JPMorgan Chase & Co. Has $500.81 Million Stake in Gartner, Inc. (NYSE:IT)

JPMorgan Chase & Co. cut its position in shares of Gartner, Inc. (NYSE:IT) by 0.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,033,721 shares of the information technology services provider’s stock after selling 2,809 shares during the quarter. JPMorgan Chase & Co. owned about 1.34% of Gartner worth $500,807,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of IT. Czech National Bank grew its holdings in Gartner by 6.5% during the 4th quarter. Czech National Bank now owns 16,725 shares of the information technology services provider’s stock worth $8,103,000 after acquiring an additional 1,028 shares during the period. Entropy Technologies LP acquired a new stake in Gartner during the fourth quarter worth approximately $366,000. D.A. Davidson & CO. increased its holdings in Gartner by 2.6% in the fourth quarter. D.A. Davidson & CO. now owns 1,137 shares of the information technology services provider’s stock worth $551,000 after purchasing an additional 29 shares in the last quarter. Conestoga Capital Advisors LLC lifted its stake in Gartner by 1.5% in the fourth quarter. Conestoga Capital Advisors LLC now owns 31,626 shares of the information technology services provider’s stock valued at $15,322,000 after buying an additional 480 shares during the period. Finally, Barclays PLC boosted its holdings in shares of Gartner by 8.6% during the 3rd 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 in the last quarter. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Gartner news, SVP John J. Rinello sold 90 shares of Gartner stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $530.51, for a total transaction of $47,745.90. Following the transaction, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Eileen Serra sold 1,200 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $489.77, for a total value of $587,724.00. Following the completion of the transaction, the director now owns 1,627 shares in the company, valued at $796,855.79. The trade was a 42.45 % decrease in their position. The disclosure for this sale can be found here. Insiders own 3.60% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on IT shares. The Goldman Sachs Group reiterated a “buy” rating on shares of Gartner in a research note on Tuesday, February 4th. Wells Fargo & Company decreased their price target on shares of Gartner from $470.00 to $460.00 and set an “underweight” rating for the company in a research note on Friday, January 10th. Morgan Stanley cut their price objective on shares of Gartner from $564.00 to $555.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 16th. Robert W. Baird decreased their target price on Gartner from $605.00 to $557.00 and set an “outperform” rating for the company in a research report on Friday, March 21st. Finally, StockNews.com lowered Gartner from a “buy” rating to a “hold” rating in a report on Friday, March 21st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $536.63.

Gartner Price Performance

IT stock opened at $418.57 on Friday. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.06 and a current ratio of 1.06. The business has a 50-day simple moving average of $494.18 and a two-hundred day simple moving average of $505.57. The company has a market capitalization of $32.15 billion, a P/E ratio of 26.11, a price-to-earnings-growth ratio of 3.30 and a beta of 1.29. Gartner, Inc. has a 52-week low of $409.50 and a 52-week high of $584.01.

Gartner (NYSE:IT) last posted its earnings results on Tuesday, February 4th. The information technology services provider reported $5.45 earnings per share for the quarter, beating analysts’ consensus estimates of $3.22 by $2.23. Gartner had a return on equity of 116.56% and a net margin of 20.00%. The company had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.69 billion. During the same quarter last year, the company earned $3.04 earnings per share. The company’s revenue for the quarter was up 8.1% on a year-over-year basis. Research analysts expect that Gartner, Inc. will post 12.5 EPS 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.