ProShare Advisors LLC Has $7.45 Million Holdings in Gartner, Inc. (NYSE:IT)

ProShare Advisors LLC lifted its holdings in shares of Gartner, Inc. (NYSE:IT) by 11.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,371 shares of the information technology services provider’s stock after purchasing an additional 1,540 shares during the quarter. ProShare Advisors LLC’s holdings in Gartner were worth $7,447,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in IT. Cary Street Partners Financial LLC acquired a new stake in Gartner during the fourth quarter worth about $27,000. Kestra Investment Management LLC bought a new stake in shares of Gartner during the 4th quarter worth approximately $29,000. Itau Unibanco Holding S.A. lifted its holdings in shares of Gartner by 453.3% during the 4th quarter. Itau Unibanco Holding S.A. now owns 83 shares of the information technology services provider’s stock worth $40,000 after acquiring an additional 68 shares during the period. SBI Securities Co. Ltd. acquired a new stake in shares of Gartner during the 4th quarter worth approximately $49,000. Finally, Promus Capital LLC bought a new position in Gartner in the fourth quarter valued at approximately $57,000. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Gartner

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 value of $587,724.00. Following the transaction, the director now directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP John J. Rinello sold 109 shares of the company’s stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $436.35, for a total value of $47,562.15. Following the completion of the sale, the senior vice president now owns 3,280 shares in the company, valued at $1,431,228. The trade was a 3.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,001 shares of company stock worth $2,736,801. 2.30% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. UBS Group upped their target price on Gartner from $500.00 to $525.00 and gave the stock a “buy” rating in a research note on Wednesday, May 7th. Barclays lowered their price target on Gartner from $510.00 to $475.00 and set an “overweight” rating for the company in a report on Monday, April 21st. StockNews.com lowered Gartner from a “buy” rating to a “hold” rating in a research note on Friday, March 21st. Wells Fargo & Company decreased their target price on Gartner from $401.00 to $400.00 and set an “underweight” rating on the stock in a research report on Thursday, May 1st. Finally, The Goldman Sachs Group lowered their target price on Gartner from $622.00 to $535.00 and set a “buy” rating for the company in a research note on Wednesday, May 7th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, Gartner presently has an average rating of “Hold” and an average price target of $518.67.

Gartner Price Performance

Shares of IT opened at $447.88 on Monday. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 1.81. The stock has a market cap of $34.41 billion, a PE ratio of 27.94, a PEG ratio of 3.30 and a beta of 1.24. Gartner, Inc. has a 12-month low of $366.05 and a 12-month high of $584.01. The business has a 50-day simple moving average of $420.79 and a two-hundred day simple moving average of $479.56.

Gartner (NYSE:IT) last released its quarterly earnings data on Tuesday, May 6th. The information technology services provider reported $2.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.72 by $0.26. The company had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.53 billion. Gartner had a return on equity of 116.56% and a net margin of 20.00%. The firm’s revenue was up 4.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.93 earnings per share. Analysts anticipate that Gartner, Inc. will post 12.5 earnings per share for the current fiscal year.

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.