Gartner, Inc. (NYSE:IT) Shares Bought by Advisory Services Network LLC

Advisory Services Network LLC lifted its position in shares of Gartner, Inc. (NYSE:IT) by 27.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,883 shares of the information technology services provider’s stock after buying an additional 400 shares during the quarter. Advisory Services Network LLC’s holdings in Gartner were worth $912,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Norges Bank acquired a new position in Gartner during the fourth quarter worth about $460,541,000. Madison Investment Advisors LLC acquired a new position in shares of Gartner during the 4th quarter worth approximately $244,799,000. Raymond James Financial Inc. purchased a new stake in Gartner in the 4th quarter valued at approximately $165,476,000. FMR LLC grew its holdings in Gartner by 8.6% during 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. Finally, Fisher Funds Management LTD purchased a new position in Gartner during the fourth quarter worth $97,518,000. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

IT has been the topic of several recent research reports. Wells Fargo & Company reduced their price objective on Gartner from $488.00 to $401.00 and set an “underweight” rating on the stock in a research report on Wednesday, April 9th. UBS Group decreased their price target on shares of Gartner from $565.00 to $500.00 and set a “buy” rating on the stock in a research note on Tuesday, March 25th. The Goldman Sachs Group reissued a “buy” rating on shares of Gartner in a research report on Tuesday, February 4th. Morgan Stanley decreased their target price 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. Finally, Barclays lowered their target price on shares of Gartner from $600.00 to $510.00 and set an “overweight” rating for the company in a research note on Friday, April 4th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $518.00.

Insider Buying and Selling

In other news, SVP John J. Rinello sold 90 shares of the 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 sale, the senior vice president now owns 3,259 shares in the company, valued at approximately $1,728,932.09. This trade represents a 2.69 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 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 transaction, the director now directly owns 1,627 shares in the company, valued at $796,855.79. This trade 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 Stock Up 2.0 %

Shares of IT opened at $399.84 on Monday. Gartner, Inc. has a fifty-two week low of $366.05 and a fifty-two week high of $584.01. The company’s fifty day moving average is $461.38 and its two-hundred day moving average is $496.20. The firm has a market cap of $30.71 billion, a PE ratio of 24.94, a price-to-earnings-growth ratio of 3.30 and a beta of 1.26. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 1.81.

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, 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 return on equity of 116.56% and a net margin of 20.00%. The firm’s revenue for the quarter was up 8.1% compared to the same quarter last year. During the same quarter last year, the firm earned $3.04 earnings per share. Analysts forecast that Gartner, Inc. will post 12.5 earnings per share for the current year.

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.