Gartner, Inc. (NYSE:IT) Shares Bought by Paralel Advisors LLC

Paralel Advisors LLC increased its holdings in Gartner, Inc. (NYSE:IT) by 10.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,269 shares of the information technology services provider’s stock after acquiring an additional 480 shares during the quarter. Paralel Advisors LLC’s holdings in Gartner were worth $2,553,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Norges Bank purchased a new position in Gartner in the 4th quarter worth approximately $460,541,000. Madison Investment Advisors LLC bought a new stake in shares of Gartner during the fourth quarter valued at about $244,799,000. Raymond James Financial Inc. bought a new stake in Gartner in the fourth quarter worth about $165,476,000. FMR LLC raised its position in Gartner by 8.6% in the fourth quarter. FMR LLC now owns 2,822,122 shares of the information technology services provider’s stock worth $1,367,233,000 after acquiring an additional 223,087 shares in the last quarter. Finally, Fisher Funds Management LTD purchased a new position in Gartner in the 4th quarter worth about $97,518,000. 91.51% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, SVP John J. Rinello sold 90 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the senior vice president now directly owns 3,259 shares of the company’s stock, valued at $1,728,932.09. This represents a 2.69 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Eileen Serra sold 1,200 shares of the 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 sale, the director now owns 1,627 shares in the company, valued at approximately $796,855.79. This represents a 42.45 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 3.60% of the company’s stock.

Analyst Upgrades and Downgrades

IT has been the topic of several research analyst reports. UBS Group lowered their target price on Gartner from $565.00 to $500.00 and set a “buy” rating on the stock in a research note on Tuesday, March 25th. Morgan Stanley lowered their target price on Gartner from $564.00 to $555.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 16th. StockNews.com cut Gartner from a “buy” rating to a “hold” rating in a research note on Friday, March 21st. Robert W. Baird reduced their price target on Gartner from $605.00 to $557.00 and set an “outperform” rating for the company in a report on Friday, March 21st. Finally, The Goldman Sachs Group reiterated a “buy” rating on shares of Gartner in a report on Tuesday, February 4th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, Gartner has an average rating of “Hold” and an average target price of $518.00.

Gartner Price Performance

IT stock traded down $13.72 during midday trading on Thursday, reaching $392.41. 12,341 shares of the stock were exchanged, compared to its average volume of 445,310. The stock has a market capitalization of $30.14 billion, a PE ratio of 24.48, a P/E/G ratio of 3.30 and a beta of 1.26. Gartner, Inc. has a 52 week low of $366.05 and a 52 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 company has a fifty day moving average price of $467.43 and a 200 day moving average price of $497.94.

Gartner (NYSE:IT) last announced its earnings results on Tuesday, February 4th. The information technology services provider reported $5.45 EPS for the quarter, topping the consensus estimate of $3.22 by $2.23. The firm had revenue of $1.72 billion for 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 business’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same period in the previous year, the business earned $3.04 EPS. As a group, analysts expect that Gartner, Inc. will post 12.5 EPS for the current fiscal year.

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.