Prudential PLC Has $5.01 Million Position in Gartner, Inc. (NYSE:IT)

Prudential PLC increased its position in shares of Gartner, Inc. (NYSE:IT) by 23.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,340 shares of the information technology services provider’s stock after buying an additional 1,995 shares during the quarter. Prudential PLC’s holdings in Gartner were worth $5,009,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Kestra Investment Management LLC acquired a new position in shares of Gartner in the 4th quarter valued at $29,000. SBI Securities Co. Ltd. acquired a new position in Gartner in the fourth quarter worth about $49,000. Promus Capital LLC bought a new position in Gartner during the fourth quarter worth about $57,000. Global Retirement Partners LLC boosted its holdings in 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 purchasing an additional 34 shares in the last quarter. Finally, Hanson & Doremus Investment Management bought a new stake in shares of Gartner in the 4th quarter valued at approximately $145,000. 91.51% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently commented on IT shares. UBS Group decreased their price target on Gartner from $565.00 to $500.00 and set a “buy” rating on the stock in a research note on Tuesday, March 25th. Barclays lowered their target price on shares of Gartner from $600.00 to $510.00 and set an “overweight” rating on the stock in a report on Friday. Wells Fargo & Company cut their price target on shares of Gartner from $470.00 to $460.00 and set an “underweight” rating for the company in a report on Friday, January 10th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Gartner in a research note on Tuesday, February 4th. Finally, Morgan Stanley cut their target price on shares of Gartner from $564.00 to $555.00 and set an “equal weight” rating for the company in a research note on Thursday, January 16th. One analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Gartner presently has a consensus rating of “Hold” and a consensus target price of $525.38.

Gartner Stock Performance

Shares of Gartner stock opened at $383.12 on Friday. The firm has a 50 day simple moving average of $482.71 and a 200 day simple moving average of $502.15. Gartner, Inc. has a fifty-two week low of $382.23 and a fifty-two week high of $584.01. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.06 and a quick ratio of 1.06. The firm has a market cap of $29.43 billion, a P/E ratio of 23.90, a P/E/G ratio of 3.30 and a beta of 1.29.

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

Insider Buying and Selling at Gartner

In other news, SVP John J. Rinello sold 90 shares of the stock in a transaction on Monday, February 10th. The stock was sold at an average price of $530.51, for a total value 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 represents a 2.69 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Eileen Serra sold 1,200 shares of the firm’s stock in a transaction 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. This represents a 42.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 3.60% of the company’s stock.

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.