Fmr LLC Acquires 223,087 Shares of Gartner, Inc. (NYSE:IT)

Fmr LLC increased its stake in Gartner, Inc. (NYSE:IT) by 8.6% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,822,122 shares of the information technology services provider’s stock after acquiring an additional 223,087 shares during the quarter. Fmr LLC owned 3.66% of Gartner worth $1,367,233,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of IT. Kestra Investment Management LLC acquired a new position in shares of Gartner during the fourth quarter valued at about $29,000. SBI Securities Co. Ltd. acquired a new position in Gartner during the 4th quarter worth approximately $49,000. Promus Capital LLC bought a new position in Gartner in the fourth quarter worth approximately $57,000. Hurley Capital LLC bought a new position in Gartner in the fourth quarter worth approximately $73,000. Finally, Global Retirement Partners LLC grew its stake in Gartner by 14.0% in the fourth quarter. Global Retirement Partners LLC now owns 276 shares of the information technology services provider’s stock valued at $134,000 after acquiring an additional 34 shares during the period. Institutional investors and hedge funds own 91.51% of the company’s stock.

Wall Street Analysts Forecast Growth

IT has been the topic of a number of recent research reports. Morgan Stanley cut their target price on Gartner from $564.00 to $555.00 and set an “equal weight” rating on the stock in a report on Thursday, January 16th. Wells Fargo & Company dropped their price objective on shares of Gartner from $470.00 to $460.00 and set an “underweight” rating on the stock in a research note on Friday, January 10th. The Goldman Sachs Group reissued a “buy” rating on shares of Gartner in a research report on Tuesday, February 4th. Robert W. Baird dropped their price target on shares of Gartner from $605.00 to $557.00 and set an “outperform” rating on the stock in a research report on Friday, March 21st. Finally, StockNews.com downgraded Gartner from a “buy” rating to a “hold” rating in a research note on Friday, March 21st. One equities research 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 a consensus target price of $525.38.

Insider Buying and Selling at Gartner

In related news, SVP John J. Rinello sold 90 shares of Gartner stock in a transaction that occurred 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 sale, the senior vice president now owns 3,259 shares of the company’s stock, valued at approximately $1,728,932.09. The trade was a 2.69 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Eileen Serra sold 1,200 shares of the stock in a transaction on Monday, February 24th. The shares were 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 approximately $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 Price Performance

Gartner stock opened at $383.12 on Monday. The stock 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 1.26. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 1.81. The company’s 50 day moving average price is $482.71 and its two-hundred day moving average price is $502.12. Gartner, Inc. has a 52 week low of $382.23 and a 52 week high of $584.01.

Gartner (NYSE:IT) last announced its quarterly earnings data on Tuesday, February 4th. The information technology services provider reported $5.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.22 by $2.23. The firm 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 business’s revenue for the quarter was up 8.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.04 EPS. On average, equities analysts predict that Gartner, Inc. will post 12.5 earnings per share for the current 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.