Renaissance Group LLC Has $32.98 Million Stock Holdings in Gartner, Inc. (NYSE:IT)

Renaissance Group LLC reduced its position in shares of Gartner, Inc. (NYSE:IT) by 2.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 68,053 shares of the information technology services provider’s stock after selling 1,469 shares during the period. Renaissance Group LLC owned about 0.09% of Gartner worth $32,982,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in Gartner by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 9,268,639 shares of the information technology services provider’s stock valued at $4,490,378,000 after purchasing an additional 100,917 shares during the period. FMR LLC grew its position in shares of Gartner by 8.6% in the 4th quarter. FMR LLC now owns 2,822,122 shares of the information technology services provider’s stock valued at $1,367,233,000 after buying an additional 223,087 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Gartner by 2.2% in the fourth quarter. Geode Capital Management LLC now owns 2,063,577 shares of the information technology services provider’s stock valued at $998,400,000 after buying an additional 45,219 shares during the period. Principal Financial Group Inc. raised its position in shares of Gartner by 0.6% during the fourth quarter. Principal Financial Group Inc. now owns 2,012,799 shares of the information technology services provider’s stock worth $975,141,000 after acquiring an additional 11,657 shares during the last quarter. Finally, Wellington Management Group LLP lifted its stake in shares of Gartner by 12.7% in the fourth quarter. Wellington Management Group LLP now owns 1,662,005 shares of the information technology services provider’s stock worth $805,192,000 after acquiring an additional 187,854 shares during the period. Institutional investors and hedge funds own 91.51% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on IT. StockNews.com lowered shares of Gartner from a “buy” rating to a “hold” rating in a report on Friday, March 21st. Morgan Stanley lowered 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. UBS Group cut their price target on shares of Gartner from $565.00 to $500.00 and set a “buy” rating on the stock in a research report on Tuesday, March 25th. Robert W. Baird lowered their price objective 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, Barclays decreased their target price on Gartner from $600.00 to $510.00 and set an “overweight” rating for the company in a research note on Friday. One research analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Gartner currently has a consensus rating of “Hold” and an average target price of $525.38.

Gartner Stock Down 0.3 %

IT stock opened at $382.25 on Tuesday. The stock’s 50 day simple moving average is $479.61 and its 200 day simple moving average is $501.20. The company has a market cap of $29.36 billion, a P/E ratio of 23.85, a price-to-earnings-growth ratio of 3.30 and a beta of 1.26. 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 fifty-two week low of $366.05 and a fifty-two week high of $584.01.

Gartner (NYSE:IT) last issued 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. 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 period in the prior year, the firm earned $3.04 earnings per share. Gartner’s revenue for the quarter was up 8.1% on a year-over-year basis. On average, research analysts expect that Gartner, Inc. will post 12.5 earnings per share 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 that occurred on Monday, February 24th. The stock was sold at an average price of $489.77, for a total transaction of $587,724.00. Following the transaction, the director now owns 1,627 shares of the company’s stock, valued at $796,855.79. The trade was a 42.45 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP John J. Rinello sold 90 shares of the stock in a transaction on Monday, February 10th. The shares were sold at an average price of $530.51, for a total value of $47,745.90. Following the completion of the sale, the senior vice president now directly owns 3,259 shares of the company’s stock, valued at $1,728,932.09. The trade was a 2.69 % 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.

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.