Wellington Management Group LLP Purchases 187,854 Shares of Gartner, Inc. (NYSE:IT)

Wellington Management Group LLP boosted its position in Gartner, Inc. (NYSE:IT) by 12.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,662,005 shares of the information technology services provider’s stock after acquiring an additional 187,854 shares during the period. Wellington Management Group LLP owned 2.16% of Gartner worth $805,192,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Kestra Investment Management LLC bought a new position in shares of Gartner during the fourth quarter valued at approximately $29,000. True Wealth Design LLC raised its holdings in Gartner by 2,350.0% in the 3rd quarter. True Wealth Design LLC now owns 98 shares of the information technology services provider’s stock worth $50,000 after purchasing an additional 94 shares in the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of Gartner in the 4th quarter worth about $49,000. Promus Capital LLC bought a new stake in shares of Gartner during the 4th quarter valued at about $57,000. Finally, Global Retirement Partners LLC increased its position in shares of Gartner by 14.0% during the fourth quarter. Global Retirement Partners LLC now owns 276 shares of the information technology services provider’s stock valued at $134,000 after buying an additional 34 shares during the period. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Gartner Stock Performance

Shares of IT stock opened at $420.00 on Tuesday. The company has a market capitalization of $32.26 billion, a price-to-earnings ratio of 26.20, a price-to-earnings-growth ratio of 3.30 and a beta of 1.29. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.06 and a current ratio of 1.06. Gartner, Inc. has a one year low of $409.50 and a one year high of $584.01. The company’s 50-day moving average is $492.25 and its 200 day moving average is $505.01.

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

Insiders Place Their Bets

In related news, Director Eileen Serra sold 1,200 shares of Gartner stock in a transaction dated 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 sale, the director now directly owns 1,627 shares in the company, valued at approximately $796,855.79. This trade represents a 42.45 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP John J. Rinello sold 90 shares of the business’s stock in a transaction dated 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 transaction, the senior vice president now directly owns 3,259 shares of the company’s stock, valued at approximately $1,728,932.09. This trade represents a 2.69 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 3.60% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on IT. Robert W. Baird cut their price objective on Gartner from $605.00 to $557.00 and set an “outperform” rating on the stock in a research report on Friday, March 21st. StockNews.com cut Gartner from a “buy” rating to a “hold” rating in a research note on Friday, March 21st. Wells Fargo & Company lowered their price objective on Gartner from $470.00 to $460.00 and set an “underweight” rating for the company in a research report on Friday, January 10th. Barclays raised shares of Gartner from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $525.00 to $600.00 in a research report on Friday, January 10th. Finally, Morgan Stanley dropped 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 note on Thursday, January 16th. One equities 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. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $536.63.

About Gartner

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.