services provider’s stock, valued at approximately $21,634,000.

Several other hedge funds have also made changes to their positions in IT. Eastern Bank purchased a new position in Gartner during the third quarter worth about $26,000. Ashton Thomas Securities LLC purchased a new position in shares of Gartner during the 3rd quarter worth about $44,000. Crewe Advisors LLC boosted its position in shares of Gartner by 223.3% in the second quarter. Crewe Advisors LLC now owns 97 shares of the information technology services provider’s stock worth $44,000 after acquiring an additional 67 shares during the last quarter. Fortitude Family Office LLC grew its holdings in Gartner by 23.8% in the third quarter. Fortitude Family Office LLC now owns 104 shares of the information technology services provider’s stock valued at $53,000 after purchasing an additional 20 shares during the period. Finally, Asset Dedication LLC grew its holdings in Gartner by 46.5% in the third quarter. Asset Dedication LLC now owns 148 shares of the information technology services provider’s stock valued at $75,000 after purchasing an additional 47 shares during the period. Institutional investors and hedge funds own 91.51% of the company’s stock.

Wall Street Analyst Weigh In

IT has been the topic of a number of research analyst reports. Robert W. Baird lifted their price target on shares of Gartner from $565.00 to $590.00 and gave the company an “outperform” rating in a report on Wednesday, November 6th. Barclays lifted their target price on Gartner from $470.00 to $525.00 and gave the company an “equal weight” rating in a report on Wednesday, November 6th. Deutsche Bank Aktiengesellschaft upped their price target on Gartner from $529.00 to $531.00 and gave the stock a “hold” rating in a research note on Wednesday, November 6th. Morgan Stanley lifted their price objective on Gartner from $490.00 to $528.00 and gave the company an “equal weight” rating in a research note on Thursday, October 10th. Finally, Wells Fargo & Company increased their target price on shares of Gartner from $460.00 to $470.00 and gave the stock an “underweight” rating in a research report on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, Gartner currently has a consensus rating of “Hold” and a consensus price target of $539.25.

Gartner Stock Performance

Shares of NYSE:IT opened at $517.93 on Monday. The business’s 50-day simple moving average is $521.01 and its 200 day simple moving average is $484.28. The company has a market cap of $39.95 billion, a P/E ratio of 38.20, a PEG ratio of 3.24 and a beta of 1.32. The company has a debt-to-equity ratio of 2.31, a quick ratio of 1.02 and a current ratio of 1.02. Gartner, Inc. has a one year low of $411.15 and a one year high of $559.00.

Gartner (NYSE:IT) last issued its quarterly earnings data on Tuesday, November 5th. The information technology services provider reported $2.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.45 by $0.05. Gartner had a net margin of 17.33% and a return on equity of 118.27%. The company had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same quarter last year, the company earned $2.56 earnings per share. Gartner’s revenue for the quarter was up 5.4% on a year-over-year basis. On average, sell-side analysts forecast that Gartner, Inc. will post 11.89 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director James C. Smith sold 2,128 shares of the stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $500.15, for a total value of $1,064,319.20. Following the completion of the transaction, the director now owns 572,090 shares of the company’s stock, valued at approximately $286,130,813.50. This represents a 0.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Akhil Jain sold 500 shares of Gartner stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $492.00, for a total value of $246,000.00. Following the sale, the executive vice president now owns 4,339 shares in the company, valued at $2,134,788. This represents a 10.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 72,149 shares of company stock valued at $37,694,911 in the last quarter. Company insiders own 3.60% 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.